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Stochastics
- Thread starter shortorlong
- Start date
Quote from yoohoo:
HG, Going was correct - you make a good contribution and honest debate using examples to show why one technique is better than another is something we can all benefit from.
This is my only point. I am not saying that my technique is better. I am just saying you don't NEED INDICATORS to be a profitable trader. I am not saying indicators are for losers. I am not saying anyone who doesn't trade the way I trade is an idiot.
I just took exception with your comment that without volume you have no gas. I've seen stocks move up 30 dollars on no abnormal volume.
Quote from HolyGrail:
This is my only point. I am not saying that my technique is better. I am just saying you don't NEED INDICATORS to be a profitable trader. I am not saying indicators are for losers. I am not saying anyone who doesn't trade the way I trade is an idiot.
I just took exception with your comment that without volume you have no gas. I've seen stocks move up 30 dollars on no abnormal volume.
Thin Stocks with a low float can move on very little volume. That could be one good example of an exception.
HG what you are doing it great. I just want a closer stop and more aggressive entry with a bigger success rate - that's all. That's the only reason I use indicators. Without them I still succeed, but with a bit less profit.
What utterly amazes me is why PA traders tell traders who incorporate indicators that it is a less expert, less competent, less successful way of trading, without investigating.
To say there is no indicator that preceeds price is your absolute. Going just posted a chart to show indicators getting him into the trade before the reversal box is filled in P&F. If you were to reduce the box size to get you into the same trade using P&F you'd have so much noise you'd wipe yourself out.
So you increase the box size to eradicate the noise and thus increase your stop and entry. Volume can do the same thing - price attacks the resistance level and on P&F you need a reversal box to exit/reverse, but...
Volume can tell you buyers are already out and it's time to reverse or exit before the full box reversal. You have not seen this technique - Going gave an example without volume, just indicators.
I gave lots of examples in Interesting Charts using Naked Trading and then combining indicators to show there's a better way... if you put the effort in.
If it's not for you, that's fine. But why come here to tell us what we do doesn't work when you post in your thread that your way might not be the best - it just works for you. Here you want to say your way is better. Honestly, I'm way ahead of you. But that's not the point.
The point is if you don't want to learn from another thread, stick to your own.
What utterly amazes me is why PA traders tell traders who incorporate indicators that it is a less expert, less competent, less successful way of trading, without investigating.
To say there is no indicator that preceeds price is your absolute. Going just posted a chart to show indicators getting him into the trade before the reversal box is filled in P&F. If you were to reduce the box size to get you into the same trade using P&F you'd have so much noise you'd wipe yourself out.
So you increase the box size to eradicate the noise and thus increase your stop and entry. Volume can do the same thing - price attacks the resistance level and on P&F you need a reversal box to exit/reverse, but...
Volume can tell you buyers are already out and it's time to reverse or exit before the full box reversal. You have not seen this technique - Going gave an example without volume, just indicators.
I gave lots of examples in Interesting Charts using Naked Trading and then combining indicators to show there's a better way... if you put the effort in.
If it's not for you, that's fine. But why come here to tell us what we do doesn't work when you post in your thread that your way might not be the best - it just works for you. Here you want to say your way is better. Honestly, I'm way ahead of you. But that's not the point.
The point is if you don't want to learn from another thread, stick to your own.
Quote from yoohoo:
Duh! Cave dwellers! The thread is not closed - you mind is.
Hey if your going to be a smart ass then screw you. If you actually think that you can develop an indicator that will preceed plrice you would be the first one to do so in stockmarket history.
If you think that someone who said momentum preceeds price, and that momentum falls as price rises you are an idiot.
And then you have the balls to say that this indicator is better than pnf when it was developed by someone who made those statements?
Now I am gone. Carry on with your superior techniques.
Why would a stock move up $30 with no volume? After all I said, no volume - no gas. This must prove me wrong, or at least the exception to the rule.
This is not the trhead for volume studies, but for minds that are not closed, study Wyckoff.
Normally is a case like this the reversal point was where the gas tank was filled - a "Change of Hands" took place where smart money took over. They ride the wave and then CHange Hands again.
Those who don't understand volume see the move without volume but didn't see what happened at/before the reversal.
Here's an example. I have added to volume to the candles so I can see it realtime. Note how price double tops but volume says BEFORE TIME the reversal is to be expected.
Note all cavedwellers, now you have two different examples of signals BEFORE PRICE ACTION.
This is not the trhead for volume studies, but for minds that are not closed, study Wyckoff.
Normally is a case like this the reversal point was where the gas tank was filled - a "Change of Hands" took place where smart money took over. They ride the wave and then CHange Hands again.
Those who don't understand volume see the move without volume but didn't see what happened at/before the reversal.
Here's an example. I have added to volume to the candles so I can see it realtime. Note how price double tops but volume says BEFORE TIME the reversal is to be expected.
Note all cavedwellers, now you have two different examples of signals BEFORE PRICE ACTION.
Attachments
Quote from yoohoo:
Why would a stock move up $30 with no volume? After all I said, no volume - no gas. This must prove me wrong, or at least the exception to the rule.
This is not the trhead for volume studies, but for minds that are not closed, study Wyckoff.
Normally is a case like this the reversal point was where the gas tank was filled - a "Change of Hands" took place where smart money took over. They ride the wave and then CHange Hands again.
Those who don't understand volume see the move without volume but didn't see what happened at/before the reversal.
Here's an example. I have added to volume to the candles so I can see it realtime. Note how price double tops but volume says BEFORE TIME the reversal is to be expected.
Note all cavedwellers, now you have two different examples of signals BEFORE PRICE ACTION.
Can that chart be done on Sierra Charts ?
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.
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.