Technical Analysis - Beginners Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Technical Analysis - Beginners

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: gonzongo who wrote (10291)	6/1/1999 2:37:00 PM
From: Tom Halkar	Read Replies (2) of 12039

Hi Gonzongo It took a little time but here it comes.... windy Tom- what makes it a killer indicator? StochRSI 14 that is- What time period of trade? what entry? what exit? Gonzongo I know you know the answer to the above statement. So this is for others to consider in making better trades. Something I have notice is that many people give great advice on this thread with just enough information to get you going and sometimes there not enough. There is usually more under the hood for this great advice, but it will require the person to take ownership in doing something with the information. The reason is what I see as value in the indicators may not be what you see. What is important is what you see to consistently make you money on a trade. I don't know how many time I have read or been told about the StocRSI 14. enter when it crosses above 30 exit when it crosses below 70 I have look at it many times and it wasn't until last week that it open up to me. The indicator didn't change it was what I saw that changed. The people here can only guide you. There are only so many indicators out there to used and your system needs to consist of 5-7 of your favorite ones to build a system on. No one can tell you which ones. That is where you have to prove it to yourself. The rest of the training needs to be applied to understanding yourself. It is key to know yourself and what you like in a trade and what you don't like in a trade. And saying that you want to make money doesn't cut it. Answer these types of questions How long do I want to hold a trade? What part of the trade am I willing to enter with confidence and certainty? What is my definition of making a safe and risky trade. Your answer must be base on indicators If I were to build the perfect system What is my time frame to hold a trade? What indicators do I like and why? What are there short coming of my chosen indicators? What holes do I have in my system? What changes do I need to make to my system to use it consistently and be discipline with it? What are my short comings where I get in the way of making a good or poor trade? When you think you have something to call a system test it by paper trading it. Paper trade your system and make notes of why you enter and exit a trade Notice if it get the results you like. If not keep what is good about it and re-engineer the short coming. Got off the subject a little. Now to answer your questions. I think of StocRSI 14 as a trend indicator and when it crosses above 30 it moving into an uptrend when it crosses below 70 it moving into a downtrend. I look at the relationship of the Daily and Weekly charts. I don't know of other, but I like time frame of 3 - 5 day trade window and use the StocRSI 14 for where price direction is likely to go. The cross up the 30 doesn't always means it going to move up right away. You notice the word I a lot, because it will be you that makes it work. I use to sit here and ask myself why are the expert not giving there trade secret to us to learn. The answer is there system is a part of them and they spend long hours studying the charts and in the process they learn of themselves to understand the process that works for them. Tom The Windy City

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next