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Strategies & Market Trends : Classic TA Workplace -- Ignore unavailable to you. Want to Upgrade?

To: JRI who wrote (20094)	11/8/2001 2:21:19 PM
From: Chip McVickar	Respond to of 209892

JRI, >>Do they [time counts] take in account, in any way, stochastics/overbought conditions.... or do they override them?<< Don't use canned Indicators like Stochastics...MACD...Rate-of-Change or similar structures in a conventional manner. If used they're severely twinked. It's taken some serious studies to develop a system that matches my mind, to train my ego to look at charts in a way that matches my psyche....! You can agree that each individual mind will create it's own "method" for timing markets and seeing price movements. To me charts are 3 dimensional...maybe 4. Charts are Visually Very Deceptive to Look At. They don't always tell you what you Think you should see or do.., what they suggest is often just the opposite of an outcome. There's also a strong contrarian psychological element to reading charts. So most common indicators fall into this visually deceptive category as well. I don't rely on conventional Indicators, primarily because they're all using historical data to make Assumptions about what's happening real-time.., much-less about the future. They're incapable of projecting forward.., and at best they only tell us where the market has been. Natural mathematical rhythms of all kinds [like Fibs] had an immediate appeal. Graphically the Andrew's Pitchforks made sense and so were studies of bar patterns both inter-day as well as daily and weekly. So my brain is very graphically centered..., it sees patterns and graphic images very well..., and then the math is added. Others are mathematically centered and add graphic patterns like DeMark. The only common Indicator that I use consistently is RSI-5 and looking for divergences. Others of interest are based on probabilities. For over-bought/over-sold conditions... using On Balance Volume CLX studies, 25 day Summation of Advance/Decline issues and other internal market studies of strength/weakness seem to work better. BTW..., I also don't use conventional cycles like 46 weeks. There's a fascinating study..., implying the brain forgets and alters everything after 3.5 weeks anyway. So History and Time never repeat themselves in exactly the same manner..., cycles are more like a spirals then linear progressions. Chip