I trade futures using a mechanical, pure-TA approach. One of my most profitable systems only uses two technical analysis functions True Range (as defined by J. Welles Wilder) Exponentially smoothed moving average However I deploy them and combine them in slightly offbeat ways, including functions-of-functions such as f( g( h(x) ) ). Whether this is the same as "indicators", is a matter of opinion. A few of this system's current positions: Long Australian Share Price Index (entered 01 Sept 2003) Long EuroSTOXX (entered 07 Jan 2004) Long Platinum (entered 02 April 2002) Long CME Nikkei (entered 18 August 2003) Short Eurodollars (entered 28 December 2004) Short Rapeseed-Canola (entered 23 July 2004) Short Two Year Notes (entered 14 March 2005)
Sheesh... 90% of the guys in here don't make money and just rephrase what's been said by others like it's something they realized. My advice to a newbie is to start following other sentiments of the market like TICK, TRIN, ADV, DEC, UNCH, PREM... ES, NQ, TY futures, Cash Dow, SP, NASDAQ index.... Follow these sentiments along with the stocks you trade and try to see relating patterns between them. Also, follow equities of large companies. Observe how they move together. Understanding the dynamics and relationship of different markets are more significant to trading than technical analysis.
Tricks??? It's the first thing they teach you in an equity prop. firm. At least when I started daytrading like... 6-7 years ago.... ??? Do they teach anything in props these days???
since you are the expert, would you mind saying a few words about your track record and the amount of capital it's based on?
Bwahahaha... OK... How about you post your phone and address and I'll fax and mail a copy of my records?
deks22, First of all welcome to ET. You will find the quality of information here to be rather helpful. Spend the weekend researching the archives and printing the gems hidden in the sands and sands of time. As far as your response in this thread....don't spend another minute here. When you find something, work with it, and make some comments if you find out something. You have found YOUR holy grail that works for YOU. This will change you entire perspective when dealing with rejection, as you know you have something that works and nobody can take it away from you. There are varying degrees of traders in ET...some have an edge that gives them the confidence that I speak of, others come here for entertainment. Then there are those like you coming here with an honest heart only to get sidetracked. Good trading to You deks22...hope this helps. Michael B.
tsganngalt Advice to follow relationships is misguided advice. The other misguided advice is to put such advice ahead of proper TA. Both tidbits are misleading in how mkts work. TA is a synopsis of all the opinions registered within the mkt itself. Actions indeed speak louder than words. (we will not even include ramblings from CNBC as spoken words, most are either ads or ramblings to appease advertisers). Relationships between different mkts and any corroborating movements among/against such instruments are possibly more so related from fundamentals rather than from TA. Sure TA can be skewed from bogus fundamentals also, BUT, the mkts are what they are and all opinions are reflected within the TA analysis. Most persons that follow fundamentals indeed might first check TA to confirm/deny their own educated/non educated readings of the fundamentals. To say TA is NOT the most valuable tool is again misguided. The only real fundamental opinion available to the avg investor is PRICE. TA takes that piece of most valuable opinion and shows Joe Sixpack where the support/resist, tops/bottoms, consolidations, continuations, reversals etc, etc occur. What else can an trader/investor ask for? What else can said person expect in a game of probabilities? Common sense is the answer, not some mish mosh about relationships. If a person really wants to know about relationships, they should get a girlfriend/boyfriend. tsganngalt surely means well, but he somehow got confused. i hope this helps. Thanks and have good trading for all, especially me. Bye, Bye as John McLaughlin would say. :eek: