damn, those are some sexy looking charts ditch! (i hope you weren't applying the same methodology that afternoon, btw ...)
Yes, I agree. I use stochastics with a great deal of success. You need 3 indicators basically. 1.)trend....MAs or EMAs 2.)range.....Bollinger bands, channels, or pick one 3.)oscillation....stochastics, CCI, RSI or pick one. Personally it is EMA, BB and Stochastic for me.
What in the hell are you trying to do - give the store away? Let the poor fools continue to think that stochastics are overbought/oversold indicators. If I were you, I'd ask the moderator to remove that post before too many people see it!!!
stochastic is not a perfect indicator, because there is no perfect indicator. Personally I find stochastic usefull when it agrees with another oscillator like MACD, however both can be useless if there is a strong trend.
I find it strange that you use one oscillator to confirm another oscillator, that's hardly a good way to get any new information that the first oscillator does not already contain. As for a strong trend they are useful too, you just need to know how to use them. In fact, they can even tell you that you have a strong trend and then using them you can pinpoint pullbacks for entering the trend.
Jack, I asked if you could post a chart of a day in ES with your "fast pace" stochastic trades. You keep saying that "fast pace" style is the simplest one and one that people should start with.. OK, so teach us the fast pace trading with stochastic. Everyday post a 5min ES chart, with fast pace stochastics trades clearly marked on it. If you do that even for a week or two, people might start getting it. Otherwise doing posts, here and there without illustrating charts is not gonna be very useful to those who'd like to learn. So I propose this... you start a thread on Fast Pace Stochastic trading, and post charts in the manner I described. If the stuff works, in year we'll all have made 90-whatever-K and we'll all be very thankful to you.
You can find out a lot about Jack Hersheys methods here, the site was set up by Don Cameron who used to be a regular poster on this site some time back, Don is suffering from a serious illness if he is reading this I wish you all the best Don. http://groups.msn.com/ShortTermStockTrading/messageboard.msnw?pgmarket=en-us