DAYTRADING Fundamentals Message Board

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Strategies & Market Trends : DAYTRADING Fundamentals

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To: - who wrote (543)	6/12/1999 3:00:00 AM
From: -	Read Replies (1) of 18137

Regarding my post on Bands/Candlesticks, here is a correction to the philisophical paragraph on what's neat about Bands - I left out the key point that Bands are useful in TRENDING markets as well: Anyway [end of soapbox] Trading Bands are truly great when used properly - the neatest thing about trading with Bands is: they are useful in either a sideways (non-trending) market (like now), OR in a trending market. In a sideways market, you can sell the upper band, and buy the lower band - trading either long or short. In a trending market, same thing - still works (almost all indicators are useful for either one, or the other, but not both). If you set Bands up properly for what you're trading, those bands can represent your statistically-likely "boundaries" for price. The principle of trading with bands as indicators is, BANDS CONTAIN PRICE. This is strictly a probability thing. Jake Bernstein has published some excellent, pragmatic Band-trading techniques that work, among others.

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