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Hmmm

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sponono
Super Contributor
Another entry point: Has corrected to 50 day SMA, Stochastic oversold, RSI has come back to support. Beautiful.
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33 REPLIES 33
Not applicable
looks like the perfect short now that is has come back up to test neckline
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gareth01
Regular Contributor
agreed spoono..been buying last week and yesterday. Trust the fundamentals to prove sustainable with good profits...
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BC02
Super Contributor
and you wonder why people call you a perma-bear
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BC02
Super Contributor
also bought - at 32.50, its had a great run but theres no reason why it cant go more :)
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Fredsed
Super Contributor
Bonzo is more appropriate, Bonzo 1, Bonzo 2, Bonzo 3 etc..
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BC02
Super Contributor
sponono, just wondering why do you look at stochastics and RSI?
Dont the 2 generally show the same picture?
Isnt it better to use a combination of 2 diff indicators like ADX and Stochastics? Or do I have it wrong.
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Not applicable
indicators the refuge of the chart illiterate...ive seem people lose more money using indicators than anything else...use them as a filter but thats all not to make trading decisions regarding entries and exits
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Fredsed
Super Contributor
The Bonzo presents himself as wisdom in a cullender yet again. Tut tut.
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Not applicable
no wisdom just years of observation and mentorship
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BC02
Super Contributor
really dont think you can say that, the turtle traders used indicators for buy/sell signals, John Carter uses indicators for his signals, all these people have made a lot more than you.

My point is everybody has their own trading style - yours isnt the only one, stop putting other peoples styles down like calling them chart illiterates.
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Not applicable
in fact its John Carter who says that!
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sponono
Super Contributor
for the first time you are right. I look at both fundamentals and technicals. the fundametals tell me WHAT to buy and the technicals tell me WHEN to buy it. DEP I use largely the stochastic as an entry point indicator and I use the RSI just to confirm what Stochastic tell me.
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BC02
Super Contributor
then why does he teach everyone his TTM squeeze system, which I've used and it works! Even your 1 friend Luma trader is mechanical.
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Fredsed
Super Contributor
Come on Bonzo - give it up with the endless pretentious deceptions. You're outed already.
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Not applicable
Thats got nothing to do with indicators like RSI etc...it has everything to do with price action and the PRICE deviation from the mean (i.e. bollinger bands and keltner channels)...
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BC02
Super Contributor
uhmm, I guess Im sorry then I didnt know that an indicator written for when the bollinger bands and keltner channel cross combined with the momentum indicator isnt an indicator.

Oh and Luma's system of the 7/21 crossover which can be seen through the MACD indicator isnt an indicator either... or then again should I tell Luma you simple just call him a chart illiterate and that he doesnt deserve the millions his made in the past 3 years.
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Not applicable
LURAMA does not use MacD...i know his system intimately....pse aquint yourself with the facts before you speak...trading systems may use indicators but indicators are not trading systems. Use whatever you like...the prupose of my post was to suggest that the overliance on indicators is a problem and that they should not replace price action and dow theory principles
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BC02
Super Contributor
Lurama uses 7/21 crossover on 5min charts, its not difficult to know his system intimately. MACD = Difference between 2 moving avg i.e. 7/21 crossover = MACD crossover with 7/21 parameters.

The purpose of my post is that everybody trades there own system irrelevant of dow theory principles and regardless of how you trade. Even Simon's mechanical systems never incorporate dow theory and his systems work.

Calling them chart illiterates is both arrogant and stupid.
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Rams
Super Contributor
Well, Charty, you confusing yourself even more now
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