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Strategies & Market Trends : Ask Vendit Off-Topic Questions
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To: blind-geezer who wrote (5480)2/27/2005 6:38:07 PM
From: Vendit™  Read Replies (1) of 8752
 
blind-geezer

I use a different set of indicators that have a much faster reaction time than the ones you just listed so I am able to make an entry and an exit closer to the bottom and closer to the top.

The last thing that I would ever do is tell someone that they should change something about their trading style if what they are doing works for them.

Re: why is MACD a secondary indicator?

When we trade all we are doing is trading the trend, finding the tops and the bottoms and making entries and exits for a profit.

In order to find the top or bottom you have to line up the best set of indicators to do the job. I am a firm believer in "less is best" when it comes to placing indicators on a chart. Too many become not only redundant but confusing.

So all you need to know is the following:

William's %R changes directions first.

Stochastic set on 5-3-3 (fast) the fast line will bend about an hour after William's %R changes directions. Now what I have done is showed you how one indicator is primary and the other is secondary or confirming the first.

Third, look at the intraday candlestick that is forming. Is it filled or hollow? Filled is bearish, hollow is bullish. Now I have showed you a third confirming indicator that you can use to make a decision.

MACD just tells you if a stock or index is worth the trouble to enter based on the position of the histogram. If the bars are too close to the zero neutral line then there will NOT be much of an upswing because there is no momo behind the impending move up or down.

Reid
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