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'All technical
trend analysis trainings cover scores of indicators and stuffs that work at one time or
another, leaving you to speculate on which one to follow.
Absolute useless for serious traders. You are always
wondering which indicator among hundreds will work today.'
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I
was a trained technical analyst with almost
a decade of experience when I first tried to
apply my knowledge to intraday trading.
Unfortunately, I was aghast to find that
NONE of those famed technical indicators
that we analysts so extensively use in
positional trading - Moving Average, MACD,
RSI, ROC, Stochastics etc. -
work with any
degree of certainty or success in intraday trades.
I have used several types of technical
analysis software - both locally developed
ones and internationally famed. Each of
these software has scores of technical tools
and indicators. But again, unfortunately,
profusion leads to confusion.
At any point of time, while 50% of the
indicators signal Buy, the other 50% say
Sell. So you are back to square one -
speculating on which one to follow today!
Therefore, when I started researching for
creating my own system, I was determined:
there need to be minimum of signals and all
signals must lead to one conclusion - either
a Buy or a Sell - not confusion.
Again, those who have used technical
analysis software would know the mess
such variety of indicators create with your
decision making. Woh! |
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