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View Diary: Technical Analysis & The Fallacy of a News Driven Stock Market (17 comments)

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  •  agree (2+ / 0-)
    Recommended by:
    pollwatcher, Miggles

    as a full time trader I can say from experience what works are my programmed systems properly back tested and validated against historical data.  Lines drawn on charts are  often simply bait for the unwary - it is commonplace to see a name "break support" and trigger an avalanche of stops before heading up without pause.

    •  TA can be self fullfilling (2+ / 0-)
      Recommended by:
      wilderness voice, Miggles

      If enough people are using the same TA, it can move a stock for a brief time, and like you say, the big players can force the stock to those points and take advantage of it.

      Care to share any info about those programmed systems?  I'm always curious about mechanical systems that can help you put those darn emotions aside.

      •  most of my systems are proprietary (0+ / 0-)

        and not able to disclose because of the risk of being rendered ineffective.  One system I use that is public are run-ups to biotech catalyst events.  This system is traded at the subscription site Not taking credit for it - I merely validated it after subscribing. Feel free to PM me for further discussion of trading.

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