Jack Hershey – MACD and Stochastics helpers for 123 and FTT's

[cnms2]

Quote from cnms2:

leading indicators

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1725223 width=512>

Quote from callmate:

Cnms, care to post some examples of charts demonstrating the above comments.

 

[nkhoi]

Quote from callmate:

.., I was wondering whether we can come up with some kind of a criteria in making decisions for FTT’s ..

look for FTT after the slow %D turns

 

[callmate]

Using the 5,2,3 Stochastics indicator I have hightlighted the extremes and the FTTs to establish some kind of pattern or criteria.

 

[callmate]

I have added 14, 1, 3 to the chart and again highlighted the extremes. I hope that Jack will chip in soon or later. A prosperous new year to all the readers

 

[oddiduro]

Quote from callmate:

Thank you Joab for helping/guiding me, I hope to pay forward one day.

I think this journal will do a nice job of that. Congrats, callmate, looks like you're free

Best Regards
Oddi

 

[CFerret]

I don't quite understand the use of indicators for trading channels... Isn't price and volume (or even just price in the case of FX) enough?

I thought Spy got rid of indicators in his futures thread...

 

[callmate]

Quote from CFerret:

I don't quite understand the use of indicators for trading channels... Isn't price and volume (or even just price in the case of FX) enough?

I thought Spy got rid of indicators in his futures thread...

Correct, Spyder took indicators off his charts, we all concentrated on volume and price for the last 12 months or so. Some people have difficulty when making a decision whether they have an FTT at hand or not. This journal is to discuss whether we can use price volume and some of these indicators that Jack uses to give us an edge. Nothing more!
A Prosperous to New Year to everyone

 

[CFerret]

Quote from callmate:

This journal is to discuss whether we can use price volume and some of these indicators that Jack uses to give us an edge. Nothing more!

I see, well good luck in finding additional edge in those indicators. Just for myself I found that simpler the better and price itself gives enough information and such a simple approach makes trading decisions easier.

Join to New Year greetings... Let this 2008 become the year of great trading discoveries for everyone!

 

[callmate]

Quote from CFerret:

Just for myself I found that simpler the better and price itself gives enough information and such a simple approach makes trading decisions easier.

I agree with you there, I like to keep it simple too, there is enough information in volume and price to make timely decisions but let's see if we can go a step further, if not no harm done

 

[cnms2]

There are numerous posts with Jack's recommended use of indicators. This is a nice and concise quick find:

Quote from jack hershey:
...
the fast stoch gives you entry signals. The longer stochastic gives you exite signals. The MACD gives you entry and exit signals and the volume gives you entry and exit signals and the direction to go in.

The rays on the volume tellyou how much money you can make per minute. It is the market pace.

The stochs tell you the market sentiment. It is long above 50% and short below 50%. The market always has sentiment and pace.
...