More fun with squiggly lines.
Stochastics
- Thread starter shortorlong
- Start date
Quote from MandelbrotSet:
Yes, steal tader knows that.
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.
That's why successful traders spend absolutely "Zero" time trying to convince the "masses" that their methods are right
The most successful traders will not even "reveal" their methods much less try to explain them
I've seen traders win and of course lose with canned indicators.
Marty Schwartz, who has made millions, uses stochastics.
Paul Rotter, who has made millions, uses the CCI as one of his main indicators.
Then I've seen floor traders, who primarily use trendlines on "Price" have dismal records switching to electronic trading. But I've also seen traders that use trendlines do quite well.
A trader's job is to work hard, think outside of the box, be creative, make money and be happy.
Good rule to live by: "Never complain, Never EXPLAIN."
Goinglite
... and this one's a "real beaut".
Man, I loves me some stochastics.
Yum yum!
Man, I loves me some stochastics.
Yum yum!
Quote from MandelbrotSet:
... and this one's a "real beaut".
Man, I loves me some stochastics.
Yum yum!
Nice Chart, while I don't use Stochastics, I have seen winning systems based on them.
But if there are folks who don't believe that, that's ok. What's important is that they find what "works" for them
more fun with stochastics ... it's not a matter of "does this thing make money?", but rather, "when does it lose it?"
***
Well, I hope the OP (orginial poster) got something from the thread, and maybe a few other readers have too.
What's the point of all this?
There are as many was to make money in the markets as there are traders who trade it, no one person has "the way" ... the way is yourself.
Good trading.
***
Well, I hope the OP (orginial poster) got something from the thread, and maybe a few other readers have too.
What's the point of all this?
There are as many was to make money in the markets as there are traders who trade it, no one person has "the way" ... the way is yourself.
Good trading.
A couple interesting things in this thread for sure.
Majority of people seem to be using stochastics as signals towards entering a position. For example, as the stochs cross above 80, or cross below 20.
I don't see as many people saying they are using the stochs as an 'anti-signal'. In other words, using the stochs to stay *out* of a trade - although, one or two people did mention this.
One person mentioned using stochs to determine if price was currently trending, or running a channel. I've thought about this tonight as I was doing a replay session and it's a neat concept. If I see the stochs remaining in the overbought/oversold range, then I can assume price is in a trend on that particular timeline. This can help me decide which setups I should be looking for (ie which 'plays' i want to run) - something out of my channeling playbook (ie Keltner bounces) or something out of a trending playbook (pullback/fades). I'm going to look at stochs in this manner some more..
Thanks for the posts!
Majority of people seem to be using stochastics as signals towards entering a position. For example, as the stochs cross above 80, or cross below 20.
I don't see as many people saying they are using the stochs as an 'anti-signal'. In other words, using the stochs to stay *out* of a trade - although, one or two people did mention this.
One person mentioned using stochs to determine if price was currently trending, or running a channel. I've thought about this tonight as I was doing a replay session and it's a neat concept. If I see the stochs remaining in the overbought/oversold range, then I can assume price is in a trend on that particular timeline. This can help me decide which setups I should be looking for (ie which 'plays' i want to run) - something out of my channeling playbook (ie Keltner bounces) or something out of a trending playbook (pullback/fades). I'm going to look at stochs in this manner some more..
Thanks for the posts!
Well, it's Easter and I'm in a generous mood. Here's an example of the power of stochastics to qualify Price Action signals. This is a 2 minute chart and demonstrates how stochastics will not only tell the exact reversal bar, but also qualify the importance of the top or bottom.
When the stochastic "vapourises" the reversal is minor. When the stochastic takes on a more solid look the reversal is more significant.
I've deleted lots of goodies that are acting on the price action, and others indicators that harmonise with the stochastics to keep this naked study very simple.
I always marvel at the dummies that don't understand that everything works... it's down to your skill to develop and use all that's available.
By all means use naked price action alone and trumpet that indicators lag and live in a cave if you must. Reading Price Action is an essential trading skill, but as I said before, it's philistine to think the world ends there. Indicators tell the zone, importance of the reversal and exact entry WITHOUT LAG!
Your homework is working out what I've done... it's not Christmas
When the stochastic "vapourises" the reversal is minor. When the stochastic takes on a more solid look the reversal is more significant.
I've deleted lots of goodies that are acting on the price action, and others indicators that harmonise with the stochastics to keep this naked study very simple.
I always marvel at the dummies that don't understand that everything works... it's down to your skill to develop and use all that's available.
By all means use naked price action alone and trumpet that indicators lag and live in a cave if you must. Reading Price Action is an essential trading skill, but as I said before, it's philistine to think the world ends there. Indicators tell the zone, importance of the reversal and exact entry WITHOUT LAG!
Your homework is working out what I've done... it's not Christmas