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HI Pluto

I am not a trader instead a long term investor. I have researched trading systems and participated in Simon Brown's traders boot camps. These are very good and you can look them up and download the session from justonelap.com

I have used Simon's Lazy trading system to develop my own system not to trade but to keep an eye on my portfolio and establish where the market is going. My comment for this thread is trading systems based upon technical analysis are great for identifying signals etc. but this is only in amarket not affected by external non-statistical influences. Unfortunately political events, wide currency swings etc. reduce the validity of any statistical projections etc. and it is mainly for this reason that I do not trade based upon technical analyses.  It seems at the moment the markets react to any small or big event and as a result technical analyses cannot forecast this. That's my opinion but Garth McKenzie etc. probably view differently.

Thanks! I've heard of JustOneLap but never taken the time to look at it before, looks pretty interesting, i'll go through the site in more detail tonight.

That's exactly my thoughts, the self fulling prophecy part, which is fine as it's just something extra to pull the odds in your favour so it makes sense to use it.

I agree that you can never cater for everything with purely technical analysis, I think you can get pretty close though

As you mention below political events/currency swings can affect things which is a valid concern.
Why not just include the exchange rate as one of your inputs?
It'll react to any major political event just as quick as you could if you were monitoring the situation yourself.