Discussion in 'Trading' started by exce26, Dec 18, 2001.
What is the best accurate double MA line set up for 1 min chart?
To use it as in & out signal....
Don't even bother about trying anything like this for NYSE trading!
don't even bother trying this for any market !
i have a friend that uses the 8ma and the 13ma on the 5 minuite chart to help time exits.. also, robert deel suggests the 7ema and 17ema on the 5 min to use for exit signals.. i have heard of people using dual ma's for entry but i dont know of anyone who uses that strategy..
Agree with above statements. It is not any way to try to trade anything.
MA's can be useful in timing entries and/or exits, but you should have other reasons for taking a trade (e.g. something that tells you a high probability of an extended move in a certain direction). Trading MA crossovers solely is a loser's game as you will always be lagging the market.
My 2 cents is that using a 1 min chart exposes the trader to too much noise. Try using a 3-min chart, compare it with a 1-min underneath and you may discover that the 3-min chart keeps you out of many headfakes and false moves.
The only thing bloody moving averages are good for is smoothing data, I find most indicators are useless.
Stochastic telling you a stock is overbought/oversold compared to recent volatility; you can see that by looking at the chart anyway I mean come on!!
When I was new to the market I used indictors but that was only because I didnât know how to read the chart.
Who is Robert Deel ?
robert deel is the author of "The Strategic Electronic Day Trader".. also has a trading school - www.tradingschool.com.. otherwise, i dont know much about him..
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