Williams %R

Discussion in 'Technical Analysis' started by Pekelo, Feb 28, 2006.

  1. My guess is that, to the extent that there may be consistently profitable traders who actually use "indicators," their success is more a function of the other elements of their trading strategy rather than the indicators themselves. I'm guessing that the indicators serve as rather blunt filtering instruments and/or crutches/security blankets that could probably be done away with on careful reflection without materially degrading the trading strategy. Bottom line, I'm guessing that the indicator adds little if any value to a successful trading strategy. Therefore, I'm further guessing that people who rely solely on indicators with no additional "value added" on their part, are probably not profitable.

    P.S. Hypostomus, thanks for the heads up on the Camel filters.
    :D
     
    #41     Mar 1, 2006
  2. You're a sketch!!!
     
    #42     Mar 1, 2006
  3. Pekelo

    Pekelo

    After 4 signals, it is up 25 points. Coinsidered that it was in a rally when it doesn't work, that ain't bad...
     
    #43     Mar 1, 2006
  4. Pekelo

    Pekelo

    7 signals, only one loser, 50+ points. Very nice, indeed, I guess I have to buy the beer tonight...

    I think you guys overanalyze the thingy. Just start to use it and if it works, buy the beer, if it doesn't, buy the beer anyway... :)

    Edit: And a last, 8. signal giving a 15 points drop. Thank you Mr. Williams, wherever you are....
     
    #44     Mar 1, 2006
  5. Fine. Rather than talk about it, just trade it using real money and then kindly report back to us in this thread with your actual, live trade results. That should be more convincing than merely displaying charts and hypothetical trades.
     
    #45     Mar 1, 2006
  6. cakulev

    cakulev

    #46     Mar 1, 2006
  7. Pekelo

    Pekelo

    All is well now, relax. Hey, when did I say I am going to make live calls here? I asked if anybody had experience with Williams, I got a bunch of mumbo-jumbo. I am actually preety good at testing theories and indicators.

    If I get this pissy reactions, I am just going to stop posting charts, and go to the chit-chat section for a little politics and not trading related bullshit...

    Actually, it humors me that all the mathgeniuses here are looking for the holy grails, evidence, backtesting ability, when it is right in front of them. I mean seriously, did you check the chart? Were those valid signals making money? Sure they were. You don't even need a fancy software for it, just have to visit a freesite, for Einstein's sake...

    Try it tomorrow. When it hits 100 short, when it hit zero go long. You will be making money.

    Oh, no charge for the idea... :)
     
    #47     Mar 1, 2006
  8. Pekelo:


    What are you looking for in terms of a target when entering these trades off the %R signal?

    thanks
     
    #48     Mar 1, 2006
  9. Well, eventually you'll learn that a guy like Thunderdog is just really the resident den mother. He's more concerned about being right than making money. And yes, you can learn some interesting stuff from Larry Williams; he has some creative ideas about intermarket trading.
     
    #49     Mar 1, 2006
  10. Blah blah blah, you guess this, you guess that.

    How about some hard data instead of mental masturbation?
     
    #50     Mar 1, 2006