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Strategies & Market Trends : Technical Analysis - Beginners
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To: SteelBlueIce who wrote (2012)1/17/1997 10:36:00 AM
From: David Russell Coburn II   of 12039
 
Hi Jerry,

I guess you would have to say I am definitely "hands on" - drives people I work with crazy!!! Sometimes my wife tooooooo. Oh well I gotta be me.

Yes, I do use the indicators to get out, but I like to look at the chart and confirm in my mind that the indicator hasn't been fooled. For example the StochRSI has been whipsawing just above 30 for some time and it finally touches the line. This would generate a signal, do I want to get in? I don't know till I look at the charts: Whats the volume doing? What are the MAs doing? etc... These are probably obvious statements, but remember I am a beginner so they seem like revelations to me.

IMO you can optimize your selection of indicators on an individual stock basis. I like to look at the historical chart to see what kind of behavior the people who are buying a particular stock have had. IMO the same types of people will be buying in the future. IMO any paticular stock will to some degree attract similar personalities and therefore chart patterns will repeat. Therefore IMO if a particular indicator has been good with a particular stock in the past it deserves more weight in the future. If it has shown poor results in the past it should be given less weight.

Thanks for your previous post, it was very enlightning. It helps me to trust myself a little more. I have a need to understand why. Not why the price is up or down but why the indicator it signalling or why the resistance/support is where it is. etc.... These understandings allow me too sleep at night, which I havn't been doing much of lately.

Thanks again

DRC
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