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RCG Trader
Registered: Dec 2009
Posts: 10333 |
05-05-12 04:27 AM
Quote from esby06:
Hello traders. I been trading options, buying calls and puts nothing fancy, holding them max for a week or less. I been straggling with my entry points, and im looking for some kind of oscillator or something to give me confirmation on my entries. Can someone please recommend me anything you been using with success that works?
thank you very much in advance
Sorry OP, I try to be constructive between my snide remarks. Ditch the indicators. If prices has moved in your favor, that is your confirmation.
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logic_man
Registered: Oct 2010
Posts: 1489 |
05-05-12 01:54 PM
Quote from babutime:
Wow, witty! Now how about you go ahead and exude the insanely awesome online debating skills you've amassed over the years- particularly the type that attempts to start a conversation with another lame sarcasm.
"Exceptions to the rule" ? really? I wonder what the rules are. Pray tell.
I was hinting at you when I mentioned the mocking part. It was to the rest. As for the naivety of the question, yes, precisely because buddy's naive is why he's asking a question. If he knew the answers, he wouldn't ask.
Anyone who attempts to deride someone who dares ask a question without following up with something helpful should check themselves first. Their inflated ego probably doesn't correlate well with their bank balance or their IQ.
No kidding if he knew the answer, he wouldn't ask the question. The problem is that he didn't know how to ask the question in a way that was conducive to getting a good answer. Can you see the difference?
When you said you were a "newbie", I thought you only meant at trading, not at life.
The rule, my naive internet interlocutor, is that people primarily act in their own self-interest. A subset of that rule is that people will mock those they perceive as weak for sport.
Again, I didn't mock the original question, I only pointed out why I thought others were, based on my experience.
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flipside21
Registered: May 2011
Posts: 400 |
05-05-12 03:45 PM
Oscillator down to 5% level. Decision = buy. Market continues lower. Oscillator down to 3% level. Decision = buy more. Market goes down even more. Oscillator down to 1% level = buy yet more. Now market really tanks and equity is wiped out.
Oscillator to 95% level. Decision = short. Market continues higher. Oscillator to 98% level. Decision = short more. Market melts up yet higher. Oscillator to 99.9% level. Decision = short the fcuk out of the market. Market goes limit up and all equity is wiped out.
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KINGOFSHORTS
Registered: Sep 2007
Posts: 3554 |
05-06-12 02:20 AM
Quote from esby06:
Hello traders. I been trading options, buying calls and puts nothing fancy, holding them max for a week or less. I been straggling with my entry points, and im looking for some kind of oscillator or something to give me confirmation on my entries. Can someone please recommend me anything you been using with success that works?
thank you very much in advance
http://www.tek.com/oscilloscope/dpo-dsa-mso70000
They make some pretty good ones, but they are pricey. The DSA73304D will pretty much cover all needs.
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TskTsk
Registered: Dec 2011
Posts: 343 |
05-07-12 04:53 AM
Not all oscillators and technical indicators are useless, some of them are helpful as long as you know their limitations. The general rule for oscillators is they work well in a ranging market, but not in a trending market. Only problem is to know when the range ends and the trend starts.
IMO in todays markets you'll get further with statistics and math than with the traditional technical indicators like MACD, RSI and so on. Read up on books by Hull, Natenberg and Taleb, you will get a long, LONG way with reading the books they have written.
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SteveNYC
Registered: Jul 2010
Posts: 787 |
05-07-12 07:42 AM
Quote from TskTsk:
Not all oscillators and technical indicators are useless, some of them are helpful as long as you know their limitations. The general rule for oscillators is they work well in a ranging market, but not in a trending market. Only problem is to know when the range ends and the trend starts.
IMO in todays markets you'll get further with statistics and math than with the traditional technical indicators like MACD, RSI and so on. Read up on books by Hull, Natenberg and Taleb, you will get a long, LONG way with reading the books they have written.
Statistics! Lol. Books! Lol.
What da hell are these things?!
Should I use them to trade equities?
Someone please tell me.
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