Great Scott - Brain Overload

If you don't know where to start, start here! Don't be afraid to ask questions.

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pedro01
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Great Scott - Brain Overload

Postby pedro01 » Thu Feb 12, 2009 8:46 am

All

I have never seen so much stuff on one site - in fact, I don't know where to start.

I am looking for something fairly simple in concept, although perhaps complex in implementation.

I need an indicator that will, with a reasonable degree of accuracy, tell me where the DOW Jones index is going.

This is for stock trading - basically going long on stocks when the DOW is set to rise (or is already rising) and short when the DOW is set to drop.

Now - this does not have to be reversals, retracements or continuations, I'm fairly open minded about how.

I currently have a breakout system that does a decent job of this but the signals are just once every 3 or 4 days.

What I would like is a few signals per day.

So - in terms of the huge amount of indicators on this site - is there anything that fits the bill ?

If not - I'll put my wellies on & wade through.

Many thanks in advance

Pete

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TheRumpledOne
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Postby TheRumpledOne » Thu Feb 12, 2009 4:45 pm

"I need an indicator that will, with a reasonable degree of accuracy, tell me where the DOW Jones index is going. "

We don't have a "crystal ball", sorry.

It's not about predicting.. it's about trading what you see in the moment.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

Please do NOT PM me with trading or coding questions, post them in a thread.

pedro01
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Postby pedro01 » Thu Feb 12, 2009 4:53 pm

LOL ! Is this pedants corner then ?

So there are no indicators here that give any signal or any indication of the probable direction/continuation of any financial instrument ?

Based on 'what you see in the moment' there is therefore no way to place a trade because the moment has already passed, right ?

Here was me presuming that when the _SMAA_MTC_TRADE said "Buy Long" that it was in anticipation of a rise in price.

Sorry for being such a fewl. :roll:

Next time I post, I shall be sure to use 1000 words instead of a few just in case a pedant jumps on me for requiring a gypsy with a long warty nose looking at some tea leaves.

I suspect my grammar will be scrutinised next... :D

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Postby koolbreeze » Fri Feb 13, 2009 6:36 am

Pedro01,

I don't want to be disrespectful, but you don't even know what you don't know.

I would have remained silent on your initial post out of kindness but your follow up remark was an insult to one of the most brilliant traders on the planet, the guy who wrote all these indicators.

pedro01
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Postby pedro01 » Fri Feb 13, 2009 1:59 pm

Jeez Koolbreeze, lighten up a little for heaven's sake.

You do not know me, nor do you know what I know.

From what I have seen on other forums TRO doesn't need his ass kissed & can take care of himself. This isn't a circle-jerk, it's a discussion forum.

We use indicators for one reason - that is to help us interpret price/time/volume data in such a way as to help us decide the probable future price action.

Perhaps you use them because they are pretty - if so, I wish you well.

Indicators can only tell us what happened but can tell us things about momentum etc that are not apparent by looking at a chart. Perhaps you can see rate of change on a chart but to be honest, I can't but it is a useful data point.

TRO is not writing indicators to tell us what happened with a view to us all saying "wow - that's pretty". The indicators serve the purpose of helping us make trading decisions. In fact, some of the TRO indicators clearly give buy & sell signals.

So - here I come as a newbie, simply asking which indicators would work best on a cash index - an index that cannot be traded (The DOW is not the futures, nor is it the ETF) and I get accused of requesting crystal balls. I suppose I'm a Holy Grail seeker too.

My post was sarcastic - TRO made some assumptions based on the fact that i am new to this forum. I have seen this on a hundred forums before now - people jumping on the newbie, presuming he just fell off the banana boat.

My sincerest apologies for daring to ask for an indicator that indicated something.

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Postby rrobin » Sat Feb 14, 2009 12:01 pm

"I currently have a breakout system that does a decent job of this but the signals are just once every 3 or 4 days"

Very interesting.

pedro01
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Postby pedro01 » Mon Feb 16, 2009 2:39 pm

It'd be more interesting if I didn't gave to wait 3 or 4 days for a trade....

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