StockFetcher Forums · Filter Exchange · the "newest" Elder thread<< 1 ... 5 6 7 8 9 ... 12 >>Post Follow-up
alf44
2,025 posts
msg #65070
Ignore alf44
modified
7/16/2008 11:22:58 PM

...Elder Ray my azzzzz !!!

GAWD !!!


It's just another freaken "garden variety indicator" people !!!


Can you trade from it ???

Sure !!!


Can you trade from RSI...from MACD...from CCI...from Stochastic...

...uhhhhh...SURE !!!


I have said it before...don't be fooled by "snake oil salesmen" !!!


There ain't no "magic"...no "MRI"...no "hologram" ... in ANY of these indicators !!! PERIOD !!!


The BEST "indicator"...is PRICE ACTION...PRICE ACTION...is real time !!!

EVERYTHING ELSE is derived from PRICE ACTION...and therefore LAGS !!!

And ANYONE ... who claims otherwise...is...

...well...


...DEFINITELY NO "GENIUS" !!!...



Regards,

alf44

alf44
2,025 posts
msg #65079
Ignore alf44
modified
7/17/2008 12:08:25 AM

...but seriously...

I have said it before...don't be fooled by "snake oil salesmen" !!!


There ain't no "magic"...no "MRI"...no "hologram" ... in ANY of these indicators !!! PERIOD !!!


The BEST "indicator"...is PRICE ACTION...PRICE ACTION...is real time !!!

EVERYTHING ELSE is derived from PRICE ACTION...and therefore LAGS !!!

And ANYONE ... who claims otherwise...is...

...well...


...DEFINITELY NO "GENIUS" !!!...



Regards,

alf44


arby347
87 posts
msg #65083
Ignore arby347
7/17/2008 12:24:05 AM

RIGGS, FT:
I made it clear that I am not the expert on Elder. I was drawn into it by RIGGs and others in previous threads. I read his first book and now reading the Trading Room one. RIGGS,I defer to you and thank you for what you have shared. I only started this thread to keep the dialog going. I am hoping that the negative and argumentative posts do not get out of hand to the point of being shut down again by SF.
For position or swing trading being long since the 3rd week of May would have been fruitless almost accross the board. FT, were you looking for short plays during this time?
Elder, in the Come into My Trading Room book advocates using the slope of the 26 week EMA of a stock as the first screen. Not from Elder: maybe looking at the slope of the 26 week EMA of SPY or QQQQ as a determinant of buying or shorting should be done first.




arby347
87 posts
msg #65088
Ignore arby347
7/17/2008 12:36:47 AM

The best way to end some fights, if you really want to, is not to respond.

alf44
2,025 posts
msg #65090
Ignore alf44
modified
7/17/2008 12:42:24 AM

...I repeat...

-----------------------------------------------------------

"Elder Ray is just another freaken "garden variety indicator" people !!!


Can you trade from it ???

Sure !!!


Can you trade from RSI...from MACD...from CCI...from Stochastic...

...uhhhhh...SURE !!!


I have said it before...don't be fooled by "snake oil salesmen" !!!


There ain't no "magic"...no "MRI"...no "hologram" ... in ANY of these indicators !!! PERIOD !!!


The BEST "indicator"...is PRICE ACTION...PRICE ACTION...is real time !!!

EVERYTHING ELSE is derived from PRICE ACTION...and therefore LAGS !!!

And ANYONE ... who claims otherwise...is...

...well...


...DEFINITELY NO "GENIUS" !!!... "


-------------------------------------------------------


Regards,

alf44

FuriousThug
256 posts
msg #65093
Ignore FuriousThug
7/17/2008 1:23:58 AM

FT, were you looking for short plays during this time?
Elder, in the Come into My Trading Room book advocates using the slope of the 26 week EMA of a stock as the first screen. Not from Elder: maybe looking at the slope of the 26 week EMA of SPY or QQQQ as a determinant of buying or shorting should be done first.

