Pretty vs naked

This is a discussion on Pretty vs naked within the General Trading Chat forums, part of the Reception category; I recieved my copy of 'Traders' magazine during the week and had a read through today and came across an ...

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Old Sep 24, 2005, 4:50pm   #1
 
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Pretty vs naked

I recieved my copy of 'Traders' magazine during the week and had a read through today and came across an article/interview with Ricky Cheung.

Ricky has two systems called RC success and RC miracles. Now these systems are based on indicators that Ricky has produced using personally programmed indicators which have ranked at the top of the S&P systems in Futurestruth.

Over the last 6 months of reading through this website and learning trading, I've always had an indicator on board and of late I've been leaning towards removing it, now, not sure whether I will.


Ther are plenty of people herein who will say that you can't trade until your indicator free, indicators are lagging and price is the only way forward. Now, this guy is saying patterns are unreliable and price is lagging and indicators can be forward viewing, not past.

The guy must be onto something if his systems have been at the top of the league for the last 6 months?

Any thoughts....

Of course, he is selling and tutoring, at, wait for it, $200,000 per student!
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Old Sep 24, 2005, 5:14pm   #2
 
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jezza888 started this thread 3 students in the USA apparantly...

They think its sweet but occasionally it goes sour!
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Old Sep 24, 2005, 11:49pm   #3
 
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200k is cheap, if you make a few mill as a result - but I'd take some fairly extensive persuading I think before signing up <g>
Latest Traders (I note they're back to sending me 3 copies at a time) is, like most mags, a bit Mickey Mouse - indicators are a way to quickly (and, at times, somewhat superficially) analyse what has been happening up to now... how good the recent past is as a predictor of the immediate future varies. MACD analysis in the latest issue largely (to my mind) misses the point by illogically concentrating on whether recent past is a pointer to future uptrend, when what it really illustrates is a common example of the situation that will cause an erroneous signal - ie a flat period after a trend which will invariably cause divergence of the two periods to narrow, generating a buy or sell that is actually simply a signal that a trend has ended, not another one beginning.
It just reinforces that any indicator CAN help you get an overview of what is happening, but you always need to be aware of why the line is at the point it's at currently... is it because a significant event really occurred, or is it because the market lost direction and the indicator isn't designed to operate in a directionless market phase?
Dave
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Old Apr 10, 2006, 4:31pm   #4
 
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Quote:
Originally Posted by DaveJB
It just reinforces that any indicator CAN help you get an overview of what is happening, but you always need to be aware of why the line is at the point it's at currently... is it because a significant event really occurred, or is it because the market lost direction and the indicator isn't designed to operate in a directionless market phase?
Dave
I have MACD on my chart and although it doesn't provide my 100% signals it certainly helps the current status stand out for me.
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