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They will handle smooth market conditions but sharp shifts in price will leave them sitting like a blind person trying to follow michael jordan.
There is only one answer I have found in foreign exchange. I have alluded to it here before. Price holding/penetrating key levels seen holding in prior hours causes the market to react. The initiators start it, and other large money follows over time. Learn to recognize it and performance will increase.
They will handle smooth market conditions but sharp shifts in price will leave them sitting like a blind person trying to follow michael jordan.
There is only one answer I have found in foreign exchange. I have alluded to it here before. Price holding/penetrating key levels seen holding in prior hours causes the market to react. The initiators start it, and other large money follows over time. Learn to recognize it and performance will increase.
This really is a matter of total market interest.
Any detail explanation about this? which oscillator? it's setting? pairs? timeframe? levels? etc?
They will handle smooth market conditions but sharp shifts in price will leave them sitting like a blind person trying to follow michael jordan.
There is only one answer I have found in foreign exchange. I have alluded to it here before. Price holding/penetrating key levels seen holding in prior hours causes the market to react. The initiators start it, and other large money follows over time. Learn to recognize it and performance will increase.
This really is a matter of total market interest.
You are right only about 50%..
If you use oscillators for overbought/over sold conditions your right, you will be fooled a lot as they can stay overbought or oversold for a lengthy bit of time. That is what made me stop using Stochastics..
HOWEVER..
If you use them to confirm divergence.. then you will undoubtably have one of the most powerfull indicators in your toolbox. Divergence will help you spot where the money is going to go before it goes there. Momentum precedes price!!
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Last edited by drgoodvibe; 08-21-2006 at 06:13 PM.
Without divulging my approach, I will say if you're going to use oscillators the DPO is a solid and logical tool that works as a strong compliment to high/low -pivot/fractal confirmation of momentum at those areas in my opinion.
The problem with the market this month has been this horrible sudden small move followed by pffffft for hours. Then on data completely wild swings.
Traders are left wondering if they should be following to the minute or projecting ranges, which end up holding temporarily, then the breakout doesnt hold.
August has been hard on every professional I've spoken with.
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