freshpotato
36 posts
msg #56889
- Ignore freshpotato |
11/20/2007 6:10:02 PM
Hello,
Too bad StockFetcher don't have a pool feature on the posts. I wanted to run this by you since most of you probably have been in the game longer than me.
As most new traders I spent my majority of my first good half year on technical analyiss, only yo find that most of the indicators are a distraction at best.
What I use now is price, some moving averages and linear regression lines. And support / resistance.. and that's about it.
Anybody interesting in sharing what kind of indicators you are using, and most importantly how you are using them.
Have a great day
freshpotato.net
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jrbikes
624 posts
msg #56892
- Ignore jrbikes |
11/20/2007 7:15:54 PM
All the sudden I got this acute urge for some french fries!
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freshpotato
36 posts
msg #56899
- Ignore freshpotato |
11/21/2007 12:38:22 AM
Sorry guys this should be under general.
I just realized after shutting down the computer that I forgot the most important ting of all, explain how I use the indicators mentioned above.
Moving Averages.
I use this for trend confirmation, usually I use a 100 or a 200 MA just to verify that I'm in the rigth side of the trend.
Linear Regression lines I use for my Butterfly / IC trades. I usually uses a 45 og 90 days, 90 days is better (things that are in motion tends to say that way)
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TheRumpledOne
6,407 posts
msg #56912
- Ignore TheRumpledOne |
11/21/2007 3:08:23 PM
I use a few HORIZONTAL LINES.. open, previous close, etc...
Just take the trade at the line.
That's all you need.
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freshpotato
36 posts
msg #56916
- Ignore freshpotato |
11/21/2007 4:35:01 PM
Hello TRO
I'm a huge fan of trend lines myself, the only problem is finding them :)
I have a few ideas, but not quite sure on how to program them:
I used the count feature to see how many times the price had closed near the 52week high, the only problem is that the 52week high changed during the time, so the result are inaccurate.
I have also used a filter finding stocks were high is above 20 days MA, but not close (indication a attempt at breaching a trendline)
If you use a script to find trendlines, what timeframe are you using? I usually used 52week high, og 26week. Or a 90 / 180 day channel
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nikoschopen
2,824 posts
msg #56927
- Ignore nikoschopen |
11/21/2007 10:19:49 PM
I pretty much agree with TRO in that most of the technical indicators are nearly worthless. Even the chart patterns like triangles and head and shoulders are useless since they all more or less boil down to the combination of horizontal (support and resistance) and diagonal (trendlines) lines. Moving averages, such as SMA(20, 50, 200) are important only because they are so widely monitored by big institutions but their usefulness is very limited in scope. The only exception to the indicators is the utilization of the Bollinger band and the Keltner channel when used in combination, which I've explained elsewhere.
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guru_trader
485 posts
msg #56934
- Ignore guru_trader
modified |
11/22/2007 12:20:28 AM
Re: Hello TRO
I'm a huge fan of trend lines myself, the only problem is finding them :)
Oh, no ... you just opened up a big can of TROworms (TROrms)!
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TheRumpledOne
6,407 posts
msg #56944
- Ignore TheRumpledOne |
11/22/2007 12:51:22 PM
TROworms ??
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jrbikes
624 posts
msg #56967
- Ignore jrbikes
modified |
11/24/2007 8:05:29 PM
Silly wabbit, trixs are for kids!
Trend lines work if you believe in them, SMA,s work if you believe in them, you have to BELIEVE!
I believe in Price! especially when its higher than what I bought in at!
P.S.
Them frys sure were good!
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TheRumpledOne
6,407 posts
msg #56982
- Ignore TheRumpledOne |
11/25/2007 12:21:59 PM
"Trend lines work if you believe in them, SMA,s work if you believe in them, you have to BELIEVE! "
NO, you have to TRADE! Believing a stock will go up when it's going down is futile at best.
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