The Stochastic Indicator
- Thread starter jack hershey
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Oops! Sorry, I did not read the last part of the last sentence. Unfortunately none of these services will work with RealTick.
You may be able to get RealTick to work with TradeStation. However the current version of TS (7.0) requires you to open an account with TradeStation Securities and you must rent TS 7.0 on a month to month basis. I believe the cost is $100 a month.
Take it from someone who actually makes money as a full time sel-employed day trader.
The ONLY indicator I have ever found that consistently makes easy to read correct buy and sell signals is DMI (Directional Movement Index) combined with the ADX (Average Directional Movement Index). I consistently make money almost everyday using these indicators exclusively and have done so for several years. I shouldn't say exclusively because I also reference the Nasdaq futures.
The ONLY indicator I have ever found that consistently makes easy to read correct buy and sell signals is DMI (Directional Movement Index) combined with the ADX (Average Directional Movement Index). I consistently make money almost everyday using these indicators exclusively and have done so for several years. I shouldn't say exclusively because I also reference the Nasdaq futures.
I started off today by jumping into the market without a proper pre-flight, and without waiting for clear signals. I got in trouble right away, reversing out of bad positions just as the market was turning, etc... In no time I was down 4 points. It was the kind of performance I'm striving to get AWAY from.
About midday, I took a break and got ahold of myself. I caught decent parts of the 1:00 long iceberg, and of the 2:00 short iceberg. Despite a few more mishaps (things I know better than to do), I came all the way back to a 3.5 gain on the day. When I was operating at my best, I was doing a pretty good job of iceberging. This is mostly stuff I've learned on this thread. Thanks Jack. If I had NOT gone out uncontrolled in the early morning market, this would have been a 7.5 point day -- easy.
I left A LOT of points on the table today, points I will pick up when I stick to the methodology that I know works, and get down some refinements.
My main problem at the moment is distinguishing between a trend making a new point 3, and a trend that is breaking down. I tend to reverse/sideline out of trends too late. I'm trying to focus on volume as a way to help the situation. I've found that volume often drops as the market moves to the right side of the channel when forming a new point 3. When a new trend is being formed, volume is more likely to be INCREASING as the market moves to the right side of the old channel. Has anyone else noticed this?
About midday, I took a break and got ahold of myself. I caught decent parts of the 1:00 long iceberg, and of the 2:00 short iceberg. Despite a few more mishaps (things I know better than to do), I came all the way back to a 3.5 gain on the day. When I was operating at my best, I was doing a pretty good job of iceberging. This is mostly stuff I've learned on this thread. Thanks Jack. If I had NOT gone out uncontrolled in the early morning market, this would have been a 7.5 point day -- easy.
I left A LOT of points on the table today, points I will pick up when I stick to the methodology that I know works, and get down some refinements.
My main problem at the moment is distinguishing between a trend making a new point 3, and a trend that is breaking down. I tend to reverse/sideline out of trends too late. I'm trying to focus on volume as a way to help the situation. I've found that volume often drops as the market moves to the right side of the channel when forming a new point 3. When a new trend is being formed, volume is more likely to be INCREASING as the market moves to the right side of the old channel. Has anyone else noticed this?
I'm pretty keen on taking part in the post-Labor Day activities. I'd like to volunteer to do some of the stop-logging. This is something I could use some work on, and watching it done in real time -- or better yet, keeping the stop log in real time and getting real time critique -- will help me in this area.
Kleck,
I think you're pretty close to the mark:
From a previous Jack posting:
Enter as both [stochastic lines] show on the 20 (short) or 80 (long) always (last one in).
Exit as both show on the 80 (short) or 20 (long) always (first one in)
(Correct me if I'm wrong, all of you who've been here longer). I think the idea is to capture the entire move up, rather than just the rocket portion.
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