Your drivel is utter bullshit. In fact, after reading that senseless verbal rant of yours, you come across as being very angry. Could it be your hopes and dreams of eventually leaving your day job and moving out of your motherâs basement are based on a book you read explaining how to make money with squiggly lines on a chart? Nonetheless, I present my sincere apologies for having rained on your parade, and as a gift to you, I present you with the following: http://www.hopesanddreamsfoundation.org/ I do note however, you praise the worth of point and figure in another thread, even pointing out that it works! You do realize that P&F is nothing but price; no time periods, no volume, and NO squiggly lines. Nothing but pure price action. Ooops!!!!! st
Holygrail already explained why experienced traders would choose not to use indicators. Were you not paying attention?!! Please explain when it is not a bad thing. Ahem, trend lines actually lead price when extended into the future. st
The thread didn't get stochastics discussed to any extent by what was posted. There were a lot of myths stated as well. Anyone who is approaching learning to trade must deal with several important issues. There are many ways to make momey and there is a whole range of performance possibilities. Essentially, for success, a trader must make it his business to be able to display the market he is trading. You can imagine what ET would be like if those posting did show what they were looking at as they make their comments. There would be some great learning going on. A lot of people learning to trade behave as you do. Some never get beyond the phase that you are involved in. If you are able, consider three things that relate to trading successfully. A plan for learning. A plan for trading. A business plan for dealing with money. You have no learning plan which means you have no trading plan which means you have no business plan for dealing with money. Successful traders do not "learn to make money". Or to put it another way: "learn in order to make money". It was common and recuurent to see 39 steps to making money posted a while back. There has never been posted a series of three sets of steps for plans for learning, trading and the business of trading. It is difficult for anyone to be receptive to advice from anyone else. Being purposeful in this day and age is difficult probably because the world operates on "instantaneous". Most of the posting on ET is brainless and "instantaneous" run on copy that is like cocktail conversation. Everyone is talking and no one is listening. You started a thread and you didn't "get it" that you do not understand much of anything. For everyone, whether they like it or not, they are always building their minds. They are adding to their minds all of the time and little of what they build will ever leave them. Working purposefully is the only way. Experimenting and inventing in an unorganized and hit or miss manner is more than a waste of time and money; it is personally, destructive. A page of notes can become a file folder with pages of notes. Folders can be put in accordian files and accordian files can be put in file drawers and file drawers can be put along walls in rows. So you OP'ed a thread and it became a mess. Now there is a possibility that someone, in the future will come upon this thread and make decisions as a consequence. Why don't you get to work and get the job done?
The part of the trend line that is not extended into the future "lags" price. A good use of lag is the part of trend line that is not extended into the future. The "lagging" part of the trend line is the most important. Without that, you would have no basis to "extend" the trendline into the future. But according to Holygrail, nothing "leads" price. Not even momentum He would probably also reject your statement that an extended trend line "leads" price.
Trendlines lag price by their very definition and construction ... thanks for pointing that out Goinglite, otherwise st wouldn't have know ... LOL this thread, ET is better entertainment than TV, Radio and live performance combined.
If you honestly believe momentum leads price, I definitely have a bridge to sell you. What are your momentum settings? How many bars?
Seems to me there are some participants of this thread that may want to look up the definition of "lag" and "momentum", I don't think they know what they mean.
Ok, so let's think about this logically OK? Let's say your momentum signal is based on 7 bars. Momentum is typically calculated close/(close of 7bars ago) * 100 Basically momentum is nothing but a moving average of the difference of price on each bar. Now if I am looking at nothing but price, can I not see the difference in price? Do you think moving averages are forward looking? You would have to if you think momentum is forward looking.
1. Describe to me how trendlines are drawn. 2. Give me a definition of momentum, any will do. 3. Do you actually trade based on any of this stuff, or do you just come here and make comments? ...