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Strategies & Market Trends : P&S and STO Death Blow's -- Ignore unavailable to you. Want to Upgrade?

To: Win-Lose-Draw who wrote (23326)	1/9/2003 7:05:43 PM
From: augieboo	Read Replies (1) \| Respond to of 30712

augie, you've (legitimately) forced others to the standard of verifiable performance, you can't exempt signals you like to use. if you can't describe it, you can't test it, and even more importantly, you can't trade it. Good points! Consider me duly flogged with a limp noodle! To tell the awful truth, I find myself using candlesticks less and less these days because they so often don't work. ): As far as testing them -- as well as other indicators -- goes, I think we need to look at some things with a bit more statistical sophistication. In other words, I think the question we need to ask is not simply "Does Indicator X, by itself, produce more successes than failures?" but "Is there a statistically meaningful correlation between indicator X and price such that Indicator X may be used in a multivariate model of price movement which, overall, will produce an acceptable ratio of winning vs losing trades?" <pant-pant-pant> Boy, my little doggie brain had to work hard to yank all that up from DEEEEEEEP in the cob-webbed recesses where Stat 1 info is stored! you can never have too many arrows in your quiver. (wow, does that sentence sound reaganesque or what? -g-) Yeppers. But if you switch it around just a tad you can make it sound Clintonian, thusly: "You can never have too much quiver in your arrow." <g>