The math that's directly applicable to markets is boolean algebra. Without that as a basic structure of logic in one's system, it's impossible to build anything of consistency.
How to make money if creating a new technical indicator ?
- Thread starter Streetwise
- Start date
The math that's directly applicable to markets is boolean algebra. Without that as a basic structure of logic in one's system, it's impossible to build anything of consistency.
I once knew someone who sold his wares to a trading platform that sold a signal service.
If you don't want to go thru the hassle of starting such a service yourself that may be an option.
If you don't want to go thru the hassle of starting such a service yourself that may be an option.
Nothing can predict the market true INCLUDING PA analysis BUT indicators do help in analyzing the market by organizing market information into more concise manner.
Many people who use indicators are using it like it's a crystal ball that can predict the next market movement and that is why they get so disappointed that the indicators so called "fail". Market will move however it likes and it doesn't care what the indicator on that chart says. Just because the RSI has hit a supposedly overbought level of above 70 doesn't mean that the price will necessarily reverse even if it has reversed at that level 10 million times before still doesn't mean that this time RSI has hit 70 that it's going to reverse. Past performance is not indicative of the future performance; that's the disclaimer that's stated on every single mutual fund and investment websites and it applies rightfully to technical analysis indicators as well.
Every single action, buy, sell or hold in the investment market, regardless which one even if it's GIC is a gamble because there is always a chance that the investment outcome that you are expecting does not happen and there is NOTHING, no gurus, no charts, no PA, no ticker tape, no CNBC analyst, no indicator, no investment newsletter can ever change that.
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@Streetwise 77 posts and not 1 "like"???
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And by own his admission ,XEla, ''$65 [ times 25, 000 book copies sold]was one of the HIGHest prices '' for trading books ,1970's ; +said the most important thing for him ,was his ability to write ad copy.............................................................................................................
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I dont want to bad mouth him to much , he gave me a free trading book=partial disclosure. His daughter did real well in trading contest. I put on a W% today on a new charting service-it looked like agoofy trainwreck/inverse trainwreck==============================================================================.
I hate new charts when they goof like that; its not the W%-- its the new charts 
W% doesnt work to well in good trends LOLHe made money off the RSI by putting it in an expensive book and then advertising the shit out of it. Later, he made even more money off doing seminars.
http://www.tradersjournal.com/index...iew-with-j-welles-wilder&catid=116&Itemid=543
"Probably, what contributed the most to my success over the years was my ability to write advertising copy." - Welles Wilder
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Good points Streetwise; i hit the like button , so 77 was a small sample
By the way,StreeWise ''any line'' includes a moving average trendline, so it's [ma]subjective.
Market Makers Edge[=Joshua Lukeman] said dont draw your own trend lines=trader bias ,amen.
Keltner bands, any bands,BB, can be wrong 7 months in a row;
but you know its a good trend, in 20 20 hindsight, when its 7 0r 8 months WRONG,in a row .LOL-LOL Welles Wilder likes his ADX much more than RSI; prefer PSAR more than any of his, but dont use it that much....................................................................................
When you say a signal service , this would be like some guy that sells trading signals ? Cheers.