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

To: David Petty who wrote (10533)	6/6/1999 10:57:00 AM
From: Christopher	Read Replies (1) \| Respond to of 12039

David, You are missing the point. I was talking about labeling to shoot down other people. I was labled as a reader and not a trader. I used my car example to show that I am a trader and I make money in the market. Pring and Murphy have been constantly labled as they write books for beginners. This is an easy way to shoot them down and discredit them. However, don't you think it is a good idea and in fairness to me and Murphy and John that you quote some of their books and talk about the knowledge covered in these books and tell us why you think it is only for beginners and it is not advanced material. I have already quoted advanced books for these authors. Richard says that Chande is his favorite. I use Metastock. In the User's Manual and on page 427, an explanation of the CMO(Chande Momentum Oscillator) is covered. On page 428 and under the heading "Divergence", Metastock people say the following about CMO usage: Althought not specifically mentioned in Mr. Chande's book, you could also look for divergence between CMO and the price, as is often done with other momentum indicators. I have never shutdown so far Chande which is Richard favorite although he never hesitate to shoot down mine. The above paragraph by Equis shows cleraly that Mr. Chande does not know how to use his own creation CMO since he neglected to mentioned divergance in his book. This is not a single occurance about Chande in the manual. They always add to what Chande had to say. If Chande does not know how to trade an oscillator then I don't see how he can teach you to do it yourself. Martin and Murphy are THE experts in this nation on using Oscillators. Few days ago I wanted to test people knowledge on this thread about oscillators. I know that every one knows that "the trend is your freind" and that you should trade with the trend. I asked people how they would implement that using oscillators. "How do you trade with the main trend" when you use oscillators, that was my questions. To my surprise, I found out that some people did not know what an oscillator is and no one came up with the right answer. Now this is very basic knowledge. If you don't know how to trade an oscillator then you should't be trading PERIOD. When I told every body how to do it, Richard wanted to test it. Come on!! This is very basic. It is like someone telling you that Planes can Fly and you say that you want to test that!! Christopher