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® “Home-Study Course” Study Manual Page 17

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If trading were just science, you could buy a mechanical trading system,
start it, walk away, and come back and be rich. If a “Black Box” system
did exist, it would be so expensive that you and I could not afford to buy

it. In fact, it would probably be kept so secret that we would not know
it exists! Don’t get me wrong, there are some good technical science
“tools” on the market today, but remember, they are “tools” only, not
the “Holy Grail.”

Dangerous Opinions And Dangerous Indicators

When I began trading, my indicators indeed gave me signals that prices
or trends MAY change, but they did very little to help me consistently
time those changes accurately enough to make money. Instead, these
indicators caused me to form counter-productive OPINIONS.

The following examples show how opinions and indicators can be
dangerous.

1. Opinion - Example One:

Let’s say you have bullish divergence in an MACD oscillator, and
you now have an opinion in your mind that prices should change
from the current downtrend to an uptrend.

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