5pillars, Are you in the Investor R/T chatroom? If not, would you mind disclosing which chatroom? You can pm me if you feel that the mods might take offense. Or if you feel that you wish it to remain private, its cool too. I'm just trying to learn here, not trying to copy your calls Also, can I use True Strength Index as my ergodic or will it be different? My charting software only have True strength index and not ergodics. Thanks.
Yes, I will send you a pm as I am in a somewhat small chatroom run by a friend of mine who is my broker. We all share trade ideas with each other and keep everyone focused on several key indexes during the trade day. Your "true strength index" is an ergodic so everything should be the same.....I use 5 & 20 as my settings [ x 100] to get the number range shown in my chart examples.
It would be off topic to get into what I think my grail is, so I am not at liberty to say. But it is has nothing to do with technical analysis or any technical indicator. Actually, I think grail statements are unprovable by definition. What would be considered "difficult" to one may seem easy to another. Also, there is no objective threshold for the length of time required for a trading grail to "work" and there is always the possiblility it could fail miserably. I have never seen a trading grail proven yet though I would like to see it.
I have seen several trading grails in my life time, and the actual grail for someone is just a simple combination of methods with mentalities used to make consistently compounding profits. Sometimes these last 3 months and sometimes they last 3 years, but that period of time it seems as though all the stars are in alignment and everything works smooth for the most part. I use a combination of several systems to make up my daily grail and the combined result has created for me very consistant and compounding returns. I do not rely on any one system to extract my daily profit objectives, but I trade three separate methods at different times of each day to have a diversified approach to achieve my goal. A grail is not perfection either, it is using methods that can at least get the job done everyday to hit my daily objectives.....some days I go over my goal and some days I do not, but the combined daily affect has a result which is good enough for me to call it my grail.
as much as i like b1b2 the ocmment about rsi short and long is nincorrect if we are talking intraday eminis.........rsi is an oscillator...%r, macd, stoch, bb's, etc.......they all lock overbought oversold.............the ultimate system is one that doens't fail and fits all markets..and doesn't use trader input/discretion/gut.......only needs trader to push the buttons....they say it can't be done.......i say i am waiting for failure.......wait is getting longer and longer......if no failure then that is it........but will the few who possess it bring it to the public? of course not......being dumb is my lot in life...losing forever is not......the worm has turned and it can turn for you.....but grail talk is jousting with the windmills.....unless ur name is don quixote forget about it.....
spillars, i am not saying ther eis only one system for sure.....there are thousands probably.......for sure 100's.......that work very well......i cna't trade the short time frames for instance as my hypertension won' t allow.......lack of intelligence whatever......doesn't matter......your comments are great and glad to read it as it is seen as failiar for me was well