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Haytham and Tim:
I wonder if the statistics are a function of time
frame (e.g., 1 min vs 5 min vs daily).
Bill
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<A title=H.Albizem@xxxxxxxxxxxxxxxx
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To: <A title=realtraders@xxxxxxxxxxxxxxx
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Sent: Saturday, May 26, 2001 7:49
AM
Subject: [RT] Re: No evidence for lower
NASDAQ yet
--- In realtraders@x...,
Timothy Morge <tmorge@x...> wrote:>
Bill and Haytham:> > > I guess that will be the title of
a chapter in my book: 5 percent failure > rates of triangles--How
to lose money trading without really trying.> > Have a nice long
holiday weekend, folks.> > Tim Morge> Tim,"5%
failure rate is when prices breakout and move less than 5% higher before
curling around and moving below the formation.For ascending triangles, 5%
failures are rare, occuring just 2 % of the time". page 518, Encyclopedia
of Chart Patterns.I use patterns as a part of other techniques which
gives high probability
trades.Best,HaythamTo
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