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Strategies & Market Trends : Longer-Term Market Trends -- Ignore unavailable to you. Want to Upgrade?

To: AllansAlias who wrote (187)	4/8/2008 1:14:50 AM
From: nspolar	Respond to of 3209

'About your charts, without the hindsight -- without looking back and seeing how the indicators worked -- how would you use them to trade at each of the important points on your chart -- as if you were taking a piece of paper, covering the chart, then moving the paper to the right. With only the price action and indicators you can see, do you have a means of trading as you move the paper?' No, not worth a shit. I am not a trader really, and do not try to be. Most of us probably evolve. Comparatively I feel I have been at this only a short time, and some of these methods (EW being one) take a lot of work and years, and lot of hard knocks. Over the last several months I find I spend more time looking back, to look forward, flipping from dailies to weeklies to monthlies. I think if one wants to do EW with much validity they have to do this to some extent. And I probably use the RSI more than anything else, and you may note I use a fairly long period on it. It is always pretty honest, so I find. My eyes more than likely always go to that one first. My MACD is a bit different than normal as well, something I picked up from Mr. Schultz (his spinner he calls it). The red line within that spinner is quite important, over longer time periods. And since I try to do EW, I try to use the TA parameters I do use to help pick apart wave action. Sometimes it works, sometimes not. But that is another reason I stick with the same stuff. Once in a while I look at some other stuff, when I am just doing TA. When I at home and have Qcharts at my disposal the other parameter I sometimes look at is OBV. Probably should look at it more actually. I don't think it lies too much either, if used half way appropriately. And I agree with your point, in that TA can be over used. Some of these charts that guys like Maund and Dr. Hook(think that is his name) use with 10 different TA parameters are a bit off the wall. I get disoriented looking at them. Many of the TA parameters are similar in any event, so why so many?