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Strategies & Market Trends : Stock Attack -- A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Chris who wrote (3873)	11/11/1997 12:56:00 AM
From: Robert Graham	Read Replies (1) \| Respond to of 42787

Yes, it does send shivers down my spine at this thought - trading without TA. What I find interesting is that the tape readers who do not use TA actually utilize the principles behind some of the basic conecpts of TA. This includes support and resistance levels and some price formations like rounding tops, and how important it is for volume to validate the trend. IMO there is no difference between reading the tape and watching a real-time chart version of the ticks. At least with the chart, you can also see the ticks visually whcih can be of benefit. And then you are in the position to utilize the more "advanced" forms of TA like indicators. Ah, the advantage that technology brings to the investor. I find it interesting that PCs cannot be used on the floor of the exchange. I wonder if this is true? Earlier it was asked on the thread what is the difference between indicators like OBV and Acc/Dist and watching the tape. I gave the explaination that those daily figures mask alot of what actually happened during the day, and I attempted to give a scenario that the money flow indicator view and the tape view can provide two different results on the same stock. What I think would be real interesting is calculating one of the money flow indicators on a tick by tick basis. I think this would be a very useful indicator. But the price of that Omega Tradestation is a bit out of my reach. Thanks for the info, Chris! Bob Graham