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da_cyberdude

12/01/05 2:46 AM

#47890 RE: da_cyberdude #47889

Just wanted to add - you must have total objectivity when using TA - you can not be too attached to any stock when using it.. again IMO

Just my 2¢ - goodnight

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Psionic Trader

12/01/05 4:59 PM

#48987 RE: da_cyberdude #47889

Wow, I'm glad you've managed to make a profit out of it. Of course, using charts could be great if you really know what you are doing and if you've discovered something new.

However, are you going to tell me that you made crucial decisions based on what your charts told you? I'm sure you bought into those stocks because you believed in the business plan. All we need is a good DD, staying current on the PRs, and making sure that the company isn't a scam.

I'm saying there's no point in sweating bullets over these computer generated charts indicating daily ups and downs, erections and shrinkages, breaking some box, hitting some support/ resistence levels, etc. A monkey playing dice could give you a similar "indicators" as that fancy chart, probably the same level of relationship to each of the millions of data points plotting poisson distributions from your laboratory experiment, which for short term and for practical purposes can safely be assumed to be random.