Never ask a man where he's from
If he's from Tx he'll tell Ya
Otherwise - don't insult him
=====================
You think H123 cruel..., you haven't been properly introduced to Mr mkt then
LOL
RN
Intermediate-term trading
- Thread starter Steve Ladd
- Start date
Never ask a man where he's from
If he's from Tx he'll tell Ya
Otherwise - don't insult him
=====================
You think H123 cruel..., you haven't been properly introduced to Mr mkt then
LOL
RN
Don't know of any one book, just 38 years of learning about the markets. Edwards and McGee on charting and John Hills books from late 1970s I reread twice a year- pre-home computers.
Strong accent? ROFLMAO, first time anyone has told me I have an accent growing up in the USA. Grew up in a state that borders President Lincoln's birth state, the airport was once an Apple Orchid and now reside along border where we need them walls Mr. Trump. Well, perhaps you living so far up North near Canada, I might have an hard accent, you live near that Submarine base? Guess I have mixture of Yankee & Tex/Mex, for fun can change my voice to areas I travel, though my writing is sloppy, direct and try to be humorous, just ask my "teacher" Redneck. He's a teachen me how to be a redneck, this weeks I learned 2 plus 2 is b4 BINGO. lol.
Strong accent? ROFLMAO, first time anyone has told me I have an accent growing up in the USA. Grew up in a state that borders President Lincoln's birth state, the airport was once an Apple Orchid and now reside along border where we need them walls Mr. Trump. Well, perhaps you living so far up North near Canada, I might have an hard accent, you live near that Submarine base? Guess I have mixture of Yankee & Tex/Mex, for fun can change my voice to areas I travel, though my writing is sloppy, direct and try to be humorous, just ask my "teacher" Redneck. He's a teachen me how to be a redneck, this weeks I learned 2 plus 2 is b4 BINGO. lol.
And never shake the hand of a man with missing fingers
What have you been studying for months that you don't already know this?
Get familiar with investopedia.com, they define a great many trading terms, including "price action" and "technical indicator".
Fwiw I see a technical indicator as a mathematical expression based on recent price data and/or volume data of a trading instrument.
Also:
http://www.elitetrader.com/et/index.php?threads/what-does-price-action-mean-to-you.55804/
So the PA man meditates on the bare chart. Doesn't even draw in S&R lines because you don't need to draw it to see it. While you engage price in flights of mathematical fancy. Thinkorswim has about a hundred indicators but you create more because what's canned is already stale. Do you find value in volume? I haven't found any value in it yet.
"Guys who design indicators or systems make more money selling them, than using them."
when you start down the road of digging into the mountain of indicators/methods, you will end up in a loop. Don't waste valuable resources, some of the simplest methods work the best.
(use solid money management and Keep it simple stupid).
Speaking only for myself, I have found value in only two canned indicators that shall remain nameless. One can be used as is. The other one requires considerable tweaking to reach its full value. As far as volume, I use it only to assure that my trading instrument has liquidity.
I have yet to find a monentum indicator that can beat my custom model to an entry. Been through that loop already, and eventually realized that I had to actually work for my money
Steve. The setups in the following website have been mentioned on multiple trading websites. It's all free information. I've heard of some of the stuff but never tested it. Maybe it will help you spring up some ideas
http://www.trading-naked.com/Setups.htm
http://www.trading-naked.com/Setups.htm
Thanks for that link, and to all of you. My head is spinning from how much my view of investing has changed. Not long ago I concluded, from books, that it is possible to time the markets with macroeconomic indicators and MA crossovers. I don't believe in it for myself anymore, not if "to time" means predict the future. Maybe the PA man can meditate on the bare chart and see where it will go. Maybe the indicator man has an edge on what will happen to the right of the chart. I believe in reversion to the mean, and I might as well have it on my side as a filter for finding candidates. In a sense that is prediction, but it worthless in the short term. I will study chart patterns just because, I don't know why yet. They're kinda cool. Back to what "to time" means. I now think it means to wait until a trend starts and get on it, then wait for it to end and get off it. Get on too late to catch the initial upswing and get off too late to miss the initial drop, but call it good. Deal with the whipsaws. Exit price concerns me most just now. How much to sacrifice to know the trend is over? Since I don't want to keep being yanked back into short-term trading, it would seem I have to set exit price lower and lose more profit. Maybe the drop-from-the-top should be 5-10% if I have ridden a trend up. Lower at trend beginnings when they haven't proven out yet. I doubt the exact rules for entry and exit will matter much. They just have to be in the right ball park. I also need to build my watchlist of assets, and learn how to short so I can do the whole thing in reverse.