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Anything better than Stochastics???
- Thread starter donaldduck3419
- Start date
Quote from DblArrow:
And that would be a....?
Make 'em pretty, Chris
look at third check box
http://www.manningtrading.com/3hourmain.htm
Soros said he was poor in math? Most higher math finance models are scorned by above average managers. I know it helps but it doesn't seem to be a prerequisite.
Otherwise the Japanese would have everyone's money right? Usually they have a much greater command of math yet there is no evidence they dominate the world of finance.
Otherwise the Japanese would have everyone's money right? Usually they have a much greater command of math yet there is no evidence they dominate the world of finance.
When stochastic is overbought, why not use a second indicator for a long entry, ? stochastic is highly effective this way.
Quote from NihabaAshi:
What second indicator do you recommend to be highly effective when stochastic is overbought?
Can you post a chart example?
NihabaAshi
Volume would be the simplest one. It differentiates all the possibilities as a leading indicator of stochastics and price.
If you have any charts you use, pick any one of them and then go to any others to see that the theme is consistent.
Stochastics is not a primary qualtiy indicator. secondly, stochastics, as generally documented, is used improperly. The thread originator shows us most of the commone screw ups and how they can be compounded by not having a basic maths quality foundation. Another person here commented incorrectly that Soros was not with it in maths. His EE and Physics training would not have been successful if he were screwed up.
Saying that stochastics signals overbought is a basic error made by less than average people. They do not recognize that Stochastics is a relative indicator and that it's content is based on a percentages of the ingredients. As the ingredients change from, say large to small, the stochastics yields the same output data range in either case.
If a person were to measure stochastics against anything at all, they would mostlikely not choose another relativistic indicator but, instead would choose an absolute indicator.
Were they oriented to making money they would have to choose a non derivative indicator of the market (other than price) to have a strong measureable test reference.
Sto is not an overbought/oversold indicator. So it can never be oversold. But if you want a confirming indicator for Stochastics. A Simple Trendline will do nicely.Quote from NihabaAshi:What second indicator do you recommend to be highly effective when stochastic is overbought?NihabaAshi
-ooO-(GoldTrader)-Ooo-
Interesting. shows nicely that the value of the RSI has nothing to do with making money.
RSI graphics, on the other hand are super signal generators.