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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA -- Ignore unavailable to you. Want to Upgrade?

To: Matthew L. Jones who wrote (370)	7/18/1999 1:54:00 AM
From: Teresa Lo	Respond to of 19219

The reason I have things divisible is to avoid bars at the end of the day that don't contain the right number of minutes per period. For example, if I use a 60-minute time frame, given the S&P futures trades for 405 minutes a day, the last "hour" really only contains 45-minutes and I don't like that...but most people don't really care about this issue. The important thing is the multiple time frame aspect, and being in sync with the larger trend, and not really the number of bars, I guess. As an aside, my mentor in TA is a cycles guy and I know the stuff inside out, but the problem with cycles, in the end, is this - I don't think they're really there, or at least don't arrive in predictable intervals. I have all his work and things appear to fit nicely into this time cycles, but in practical use for trading per se, I did not find it helpful. In fact there were in a way a big hindrance because, like counting waves, it teaches one to attempt to "predict" the market rather than to be in tune and be one with it. In the end, listening quietly to the market is the best thing to do, rather than telling the market when the cycle is "time up", if you know what I mean. The masses seem to really like MACD and Sto, so it's good to keep and eye on it. I used to watch it but not I don't do it anymore. Teresa