Quote from MandelbrotSet:
Hey ProfLogic
How you do'in?
How the YM treating you these days? ... still catching those 1 pts lifts?
Good trading
Interesting answer to a simple question.
Stochastics
- Thread starter shortorlong
- Start date
Interesting answer to a simple question.
I'm saying that by following those three principles, a trader will succeed in reaching their goal ... and this is true regardless of using any derivaitve indicator (RSI, Stochastic, Ergodic, fr' instance).
They are all derived from price.
... and as Stealth Trader would tell you price is king.
Aye, know what you mean, but each of us choose our own king. Some would say price, some indicators, some both, some say volume leads price and is king of all.
In 1988 I had a KnightRidder Tradecentre and could take moving averages of volume in realtime, set to fibonacci numbers and overlay the volume averages on price.
It was amazing to see how it affected PA. Take volume away from a rising price or add it to a falling price and two setups that look exactly the same without the volume picture are bowing to a very different king.
It's all in what you see, what you create and how you react that counts, not the chart.
In 1988 I had a KnightRidder Tradecentre and could take moving averages of volume in realtime, set to fibonacci numbers and overlay the volume averages on price.
It was amazing to see how it affected PA. Take volume away from a rising price or add it to a falling price and two setups that look exactly the same without the volume picture are bowing to a very different king.
It's all in what you see, what you create and how you react that counts, not the chart.
Oh, and BTW, thanks for contributing to the thread ... LOLOL
Quote from MandelbrotSet:
Those non-existent, useless charts really delivered the goods today, didn't they silvermotion?
Good trading (again)
ha yea! solid smooth trends on the volume chart, i was shorting all the little RSI spikes.
on the other one most pullbacks during the afternoon retraced exactly or almost to the modified MM lines, super place to take shorts.
I believe little jimmy's drivel translates into "I'm a moron who's so weak minded that the mechanism that functions to prevent most people from acting like 7 year olds just can't stop me from spouting playground crap".
st
Interesting discussion. I note quite a few comments from various posters as to how they and others use "squiggly lines" including references to those who wrote books about the strategies. But the real question remains as to how many of those people are consistently profitable year in and year out in all market conditions? How much wealth has Dr. Elder acquired using dual stochastic as discussed in his book? How about other authors? That's the key element no one wants to address. Most respond with the standard boiler plate replies of how each trader must adapt to their personality, etc., and as true as that may be, the fact remains that very few, if any, are truly successful long-term using canned indicators. ET'er's are exempt of course, as they are ALL making money! 
No one to date has been able to provide any reference whatsoever to a tried and true automated system using canned indicators backed by statistical results that can stand the test of time. Most reply by tap dancing with traditional poppycock responses void of any substance. Regarding discretionary systems, there is nothing of value a canned indicator will do that a simple trend line will not, other than bring you late to the party. Many will vehemently disagree with that premise, but statistics show that many fail, and they fail badly. Correlation? Causation? Happenstance?
There are indeed many different methods to consistently trade profitability, consistently being the key word here. Using a canned indicator as a distant reference point has merit; using it as a trade setup or trigger mechanism leaves a lot to be desired. That being said, the recent market activity has been quite favorable for those using indicators for their setups/entries/exits, as the trends and momentum have been spectacular. Any traders not accruing serious money in these market conditions is really in trouble (not to be confused with investing, a common misnomer on ET). A few myopic thinkers will no doubt confuse recent activity with year in, year out consistency and try and use that as a crutch in their defense of indicators. May as well nip that in the bud right here and now.
In regard to the importance of volume, point and figure charting has been around for decades, and its use provides reliable results. If volume, time, moon cycles, fibs, etc. are so crucial to profitability, how does one explain away the proven track record of point and figure?
People, by nature, want to make trading harder than it really is. They want to base it on mystical fallacies and arcane numerical values. Many are taught what to think rather than how to think; their ego and/or lack of understanding will not allow them to change. Bottom line is, if a method is statistically improbable, why do so many cling to it like hair on soap? Struggling traders really need to take a hard look at what they are doing and realize that those truly successful are most likely not using canned indicators as trading signals or trade set ups. Again, does not apply to veteran ET'er's; they know the secret settings.
st
No one to date has been able to provide any reference whatsoever to a tried and true automated system using canned indicators backed by statistical results that can stand the test of time. Most reply by tap dancing with traditional poppycock responses void of any substance. Regarding discretionary systems, there is nothing of value a canned indicator will do that a simple trend line will not, other than bring you late to the party. Many will vehemently disagree with that premise, but statistics show that many fail, and they fail badly. Correlation? Causation? Happenstance?
