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Strategies & Market Trends : The Player's Club -- Ignore unavailable to you. Want to Upgrade?

To: John Pitera who wrote (3981)	1/8/2000 1:06:00 AM
From: Matthew L. Jones	Read Replies (1) \| Respond to of 11513

John, Thanks for the lengthy and detailed explanation. I am very interested in this kind of work. I'll try to see if I can find anything else on that subject. I would appreciate any books you could recommend on the subject. I feel like the time aspect is one that is overlooked by the vast majority of market technicians. And many of those who do look at the time aspect, do so on the basis of "voodoo" T/A like moon cycles and astrological stuff. I've never given the Elliot Wave theory much of a chance, but I know a few swear by it. I currently use probabilities to help me make decisions (for example if a trend on a 5 minute chart is 13 bars old (65 minutes) I won't trade in the direction of the trend because the odds of the trend continuing without at least a Fibonnaci retracement are over 3:1 against the continuation. Optimum would be to exit a trade when it is 9 bars into a move (or to tighten stops when it gets 45 minutes old (1:1 odds). Anyway, thanks again for your lengthy note. Matt