Hi, I am a newbie here and am reading up on oscillators and how to use them to trade with the market. I am not a day trader and am looking to get in and out of trades in the weeks/months time-frame. I read in the book by Marcel Link that it is good to look at oscillators and trends over multiple time frames to confirm them. I am not sure how to select the interval of the charts. Let us suppose I want to look at 1-day, 10-day, 1-month, and 6-month charts. How do I select the intervals for each of these charts. Should I use the same indicators for looking at trends using EMA/SMA lines too. Also, are any other charts that the experts here think I should look at. Thanks
Welcome to EliteTrader. Your questions are basically what all traders ask, who havent found their edges. You must find it out on your own. Backtest everything you can imagine and build up statistics, maybe in the end you will see the light. This is a lot of work and it is not easy, but trading is the only business i know, where you can do the work before you go to act. Means, once you have created perfect money making strategies, you can trade and take the results (Money), every trade by trade. The work is not the trading itself, but it is the preparation and creation process, before you are ready to trade. Look at http://www.investopedia.com/university/indicator_oscillator/#axzz1mjN1uu9F http://www.investopedia.com/university/tradingsystems/#axzz1mjN1uu9F , maybe it helps you. Dont read about indicators, test them, with all possible parameters on all timeframes. Trading is not for lazy people. Or what do you thought, why you can make so much money with it, and only a few are really doing it. You must be better than the rest. There is no other way. Do it right or let it be. Good luck