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Haytham:
I do keep statistics. To compare exactly what he has written, I would have
to re-read the exact setup and then match it exactly. To be frank, I was
asked to review the book for a publication when it first came out. I did. I
was honest. The magazine did not want the truth. Two of the people you
mentioned were more than happy to get the free media in exchange for a
"soft" and friendly review. I am not interested in that. If folks don't
want to know the truth, they know not to ask me now. My problem with the
book at the time?
I no longer have the book. I gave away the copy I was given to review to
someone that thought it looked interesting.
I won't give out my estimate of what the meaningful statistic would be
unless I went back and did the research on my own charts. But it is a very
far cry from what he stated--and I am speaking of daily data, because I
doubt anyone has bothered to keep intraday statistics on chart patterns [I
do. I keep statistics on chart patterns on 13 and 39 and 55 and 89 minute
bars..but I can see why no one else would. It's a huge amount of work].
My last thought would be to take what folks write in books [even me] with
several large grains of salt. I don't mean people intentionally lie--most
probably don't. But for instance, if he said a pattern was accurate 56
percent of the time, do you think that would get people's attention?
Actually, in a large sample of data, 56 pct accuracy would be a nice find,
if you think about it. Then you could add the type of additional methods
you do, Haytham, and have a nice little predictive model.
Have a great weekend.
Tim Morge
At 08:34 PM 5/26/2001 +0000, you wrote:
>--- In realtraders@xxxx, Timothy Morge <tmorge@xxxx> wrote:
> >
> > Haytham:
> >
> > Look, I apologize to you and anyone else that may have offended
>because I
> > was blunt.
> >
> > Best,
> >
> > Tim Morge
>
>Tim,
>
>It is ok, I know you don't mean it. I meant to ask you of what do you
>mean by "It ain't even close to single digits...in fact...well, let's
>just say
>it ain't in that ballpark."
>
>Do you have diffrent statistics?, you wanted to say something then
>you backed off.
>
>Best,
>
>Haytham
>
>
>
>
>
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