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

To: Stuart T who wrote (9261)	2/12/1999 10:38:00 PM
From: Richard Estes	Read Replies (2) \| Respond to of 12039

I am going to guess you are a position trader of about 6 weeks or so. Have no software, use net. Put a 89 day EMA on a chart, when price crosses above the MA buy, when it crosses below sell. Now look at any 50 stocks, how did it work? didn't like it? keep notes, now change time frame so that it fits your expectations. Be sure and look at 50 stocks. keep notes, can you trust it to give you good hits. that is the precise measure that can be used. you don't like results, pick another measure. You won't get in at bottoms or out at tops with any system. you won't have 100% wins. You want an indicator that will signal you at the start of a move and get you out with profit or small losses. The answer is when your system or plan tells you to. CCI(13) going over 200 is a sign of a correction on the way short term. I have been doing this for years. "Reading the charts" and patterns are a very subjective thing.