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Strategies & Market Trends : Technical Analysis - Beginners -- Ignore unavailable to you. Want to Upgrade?

To: David R. Evans who wrote (7605)	1/7/1998 9:57:00 AM
From: Loren	Read Replies (4) \| Respond to of 12039

David - Just a note to say I appreciate this thread. I have been into TA for about 5 years now, almost totally on my own (well, me and my 'Trading for a Living' book). I have used Metastock (DOS), TC2000, and SuperCharts. I have been active on the I-net for about 2 years now, active on SI for about 9 months. Never thought to search for the term 'Technical Analysis'! Glad I found you, because I need other ideas/opinions to consider... The information I get from this thread is much more nourishing than most of the stuff on the individual stock threads, anyway! Yesterday I e-mailed Equis for brochure/literature on Metastock... it's time to see what I might be missing by using SuperCharts, although I don't have any technical issues at this time. I chart almost exclusively with weekly data, because it fits my ability to watch/trade during the normal work week. My favorite indicators have been a slightly tweaked MACD, and lately the DMI/ADX indicators. I like MACD because I am an engineer, and appreciate the analogy of MACD lines to position/velocity/acceleration/jerk. I like ADX a lot, because it tells me the strength of the trend. That's an important addition to the MACD system, since MACD often gives buy signals before the stock is in an established uptrend. I chart only strong (EPS growth) stocks, buy only those I chart, buy on a weekly crossover of DMI and/or MACD. I sell on a sell signal or a 10-15% loss from the highest high, or 10-15% loss from my buy price, whichever happens first. 10 or 15? Depends on the volatility of the stock. I am glad to find some others who believe in this stuff. You may or may not be amazed to know that a bunch of folks out there on the 'net' think this is voodoo. That's fine, I've given up trying to convince them... 'pearls before swine', as our grandparents used to say! :-) Loren