I once took a seminar where the only strategy discussed was the following: 1. Scan for stocks that are in an uptrend (as defined by weekly MACDDiff > 0) 2. Scan (with in positive results for uptrend) for stocks where daily stochastics is < 30 but rising 3. Buy if the stock trades above previous days high (but not gap up). Then there were some sell rules, based completely on price action.
stochastics are a very good tool when you are trading an uptrend which breakouts out on previous highs, a downtrend which breaksdown out of previous lows, and range days where price action bounces off of (support and goes higher/resistance and goes lower) ... iow, all the time, provided you know some basic definitions of market price action ... which you can find anywhere in a free seminar, LOL. See ya.
Hey silvermotion We all know you removed your charts because stealth trader was being (actually, is) a complete asshole, but thanks for sharing the information with the the 20 of us that saw the charts when you put them up. Good trading (again)
my pleasure mandel i honestly don't understand what is stealth trader problem. A trader making money isn't usually annoying like that.
Top of the morning, girls! It seems your inability to answer a simple question now has you both seeking comfort from each other. How sweet. Others have answered the question in good fashion, both pro and con. Yet the best the two of you can come up with is name calling and the old tried and true classic ET paper trader mindset non-sequential replies. Being you both choose to cling to proven unworkable beliefs than engage in statistical reality, your constant state of confusion is understandable. Silver, you may want to be careful who you saddle up with in the future. Little jimmy is ETâs ass clown who contributes nothing but rote rhetoric; all noise- no substance. I commend you for actually posting an original thought; too bad you were not able to back it up and chose the path you did. Little jimmy, please continue jumping from thread to thread flip-flopping to whatever the flavor of the day is, and also posting charts of other peoples ideas and pretending you have a clue. The comedy value is priceless. Hope you two have a great trading day, and please, do watch out for those paper cuts! st
You know, I believe the great professor said something similar about you just a few days ago! Apparently whatâs good for the goose isnât good for the gander. That speaks volumes about your character, or lack of. Enough said. st
I was being a wise guy, based on all the name-calling. Sometimes it's a little uncomfortable reading all these posts. I only trade part-time, with time during the day to post. I have noticed, during busy market-hours, or news events, etc., that certain veteran posters are nowhere to be found. Perhaps they are busy at their screens? Just an observation, but sometimes this forum is akin to reading the Enquirer as opposed to Barrons, or whatever your favorite rag-vs-real paper analogy may be.
Stochs should be used in pairs. pick a longer stoch, and then a stocs that is 40% shorter than your longer stoch. What you will find is that the shorter stoch will break 50 while price is still ranging. Use price action at this point to gain your entry. If you really want to confirm trend, let the longer stoch break 75-80, and watch for a pullback of the shorter stoch. Let it either approach the 50 and reject it, or let it fall below 20 and cross back over 50. Study some charts, it will help. Best Regards Oddi