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- 28 March 2006
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Boggo
They are all momentum based all telling you the same thing.
I'll put up $500 to support Joe if anyone can find me a Single Indicator which shows a profit better than Buy and hold over a period of 2 yrs over the XAO.(any 2 yrs)
In fact I doubt you could get one over the XJO.
I reserve the right to test it on my software if you find it.
Ever read "The Encyclopedia of Technical Indicators"?
100s of them not one out performed.
If Proven wrong Joe gets $500
Now I lost to Sir O once so happy to lose again.
Can test anything you want but will guarantee you NOT ONE will return a profit as a stand alone Indicator.
One of the reasons I Dont use them in discretionary trading at all and only limited in Systems trading.
XAO not tradable and XJO flawed data with opens same as previous days close according to the data . im pretty busy atm with things qld atm but i will get back to this at a later stage . yeah ive read all the books , by the way your original statement said profitable without any caveats , i'll work on it when i can and get back to you .
Hi Tech/a
I think I will have to clarify myself a little.
I agree with you on having more than one.
However, I was attempting to clarify that new traders will trial a indicator and they may conclude if it works or not. However they may not have all the little rules that are available to the indicator in the document covering the indicator.
Example. In Acheliss " Technical Analysis from A- Z " he has 22 lines of interpretation and one graph. Of DMI.
In " Charting Power Stocks" there are 5, A4 pages of description and understanding, 5 charts and two diagrams.
In addition it gives the pitfalls of a sideways market and three additional rules to help reduce losses in this type of market.
Basically for people to understand a single indicator, they will probably need to visit more than one site.
I do realise that DMI is a complex indicator.
Finally if Williams%R can be used to convert $10,000 into >$1million in a 52 weeks competition. Then the fellow can teach his daughter to do a similar thing, I would think
he would understand that indicator much more than the average trader.
I just think the new traders have that much to choose from, they spend an enormous
ammount of time trying everything before finally settling on a method.
Maybe the "KISS" principle is the way to go.
Finally I think " Trading is not about making money-money will flow from good trading".
Cheers .
Because I know that is a trick question, my answer is "what you do".
Because I think that is the only correct one you will accept.
But I say this with humor, not a "hidden agenda".
Joe
I'm not that devious.
Good trading is profitable trading.
We all know you wont get it (Profitable trading) without Positive expectancy and we should know that the best chance of acheiving that is to test what your doing and see if over time it produces a positive expectancy.-----Most (90%) dont do this and most of them fail.
These are the Discretionary traders Fundamental and/or Technical.
Very few of these guys survive let alone KNOW they are trading a profitable methodology---if they actually have a method!!!
If you read through most of the A,B,C threads they consist of opinion---nothing on Trading profitably.
Because to them getting on a trade which is a winner IS trading and sitting in a loser (because its undervalued and looking more attractive every day it tanks) IS trading-------to them---until they run out of capital---then they give up or actually LEARN.
Trade management is never discussed let alone PORTFOLIO management.
The Business of trading is rarely treated as a business and by most is treated like Gambling.
They dont have to Gamble---they just dont realise that.
I'll put up $500 to support Joe if anyone can find me a Single Indicator which shows a profit better than Buy and hold over a period of 2 yrs over the XAO.(any 2 yrs)
btw, that's long and short.
Why does a beginners thread have a challenge in it? I don't see this as helpful for people wanting to chat as a beginner. Why not start a challenge thread in the strategy forum?
We could even have pictures of chests to pin the results on?
Who is GB?Because GB asked me to put my money where my mouth is.
I dont believe a single indicator gives you an edge.
GB does.
Adds interest
I personally would prefer gold stars on the forehead.
This is my post from year 2010 so I have had some more experience since then. My most noticeable recurring adverse result is that whenever I put money on a trade due to favourable past technical signal entry and ensuing price action, the price action is different more often. When I exit on stop loss the price more often than not reverses. I begin to wonder if I am being taken for a ride by the market. Sought of squeezed dry slowly. It could be trading during volatility being the reason. Market timing off another reason. I have enemies too.Look at it this way. If you take a technical entry point into a security, it is only after that entry do you know if it worked or not.
All T.A. is hindsight representation. A 50/50 bet. But! There may be certain technical markers that seemto produce more certainty than others. After all, we are looking for repetition of an event to capitalise on. A better than 50/50 bet.
I begin to wonder if I am being taken for a ride by the market.
I have found that it isn't for me as I stated in my post.Or maybe your beliefs. How do you know that risking dollars on "favourable past technical signal entry and ensuing price action" is actually favourable?
My most noticeable recurring adverse result is that whenever I put money on a trade due to favourable past technical signal entry and ensuing price action, the price action is different more often.
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