i am looking at the daily charts of indexes so i can get a feel before i start to day trade. i noticed that you can make a nice run on some of the macd crossovers. are there other indicators or tips that i should know about to use with it so i can reduce the amount of times i enter in a false crossover?
macd
- Thread starter notafool
- Start date
The MACD on a daily chart is going to be laggy. You won't know the best time to buy until days after it already happened. 4 hour time frame is going to be quicker, but the daily will give you more accurate information
Actually MACD is one of thr most powerful indicators in my opinion. And at its most basic forms it assured your not too wrong for too long. For me personally its the corner stone of my trading. As with it and any other indicator there is no holy grail
The MACD is a derivative of MAs unless your referring them to use as support resistance then there is no point because MACD is just a faster version of the cross overs not necessarily that its better or worse but virtually the same thing
Also rsi and MACD work together however in my experience they offset each other equally in the long run, MACD will keep you in in powerful trends while rsi gets you out and vice versa in choppy trend thus in the end depending how long you trade the same underlying on these signals it evens out so to cool your head best just use one except with rsi you can get killed in one headshot i feel like where as in MACD it takes many longer shots
altho latelty iam working on developing these same trades with options which might chnage my opinion about rsi as well
Market always needs fresh meat to grind... Good luck.
Market always needs fresh ideas too
Lolz
But true that