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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures -- Ignore unavailable to you. Want to Upgrade?

To: Stoctrash who wrote (7768)	11/3/1998 6:46:00 PM
From: Patrick Slevin	Read Replies (1) \| Respond to of 44573

<is this how the NDX would look > Oh wait a second. You are asking a daytrader how something looks that can span dozens of points a day to comment on how something looks. Ground Zero trades positionally and when I ran out the numbers on A.P. they had no relationship to the parameters I would work within. The channels are huge. This is something he is comfortable with. It's a breakout or breakdown system which appears to be quite reliable to I.D. a Breakdown in an Uptrending Market or vice versa. I may use it myself if I ever get to the point where I position trade. But meanwhile only GZ can tell you if the lines are drawn okay. From te way I gather the tool, the market could trade outside the channel and you would still not have a breakout, breakdown. You may have a throwunder/throwover. Running the spreadsheet convinced me. It's a lagging indicator. A nice indicator, but lagging and a true breakout can cream your potatoes quickly.