The Most Valuable Technical Tools for Discretionary Traders

Discussion in 'Technical Analysis' started by cpo, Sep 26, 2002.

  1. After muddying the brain with every over-complicated indicator known to man and a few dolphins, I have regressed. I've learned that all I need to trade is one moving average and an unorthodox entry and exit method. But you'll notice I said "I"...not "you" in the above sentence. Everyone is different.

    LizardGizzard
     
    #11     Sep 27, 2002
  2. dbphoenix

    dbphoenix

    RSI and stochastics are oscillators.

    Incidentally, there's no particularly good reason to use more than one indicator for the same thing, e.g., MACD/ADX, and RSI/stochastic. It just gives you more to look at and doesn't provide any additional information.

    --Db
     
    #12     Sep 27, 2002
  3. cpo

    cpo Guest

    "A Trend Remains Intact Until It Gives a Definite Reversal Signal

    An up-trend is defined by a series of higher-highs and higher-lows. In order for an up-trend to reverse, prices must have at least one lower high and one lower low (the reverse is true of a downtrend)."

    (Dow Theory by)
    Steve B. Achelis


    "Trade with the TICK not against it. Don't be a hero. Go with the money flow.

    Buy the first pullback from a new high. Sell the first pullback from a new low. There's always a crowd that missed the first boat.

    Trade with the TICK not against it. Don't be a hero. Go with the money flow.

    Trends never turn on a dime. Reversals build slowly. The first sharp dip always finds buyers and the first sharp rise always finds sellers.
    "

    Alan S. Farley

    Do you know of any "gems" of trading? Feel free to post them here.

    cpo
     
    #13     Sep 28, 2002
  4. meant price osc. that lays over the security.............
     
    #14     Oct 1, 2002
  5. alain

    alain

    When i read your list it somehow reminds me to the book I read many years ago which was written by J.Murphy on TA. As I remember he does exactly cover those points. :cool:
     
    #15     Oct 1, 2002
  6. Tech tools more or less in order


    [1]Discretion + bid price with candlecharts.:cool:

    [2]Discretion + moving averages like 20, 50, 200 and smaller ones .:). [different colors]

    [3] Basic math observations over the years.[stocks I trade]

    [4] Printed chart book [watch list, years of winners,losers].
    -------------------------------
    Goal [Includes] ''To own a home free and clear and to avoid bank loans in general''- Roy Cahnman - Aardvark Trading
     
    #16     Oct 2, 2002
  7. TAguru5

    TAguru5

    Support & resistance.
     
    #17     Oct 2, 2002
  8. cpo

    cpo Guest

    Murray:

    You might want to visit these threads: http://www.elitetrader.com/vb/showthread.php?s=&threadid=9344; and

    http://www.elitetrader.com/vb/showthread.php?s=&threadid=9347

    With good wishes in your quest for self knowledge.

    cpo
     
    #18     Oct 3, 2002