-------------------
Arby:
I'm maybe a month into even having heard of the Elder Ray so it's new to me. But, again, the short version of the filter you posted (with ADX) obviously has been more reliable of late when I go back manually.
And w/r/t the 26week EMA: I guess that was the crux of my confusion in my last question was where was that long term, first screen trend indicator? The 13 or 9dma slopes don't give long term signals nor does 2 or 3 weeks of weekly MACD readings. Hence, I was coming up with stocks on a long screen that were clearly in a longterm downtrend and vice versa.
I'm not sure a general QQQQ or SPY reading is going to tell me much that I don't already know about the general market. However, I will play around with the 26wma to see if it yields any help in the individual screens.
Thanks.
FT

arby347
87 posts
msg #65111
Ignore arby347
7/17/2008 12:04:48 PM



FT, my point was that since the 3rd week of May all long signals on individual stocks should have been ignored in order to stay safe. The change of a SPY 26 week EMA slope (I was using the 13 week EMA of the MACD histogram before)
meets my need for a mechanical decision making method. I probably need to compare and contrast the two indicators

Getting back to Elder:
If your outlook is swing or short term trading then the first screen of trend should be based on weekly, not daily measures, This is where the slope of the 26 week EMA comes in.

My filter is a project in process. I would like to add to it and refine it without over filtering to the point of having very few hits. Any comments and additions are welcome as are entiirely different filters.

FT, I only have about two more weeks than you on working with the Elder methods. Thanks to the threads and individuals who introduced this and my further readings of AE's books, I think I found something(the triple screen) that pieces many things together that is close to being a turn-key method. This is what the triple screen does, however you do not have to follow it to use some of his other trading contributions

Most of what has been written about here in SF forums regarding Elder has been focused on what could be included in the second screen of the triple screen.The third screen of entering a position would keep you out very often in a down market. In other words, you probably would not have entered the positions for the stocks resulting from my filter because most of the stocks never "turned green" . Elder suggests entering when the price exceeds the high of the previous day.
One thing I wonder about is when does a buy signal turn stale. For example you get through the first two screens in the Elder triple and never get it meeting the 3rd screen. How many days can you wait to enter properly?





.




alf44
2,025 posts
msg #65113
Ignore alf44
7/17/2008 12:27:53 PM

...arby...

"Tide...Wave...Ripple"

alf44
2,025 posts
msg #65133
Ignore alf44
modified
7/17/2008 9:53:47 PM

...Elder Ray is just another indicator !!!

There ain't no "magic"...no "MRI"...no "hologram" ... in ANY of these indicators !!!

PERIOD !!!

----------------------------------------------------------

The BEST "indicator"...is PRICE ACTION !!!

PRICE ACTION...is real time !!!

EVERYTHING ELSE is derived from PRICE ACTION...and therefore LAGS !!!


Regards,

alf44

---------------------

PS...if you MUST use "oscillators/indicators"...use'em as "filters"...as "confirmation"...

...confirmation of price action set-ups !!!


That is...


...don't look as "INDICATORS" as...the TAIL...waggin' the DOG...

...as...apparently SOME of the more misinformed DO !!!


Never forget...


PRICE ...is...the DOG !!!

chetron
2,817 posts
msg #65135
Ignore chetron
7/17/2008 10:20:12 PM

WITH ALL THE FOOT STOMPING ALFS BEEN DOING TO RUIN AT LEAST 3 SEPARATE THREADS ABOUT THE ELDER RAY, I AM BEGINNING TO BELIEVE THE INDICATOR IS " MAGIC ".

THE FEAR THAT ALF HAS THAT ANYONE WHO LEARNS THE ELDER RAY INDICATOR WILL BE TAKING AWAY THE ONLY EDGE HE HAS LEFT. IT MUST BE ALF'S "MRI' INTO THE MARKET.

I AM GOING TO HAVE TO STARTING READING UP ON THIS, BECAUSE IF IT IS THIS IMPORTANT TO ALF, IT'S GOT TO BE A "HOLOGRAM"



StockFetcher Forums · Filter Exchange · the "newest" Elder thread<< 1 ... 5 6 7 8 9 ... 12 >>Post Follow-up

*** Disclaimer *** StockFetcher.com does not endorse or suggest any of the securities which are returned in any of the searches or filters. They are provided purely for informational and research purposes. StockFetcher.com does not recommend particular securities. StockFetcher.com, Vestyl Software, L.L.C. and involved content providers shall not be liable for any errors or delays in the content, or for any actions taken based on the content.


Copyright 2016 - Vestyl Software L.L.C.Terms of Service | License | Questions or comments? Contact Us
EOD Data sources: DDFPlus & CSI Data Quotes delayed during active market hours. Delay times are at least 15 mins for NASDAQ, 20 mins for NYSE and Amex. Delayed intraday data provided by DDFPlus