Which two indicators would you use?

[sreenathc]

Volume and time (as well as price obviously). Do yourself a big favour and throw the rest out.:horse:

How do you use volume & time....when I look at the charts in CommSec professional trader, the volume charts don't seem to show much (I must be reading them wrong!).....can you please elaborate a little bit?

Thanks,
Sreenath

 

[apra143]

If you de-emphasize the prediction part of your system (thus giving up your need to be in control and to be right), and concentrate on exits and position sizing, you should do quite well.

Any guess where the above is from

Focusing on trying to be right about the next move should be a minor concern apparently. Dunno how well it works in practice.

 

[beaul]

Can you give me a recommendation for a volume based indicator.
or a volume /time based indicator

 

[Trembling Hand]

Can you give me a recommendation ...............

....or a volume/time based indicator

Yes get a Massive volume of charts and see what info you can learn from them

&

Spend a Massive amount of time studying what context resulted in that info you learnt.

There's the only volume/time indicator that I can recommend.

 

[beaul]

thank you for your help

 

[Trembling Hand]

thank you for your help

No problems. Its not the shortcut to riches that you were after. But that is why this game is so good.

It rewards hard work, testing & time, thous that skip these steps pay for the fortunes that the few that don't accumulate.


So thanks to all the short-cutters for their help : :grinsking

 

[tech/a]

No problems. Its not the shortcut to riches that you were after. But that is why this game is so good.

It rewards hard work, testing & time, thous that skip these steps pay for the fortunes that the few that don't accumulate.


So thanks to all the short-cutters for their help : :grinsking

Dont know about that.

Its the outlier moves or Black Swans which contain both the potential for life changing rags to riches stories--as well as the reverse.

Nassim Taleb 's book of the same name is a great read.
http://en.wikipedia.org/wiki/Black_swan_theory

Sure the age old and proven tested methodologies returning positve expectancy will generate consistent profit (Until conditions fall well outside your tested data set)---but true life changing profit comes from outliers.
In Trading
Property
Business.

Focusing on trying to be right about the next move should be a minor concern apparently. Dunno how well it works in practice.

Placing yourself in "anticipation" of a move does work well as does taking yourself out of a position when the move either doesnt eventuate or is proven wrong.

 

[Trembling Hand]

Dont know about that.

Its the outlier moves or Black Swans which contain both the potential for life changing rags to riches stories--as well as the reverse.

Nassim Taleb 's book of the same name is a great read.
http://en.wikipedia.org/wiki/Black_swan_theory

Sure the age old and proven tested methodologies returning positve expectancy will generate consistent profit (Until conditions fall well outside your tested data set)---but true life changing profit comes from outliers.
In Trading
Property
Business.



Placing yourself in "anticipation" of a move does work well as does taking yourself out of a position when the move either doesnt eventuate or is proven wrong.

Oh please don't be such a muppet. Are you saying that "Placing yourself in anticipation of a move" requires what? A post on a forum asking every other get rich quicker what indicator do I use??

Or setting up a Business in anticipating of a life changing trend requires just opening the door in the morning? free from any commitment to actually doing the work?

 

[Trembling Hand]

Placing yourself in "anticipation" of a move does work well as does taking yourself out of a position when the move either doesnt eventuate or is proven wrong.

And just on that Tech how much time have you spent in your pursuit of the outliers?

In the anticipation and the ability to recognise change?

My guess your whole working adult life.

 

[nomore4s]

Dont know about that.

Its the outlier moves or Black Swans which contain both the potential for life changing rags to riches stories--as well as the reverse.

But the ones who regularly catch the outliers have normally done the hard work to put themselves in a position to make the most of the opportunities that come along.

Sure there is luck involved and sometimes a novice gets lucky but the majority of the time it is the people who have put in the hard work and have taken the risks that are rewarded.

 

[Boggo]

Can you give me a recommendation for a volume based indicator.
or a volume /time based indicator

Hi beaul.
In an attempt to give you a very basic indication of one potential direction to pursue in your quest I have attached below a simple setup that helps show me possible turning points if I am long or short.

The two below are actual examples (one short and one long) that gave me a heads up that a reversal may be possible = time to tighten stops

I use Metastock for this stuff and I have set up the 'Expert Advisor' to change the colour of the bars when this simple formula goes above 85 or below 25, green for "oversold" and yellow for "overbought"
Mov(RSI(9),5,S)

When the bar changes I simply look for a possible reversal of the position of the 3 day volume ema
Mov(OBV(),3,E)

If that is at or near an extreme and shows signs of reversing then I tighten up my stops.

The two opposite examples below, click either to expand.

 

[beaul]

Trembling Hand,
If you don't want to help people why don't you just say so.

 

[Boggo]

Trembling Hand,
If you don't want to help people why don't you just say so.

beaul, unfortunately for every person who tries to help you there will also be others who like to disrupt them, recognise them and ignore them.
Not sure why they even bother to comment really.

Example of a 'necessary' comment on a beginners thread

Oh please don't be such a muppet

 

[Trembling Hand]

Trembling Hand,
If you don't want to help people why don't you just say so.

Oh sorry OBV(On balance Volume) is what you need. Works every time. (helpful???)

By the way. After you get swallowed up and spat out following all the back-fitted examples of indicators & TA & whatever is the latest best thing come back and tell me I'm full of **** and my post at #24 was not in hindsight helpful.

 

[Timmy]

Trembling Hand,
If you don't want to help people why don't you just say so.

Trembling Hand is one of the most helpful posters on ASF, IMO.
And he brings out the best in other helpful posters too.

 

[Trembling Hand]

beaul, unfortunately for every person who tries to help you there will also be others who like to disrupt them, recognise them and ignore them.
Not sure why they even bother to comment really.

Example of a 'necessary' comment on a beginners thread

Oh please Boggo you have to be kidding. You have never posted a chart of a lossing trade!! How helpful is that??

Beginners love to be feed BS but sorry mate it doesn't help them. And you know very well that that Muppet comment is actually Techs response to EVERYONE and thats why I used it.

 

[tech/a]

Will reply later

 

[Boggo]

Oh please Boggo you have to be kidding. You have never posted a chart of a lossing trade!! How helpful is that??

Beginners love to be feed BS but sorry mate it doesn't help them. And you know very well that that Muppet comment is actually Techs response to EVERYONE and thats why I used it.

TH, I don't need to post my winning or losing trades,my system is there on both of those charts for all to see, green arrow is buy, red line is stop.

Your post #24 is excellent but then you ruin any credibility by having a go at tech/a.
Why don't you just send tech/a a pm when you get the urge to have a go at him rather effen up a thread where someone who has just joined this month is asking a simple question.

 

[Trembling Hand]

Your post #24 is excellent but then you ruin any credibility by having a go at tech/a.

Gee then Tech/a must have no credibility exactly matching mine. Cuz his the one who uses that comment like I said to everyone, both new and old posters.

 

[nunthewiser]

TH, I don't need to post my winning or losing trades,my system is there on both of those charts for all to see, green arrow is buy, red line is stop.

.

But your system examples posted is all in HINDSIGHT m8 .made to fit AFTER the fact......... i have mentioned this previously so will not question the merits or ask how this method of posting actually benefits anyone that trades in realtime.

Just my 2 cents not intending to create any angst or badwill.