There are indeed many different methods to consistently trade profitability, consistently being the key word here. Using a canned indicator as a distant reference point has merit; using it as a trade setup or trigger mechanism leaves a lot to be desired. That being said, the recent market activity has been quite favorable for those using indicators for their setups/entries/exits, as the trends and momentum have been spectacular. Any traders not accruing serious money in these market conditions is really in trouble (not to be confused with investing, a common misnomer on ET). A few myopic thinkers will no doubt confuse recent activity with year in, year out consistency and try and use that as a crutch in their defense of indicators. May as well nip that in the bud right here and now.
In regard to the importance of volume, point and figure charting has been around for decades, and its use provides reliable results. If volume, time, moon cycles, fibs, etc. are so crucial to profitability, how does one explain away the proven track record of point and figure?
People, by nature, want to make trading harder than it really is. They want to base it on mystical fallacies and arcane numerical values. Many are taught what to think rather than how to think; their ego and/or lack of understanding will not allow them to change. Bottom line is, if a method is statistically improbable, why do so many cling to it like hair on soap? Struggling traders really need to take a hard look at what they are doing and realize that those truly successful are most likely not using canned indicators as trading signals or trade set ups. Again, does not apply to veteran ET'er's; they know the secret settings.
st
Yes, steal tader knows that.Quote from Goinglite:
That's true
For that matter, they are not using "canned" anything.
What he really is saying is "Prove to me that you know what you know ... IOW, show me what you do, so that I can take it and use it form myself. On the onther hand, I am not going to do the same".
Typical ET bullshit ... looking for handouts and grasping for straws.
Quote from Stealth Trader:
Interesting discussion. I note quite a few comments from various posters as to how they and others use "squiggly lines" including references to those who wrote books about the strategies. But the real question remains as to how many of those people are consistently profitable year in and year out in all market conditions? How much wealth has Dr. Elder acquired using dual stochastic as discussed in his book? How about other authors? That's the key element no one wants to address. Most respond with the standard boiler plate replies of how each trader must adapt to their personality, etc., and as true as that may be, the fact remains that very few, if any, are truly successful long-term using canned indicators. ET'er's are exempt of course, as they are ALL making money!
No one to date has been able to provide any reference whatsoever to a tried and true automated system using canned indicators backed by statistical results that can stand the test of time. Most reply by tap dancing with traditional poppycock responses void of any substance. Regarding discretionary systems, there is nothing of value a canned indicator will do that a simple trend line will not, other than bring you late to the party. Many will vehemently disagree with that premise, but statistics show that many fail, and they fail badly. Correlation? Causation? Happenstance?
There are indeed many different methods to consistently trade profitability, consistently being the key word here. Using a canned indicator as a distant reference point has merit; using it as a trade setup or trigger mechanism leaves a lot to be desired. That being said, the recent market activity has been quite favorable for those using indicators for their setups/entries/exits, as the trends and momentum have been spectacular. Any traders not accruing serious money in these market conditions is really in trouble (not to be confused with investing, a common misnomer on ET). A few myopic thinkers will no doubt confuse recent activity with year in, year out consistency and try and use that as a crutch in their defense of indicators. May as well nip that in the bud right here and now.
In regard to the importance of volume, point and figure charting has been around for decades, and its use provides reliable results. If volume, time, moon cycles, fibs, etc. are so crucial to profitability, how does one explain away the proven track record of point and figure?
People, by nature, want to make trading harder than it really is. They want to base it on mystical fallacies and arcane numerical values. Many are taught what to think rather than how to think; their ego and/or lack of understanding will not allow them to change. Bottom line is, if a method is statistically improbable, why do so many cling to it like hair on soap? Struggling traders really need to take a hard look at what they are doing and realize that those truly successful are most likely not using canned indicators as trading signals or trade set ups. Again, does not apply to veteran ET'er's; they know the secret settings.
st
Good post.
Despite the usual "name calling" that usually happens in these type of forums, this particular post contains some very important points for struggling traders.