How is the Americanbulls?

Quote from xiangfin:

Has anybody tried the americanbulls (www.americanbulls.com)? They use candlesticks. How is americanbulls's performance?
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I personally think that the site, while an interesting concept, is not a good one because it "cheats".

For anyone not familiar with the site, it basically analyzes candlestick patterns, then issues either "buy confirmed, buy-if, hold, sell-if or sell confirmed" recommendations. The reason I say that the site "cheats" is that if one day it issues buy-if, and the next day it issues "buy confirmed", it uses the opening price of the "buy confirmed" day as the entry price (similar logic applies for sell recommendations).

So essentially the site is looking at the second day's candlestick pattern and saying (for example) that "today was a good day, so I would have bought at the open", not exactly very realistic in my opinion...
 
Don't bother; unless of course you want to see what the dumb money is buying.

Sometimes it's good to know what your victims are looking at, then position yourself to exploit this knowledge.

By this I mean looking in different time frames for an advantage or mirroring some moves then reversing to exploit fear and greed.
 
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