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

To: bdog who wrote (7879)	1/18/1998 3:11:00 PM
From: Chandler H. Everett	Read Replies (1) \| Respond to of 12039

bdog........for me, there was almost an Elliott Wave progress to my learning about TA. I started out (Wave 1) very simply and got so I understood Point & Figure, MACD, RSI, OBV and Stochastic in my TC2000 program. Then I learned binary formulization from Jerry Gatto and got very complicated, writing formulas that sometimes took 3 minutes just to boot up in MetaStock. That was Wave 2. Then I found simpler formulas that were just about as good as my complicated ones and became more familiar with them. That was Wave 3. I started to get complicated once more with some new ideas that came out of posts here and from more advanced software. Wave 4. I am now becoming MUCH more simplified again and have only 3-4 basic templates (which cover the indicators of certain systems I've got, and then a few more that show the ideas espoused by friends of mine here (Dave Evans, Bill Sandusky, Richard Estes, Andy Gabor, Jack Landis, etc...) I look a lot more at weekly charts now, and am less focused on shorter term moves. I think I'm now where I belong (YOU MUST TRADE AS YOUR PERSONALITY DICTATES!) and so I hope this is Wave 5. I've got some Exit indicators, but they really are just Moving Average violations after the longer term indicators start to indicate trend weakness. COME TO TAOTL(ake) in Cleveland this summer and grab hold of everything, but sift through it slowly. Trade on paper for awhile, but you can't REALLY learn until your real money is on the line. BW Chan