Ranking of indicators

Originally posted by Privateer


What has daytrading & scalping to do with searching for stocks stocks in up or down trends ? ( initial question - see above )

ADX and DMI simply determines whether a stock is in a trend, how strong this trend is and what direction it has - given on the pre-set length of periods.

However, as with many indicators, it's lagging, so I see not much use for it in fast daytrading, let alone scalping.

Some people may consider to trade the crossovers of +DI and -DI - on a longerterm chart, say 5 minutes but, if you're in the market for an 1/8 or a 1/4 , I'd say watch the tape , T&S, the orderbook ( Nasdaq L2 ) and that's about it.

see also chart below
More...



i agree 100% .....all u can control is your stop (once in the trade of course )....
 
Originally posted by darkhorse
who needs an indicator to spot a trend?

is something wrong with your eyeballs? :confused: :confused:
More...

Well those who want to scan a database of several hundred or thousand stocks in order to filter those which are in a trend for further evaluation.

As an alternative, one could go through those thousands of charts and look at them in order to spot the trend ;-)

Regards &
 
Technicals are a waste of time...things can change on a dime for whatever reason,something you won't see on a chart.Best way to daytrade is to watch level 2 action and follow the index futures.
 
Originally posted by NasdaqTrader
Technicals are a waste of time...things can change on a dime for whatever reason,something you won't see on a chart.Best way to daytrade is to watch level 2 action and follow the index futures.
More...

Word is born!!!
 
Originally posted by Privateer


As an alternative, one could go through those thousands of charts and look at them in order to spot the trend ;-)
More...


yep, some of us do look at hundreds of charts in the course of an afternoon :eek: ...hones your skills, tightens up your game and gives a better sense of the macro as a side dish to boot

like the potter who dirties up his hands with the clay, there's mystery in the manual that a scan can't touch... ;-)
 
You must log in or register to reply here.
Back
Top