Stochastics

[yoohoo]

Sierra Charts? Don't know Going; not familiar with the capabilities of Sierra.

 

[Goinglite]

Quote from MandelbrotSet:

A flower grows even in the streeets of NY

TREND and MOMENTUM are the cornerstones of successful directional trading.

While we have spent the evening discussing the concept, it does not appear that a satisfactory conclusion was reached.

Nevertheless, at the point that you can successfully define and identify both elements, you will understand how to make money from directional trading.

Best wishes to all.

A satisfactory conclusion is not supposed to get reached That's the beauty of the market. Everyone has their own concept
I don't trade trend or direction. But I do respect those that do trade trend successfully.

Goingilte

 

[Goinglite]

Quote from yoohoo:

Sierra Charts? Don't know Going; not familiar with the capabilities of Sierra.

Ok, I might check with support when I get a chance.

 

[MandelbrotSet]

Quote from Goinglite:

A satisfactory conclusion is not supposed to get reached That's the beauty of the market. Everyone has their own concept
I don't trade trend or direction. But I do respect those that do trade trend successfully.

Goingilte

That statement probably goes a long way to defining why ET is the way it is.

There is not set curriculum for this, now is there?

 

[nkhoi]

Quote from Goinglite:

Can that chart be done on Sierra Charts ?

trying; remember to drop the zip extension.

 

[Goinglite]

Quote from nkhoi:

trying; remember to drop the zip extension.

Just talked to Yoohoo. He stated that the volume needs to be added the candles. Im sure Sierra charts can have that done.

Btw, how can I make my candles pretty like that?

 

[yoohoo]

Change of hands on 1st low

Retest on low selling volume confirms no sellers to take PA down

Market rises on low volume - the smart money was already in

Cavedwellers see market rise on low volume and think volume is useless

 

[Goinglite]

Quote from yoohoo:

Change of hands on 1st low

Retest on low selling volume confirms no sellers to take PA down

Market rises on low volume - the smart money was already in

Cavedwellers see market rise on low volume and think volume is useless

Since I do trade Turns/Reversals, the volume study on the candles may be helpful.

 

[shortorlong]

Yeah I really like the volume bars on top/below the candles. Very cool.

Even though we've gone past Stochastics now, I'm still getting great value out of this thread.

1 - Gotta look at PnF charts. I feel like I am learning a new technique everyday though, so I am probly not going to rush into PnF. We'll see..

2 - I've heard it many times that I gotta look at volume, and I was doing this before but recently I took volume off of my chart to fill it up with MACD and Stochs. While doing this I was asking myself (where is volume?) and having doubts. I switch to volume bars this morning, but that doesnt do a whole lot unless I constantly check how fast the bars are coming against time. Gotta get back to volume - going to do this right away..

Good stuff here for a new trader imo..

 

[Goinglite]

Quote from HolyGrail:

OK I will post one more time in this thread.


The reason why many people are against indicators is because EVERY indicator is based on the same data. the high, the low, the close, and /or volume.

They are all derivatives of the same thing.


EVERY INDICATOR NO MATTER WHAT IT IS, LAGS PRICE.

The real reason why most people are against indicators is because they can't make money with them. Those folks should stick with pure Price Action methods.

Again, lag is not always a bad thing. Should I get rid of Trendlines because they "lag" price?