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Stochastics - my friend
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Stochastics - my friend

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Stochastics - my friend

Relying upon the slow Stochastic as a secondary indicator.

Everyone gets so complicated on this board.

Any comments as to trader's usage of the slow stochastic.

Seems to be five major secondary indicators that evaluate overbought/ oversold.

Stochastics - seem to work
MACD - read that they are outdated now
RSI
William % R
Momentum

For myself, I think placing more importance in the Stochastics is important. I am trying to figure out momentum, not as easily done.

Any comments as to other traders reliance upon secondary indicators, what they have found useful for themselves.

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Let me reorder your post:


e4williams View Post
I am trying to figure out momentum, not as easily done.


e4williams View Post
I think placing more importance in the Stochastics is important.


e4williams View Post
Relying upon the slow Stochastic as a secondary indicator.

The above basically epitomizes why most traders fail.


e4williams View Post
Everyone gets so complicated on this board.

It's true, a lot of people on the forum have some very complex looking charts. In many cases, I don't agree with those charts or the interpretation that many users come away with. This is primarily due to most of them trading extremely tiny time frames, in my opinion.

There is middle ground. Somewhere between using a stochastic or "secondary indicators" which is on the completely naive side of the spectrum, and on the overly complex side with glowing charts with a million lines on them.

Based on your prior posts it seems to me you are likely an older gentlemen that is extremely set in his ways. Fine, there is no argument from me about that -- it's nature. However, it's also largely in direct conflict with learning the skills to be a successful trader.

You'll have to decide what your goal in the market is. If the goal is to have a hobby, then more power to you and have fun while you are at it. However, if the goal is to make money, then you need to basically throw out whatever you are looking at today, and start educating yourself. There are 200 webinars on futures.io (formerly BMT) and countless good threads loaded with information. I'm willing to bet you are unwilling to spend the time to watch/read that material, which again is totally fine, just make sure you've set proper expectations that trading is only a hobby for you to past the time.

Mike

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