What are the most important things for Technical Analysis?
- Thread starter iamnewuser911
- Start date
I went back to using technical charts because they're faster to load than interactive charts. I decided I don't need Turtle Channels since I'm not exactly using the Turtle Trading System.
This volatile market got me thinking maybe I’m trading too long-term and getting too much drawdown. I liked the idea of an Awesome Oscillator, but Barchart doesn’t offer one for a Screener or a Custom View and the closest MACD offered was 20-50. So, I experimented and came up with Barchart AO, which I hope to eventually replace Lazy River with.
Barchart AO Trading Strategy:
Buy funds from the Barchart AO Screener.
Sell funds when the 14-day RSI and the 20-day RSI total less than 100%.
Barchart AO Trading Strategy:
Buy funds from the Barchart AO Screener.
Sell funds when the 14-day RSI and the 20-day RSI total less than 100%.
I took steps and got rid of the Lazy River strategy and the worst-looking funds.
Look for 'invisible lines' where prices seem to gravitate and bounce around. I scan for low and highs to find double tops, support breaks, etc. Look at JBL's chart on the monthly. I managed to short the top because of it, for example, as well as CIEN. I also see seemingly random places where price bounces off of, but if you extend lines when charting, you will be able to see why they bounced off of those particular places.
Whatever indicators, they usually based on three inputs; time,price and volume. Try to incoporate more basic parameters such as socials, sentiment, size, options, level 2, flow of money
I finally got rid of all my Lazy River funds. I took it a little slow selling off funds at a loss that might come back, but I don't really know that they will come back. I finally had a good profit with Lazy River in January and I thought I should "dance with the one that brung ya," but the one that brung ya can also take you away. The thing is having drawdowns is hoping they don't last, but there's no room for hope in trading. You'd better be doing instead of hoping. So, I figured it's worth taking losses if it gets me trading a superior trading strategy sooner. With Lazy River I couldn't tell how close each fund was getting to the Sell point looking at the Watchlist. Now I can tell. I figure the Bill Williams system is about as close to the Holy Grail as I can find, the "Church of What's Happening Now."
Same charts, just a different trading system.
Buy funds when the 14-day RSI becomes more than the 20-day RSI.
Sell funds when the 14-day RSI becomes less than the 20-day RSI.
Buy funds when the 14-day RSI becomes more than the 20-day RSI.
Sell funds when the 14-day RSI becomes less than the 20-day RSI.