Yes, there is, but perhaps it is not present in amibroker, metastock, MT,
etc. The proof of this is simultaneous patterns in markets. There are
people who can read every move with great accuracy, but its unlikely that
we have even heard of their names.
On Sat, 21 Nov 2009 13:35:41 +0530, Pankaj Chawla <pankaj013@gmail.
wrote:
> Will you be kind enough to point to an indicator/pattern/
> doesnt work of historical data. Probability inherently depends on past
> behaviour to predict future outcomes and there is no other way around it
> except if we are able to formulate an equation complex enough that can
> take all variables that affect the market and come up with an output.
> Since price, volume and earnings are the lowest common denominator
> in almost all the thousands of variables that impact the moves, they
> are considered as an approximation good enough for current understanding
> and compute power to get the probability.
>
> Cheers
> Pankaj
>
>
>> For ex: We all know that 'past performance is not a guarantee
>> of future performance'
traders
>> using moving averages. My purpose is not to criticize anybody's moving
>> average trading system. Buy using moving averages, we are forming a
>> subconscious assumption that price will behave as it has behaved in the
>> past. Since our assumption is wrong or rather not always correct, a
>> trading
>> system which is based on that assumption will automatically inherit the
>> flaws.
>>
--
Thank you,
-Rohan Shenoy.
+91 98191 48661 , rohanshenoy.
http://finance.groups.yahoo.com/group/Technical-Investor/files/!Forum Rules of Conduct.txt
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