stockdaily
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What is the most successful indicator(s) you all use to get in or get out of a trade position?
Trading Indicator
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stockdaily
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jiggly said:
This is obvious. I am talking about 50MA, etc.
commanderco
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stockdaily said:
If you are a newbie, it is PAIN
fudgestain
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Is that after some dumb trading when nooby smacks himself around the head or bangs his head against the wall?commanderco said:
commanderco
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fudgestain said:Is that after some dumb trading when nooby smacks himself around the head or bangs his head against the wall?
Pretty much fs .... its the pain that comes before the realisation that nooby is responsible for himself.
It can last days, weeks, years or it may never subside as in the case of 95% of "wannabetraders"
fudgestain
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Stoploss?stockdaily said:
commanderco
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fudgestain said:Stoploss?
You are a wise person fudge ... the good old SL is the only way to stop the pain
TWI
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The most common thing I see on discretionary traders desktops are SMA's, RSI and Stochs.
Most of the IB technical reports cover SMA's and RSI so it is good to be aware of the implication.
IMO it is all about breakouts and money management, entries being the easier part.
Most of the IB technical reports cover SMA's and RSI so it is good to be aware of the implication.
IMO it is all about breakouts and money management, entries being the easier part.
philhackett
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Read this EMA system often enough to understand it and put all four EMA's on your screen.
http://www.tradertalk.com/tutorial/3x13x39.html
Print it and keep it by you.
Use Directional Movement Indicator with an ADX overlayed on top of it. Enter when the ADX crosses the 20 line which means a trend is in place.
When the ADX crosses the 30 line a strong trend is in place. When the ADX mainatains a steady upward line you may renain in a trade until it shows a clear bend in the line when you should exit and satnd aside.
You will find the Aroon useful too and if you are new, a Keltner channel. Trade when the candles leave the KC and the indicators as well as the 3x13x39 all indicate a trending trade.
As soon as you are in the money, by say 10 pips, place a horizontal line across the chart and use that as an exit point to prevent a loss.
The best traders all use the DMI + ADX system. You should too.
If you are able to set up several screens use the Guppy system too with and Aroon to help your entry safely into a trade.
How to identify trends and trading ranges using the Guppy Multiple Moving Average
The Guppy Multiple Moving Average (GMMA) indicator tool is based on the relationships between groups of moving averages. Each group of averages in the GMMA provides insight into the behavior of the two dominant groups in the market - traders and investors. The indicator allows the trader to understand the market relationships shown in the chart and so select the most appropriate trading methodology and the best tools. The GMMA is designed to understand the nature of trend activity on an end of day, or intraday basis.
The inferred activity of traders is tracked by using a group of short term moving averages. The traders always lead the change in trend. Their buying pushes up prices in anticipation of a trend change. Their activity is shown by a 3, 5, 8, 10, 12 and 15 day group of exponentially calculated moving averages.
The trend survives only if other buyers also come into the market. Strong trends are supported by long term investors. The investor takes more time to recognize the change in a trend but he always follows the lead set by traders. We track the investors' inferred activity by using a group of long term moving averages. This group is 30, 35, 40, 45, 50 and 60 day exponentially calculated moving averages.
I recommend that you use the 3x13x39 and aroon with DMI+ADX to start, and use the Guppy as a reference point once safely in the money.
If I can help you more please email rather than put a message here.
Sincerely
Phil
http://www.tradertalk.com/tutorial/3x13x39.html
Print it and keep it by you.
Use Directional Movement Indicator with an ADX overlayed on top of it. Enter when the ADX crosses the 20 line which means a trend is in place.
When the ADX crosses the 30 line a strong trend is in place. When the ADX mainatains a steady upward line you may renain in a trade until it shows a clear bend in the line when you should exit and satnd aside.
You will find the Aroon useful too and if you are new, a Keltner channel. Trade when the candles leave the KC and the indicators as well as the 3x13x39 all indicate a trending trade.
As soon as you are in the money, by say 10 pips, place a horizontal line across the chart and use that as an exit point to prevent a loss.
The best traders all use the DMI + ADX system. You should too.
If you are able to set up several screens use the Guppy system too with and Aroon to help your entry safely into a trade.
How to identify trends and trading ranges using the Guppy Multiple Moving Average
The Guppy Multiple Moving Average (GMMA) indicator tool is based on the relationships between groups of moving averages. Each group of averages in the GMMA provides insight into the behavior of the two dominant groups in the market - traders and investors. The indicator allows the trader to understand the market relationships shown in the chart and so select the most appropriate trading methodology and the best tools. The GMMA is designed to understand the nature of trend activity on an end of day, or intraday basis.
The inferred activity of traders is tracked by using a group of short term moving averages. The traders always lead the change in trend. Their buying pushes up prices in anticipation of a trend change. Their activity is shown by a 3, 5, 8, 10, 12 and 15 day group of exponentially calculated moving averages.
The trend survives only if other buyers also come into the market. Strong trends are supported by long term investors. The investor takes more time to recognize the change in a trend but he always follows the lead set by traders. We track the investors' inferred activity by using a group of long term moving averages. This group is 30, 35, 40, 45, 50 and 60 day exponentially calculated moving averages.
I recommend that you use the 3x13x39 and aroon with DMI+ADX to start, and use the Guppy as a reference point once safely in the money.
If I can help you more please email rather than put a message here.
Sincerely
Phil
stockdaily said:
