Williams %R

[Thunderdog]

My guess is that, to the extent that there may be consistently profitable traders who actually use "indicators," their success is more a function of the other elements of their trading strategy rather than the indicators themselves. I'm guessing that the indicators serve as rather blunt filtering instruments and/or crutches/security blankets that could probably be done away with on careful reflection without materially degrading the trading strategy. Bottom line, I'm guessing that the indicator adds little if any value to a successful trading strategy. Therefore, I'm further guessing that people who rely solely on indicators with no additional "value added" on their part, are probably not profitable.

P.S. Hypostomus, thanks for the heads up on the Camel filters.

 

[Grob109]

Quote from Pekelo:

Well, I trade YMs, and was looking on the day chart with 5 mins.

Today there were 3 buy signals in the first hour, but because it was in a trend, only the 3rd was a valid one. But after that it gave 3-4 another signals and played out nicely. I guess it is like the Bollinger (actually they signal pretty much at the same time), it works mostly in a sideways market....

You're a sketch!!!

 

[Pekelo]

After 4 signals, it is up 25 points. Coinsidered that it was in a rally when it doesn't work, that ain't bad...

 

[Pekelo]

7 signals, only one loser, 50+ points. Very nice, indeed, I guess I have to buy the beer tonight...

I think you guys overanalyze the thingy. Just start to use it and if it works, buy the beer, if it doesn't, buy the beer anyway...

Edit: And a last, 8. signal giving a 15 points drop. Thank you Mr. Williams, wherever you are....

 

[Thunderdog]

Quote from Pekelo:

7 signals, only one loser, 50+ points. Very nice, indeed, I guess I have to buy the beer tonight...

I think you guys overanalyze the thingy. Just start to use it and if it works, buy the beer, if it doesn't, buy the beer anyway...

Edit: And a last, 8. signal giving a 15 points drop. Thank you Mr. Williams, wherever you are....

Fine. Rather than talk about it, just trade it using real money and then kindly report back to us in this thread with your actual, live trade results. That should be more convincing than merely displaying charts and hypothetical trades.

 

[cakulev]

Quote from Thunderdog:


Perhaps I'm just unduly biased against Larry. But I don't think so.

http://www.elitetrader.com/bo/index.cfm?action=view&B_ID=34&CatID=2

Man, you really hate that dude. :eek:

Ali slazem se stobom. Pozdrav!

 

[Pekelo]

Quote from Thunderdog:

Fine.

All is well now, relax. Hey, when did I say I am going to make live calls here? I asked if anybody had experience with Williams, I got a bunch of mumbo-jumbo. I am actually preety good at testing theories and indicators.

If I get this pissy reactions, I am just going to stop posting charts, and go to the chit-chat section for a little politics and not trading related bullshit...

Actually, it humors me that all the mathgeniuses here are looking for the holy grails, evidence, backtesting ability, when it is right in front of them. I mean seriously, did you check the chart? Were those valid signals making money? Sure they were. You don't even need a fancy software for it, just have to visit a freesite, for Einstein's sake...

Try it tomorrow. When it hits 100 short, when it hit zero go long. You will be making money.

Oh, no charge for the idea...

 

[EqtTrdr]

Pekelo:


What are you looking for in terms of a target when entering these trades off the %R signal?

thanks

 

[LivermoresGhost]

Quote from Pekelo:


If I get this pissy reactions, I am just going to stop posting charts, and go to the chit-chat section for a little politics and not trading related bullshit...

Oh, no charge for the idea...

Well, eventually you'll learn that a guy like Thunderdog is just really the resident den mother. He's more concerned about being right than making money. And yes, you can learn some interesting stuff from Larry Williams; he has some creative ideas about intermarket trading.

 

[LivermoresGhost]

Quote from Thunderdog:

My guess is that, to the extent that there may be consistently profitable traders who actually use "indicators," their success is more a function of the other elements of their trading strategy rather than the indicators themselves. I'm guessing that the indicators serve as rather blunt filtering instruments and/or crutches/security blankets that could probably be done away with on careful reflection without materially degrading the trading strategy. Bottom line, I'm guessing that the indicator adds little if any value to a successful trading strategy. Therefore, I'm further guessing that people who rely solely on indicators with no additional "value added" on their part, are probably not profitable.

Blah blah blah, you guess this, you guess that.

How about some hard data instead of mental masturbation?