Why are you calling Tony Oz Tarzan? That is not nice. I picked on alot of people, including you, but I never called Tony Oz names. I have respect for him as a person. I totally agree with you on the George Soros comment, though. I am not trying to be a trading God, in the least. I appreciate those kind words though. SE
Haleluya! you are back. I just sent you a PM. Yes, I do believe that I know what fast cash means. However I can't seem to find any data providers supplying this. Why is this not a valid question SE?
You've got a long while till you are anywhere even close. Nice goal though. Not sure how Baron would feel. Robert
WOW, Look at this. Tony Oz is pulling out of the competition. And everyone said Super_Ego would be the no show. Huh, this is odd.
SE, The question was, how come on your charts, you use stochastics? I mean I could never figure out exactly how they are calculated. I understand that they "show" oversold and overbought, but so do the RSI studies and the MACD studies as well as some others that I also don't use. I don't understand the differences, and I don't know which are more dependable. I was hoping that since you use stochastics you could explain all this to me. I can't seem to bring myself to use something I don't understand, although I see others do it all the time. But I figure you are too smart for that. Thanks for your help. RS7
SE, I'm not being sarcastic, but, are there any "gurus" that you do (or somewhat) respect? Are there any books (related to trading), that would be on your recommended reading list? Thanks
Some of this is from The Day Trader's Guide to Technical Analysis by Chris Lewis: The RSI oscillator smooths out price jumps which may distort simple momentum oscillators. RSI is also helpful in measuring things on a scale from 0 to 100. Regular momentum oscillators have no fixed scale. The key factor when using RSI is choosing the number of periods to use in calculating each point value. Essentially, the bigger the number you choose, the smoother the oscillator appears, and the fewer signals it gives. The smaller the number of periods chosen, the more senstiive the oscillator becomes and the more signals it gnerates. Correct interpretation of RSI is based on two things: 1) divergence of price action from oscillator trend and 2) the Dow principle of failure swings. I use RSI mostly as a secondary indicator because it is good for interpreting failure swings in the trend to determine trading signals. Stochastics on the other hand, help you visualize when a trend is running out of steam. With these indicators, we try to get a measure of how near to the top or bottom of the trading range the security closes for the time period we are looking at. I like the stochastic oscillator because it uses two lines instead of one. You can measure the strength of a move from the angles that the two lines cross each other to help gauge momentum. Just make sure that your oscillators don't have fast settings (such as 3 periods instead of 13 for %K and 8 for %D) or you will get too many buy and sell signals. Gann analysis and Elliot wave analysis are too complex to be of any use in day trading. In fact, they are so complicated that few people can ascertain whether they even have validity in trading securities. I can cover MACD later on. Super...oops I mean Goldenarm
Thank you. You have "Reggie-ized" (the straw that stirs the drink) these boards. For that, I am truly grateful. Regardless of your opinions, we all need some free speech, conflicting opinions and some laughter. If I could only figure out what you are getting at...