| StockFetcher Forums · General Discussion · Niko: | << 1 2 3 >>Post Follow-up |
| karennma 8,057 posts msg #52989 - Ignore karennma |
7/11/2007 2:13:34 PM How many computer screens do you work from? |
| nikoschopen 2,824 posts msg #52991 - Ignore nikoschopen |
7/11/2007 2:47:39 PM Have you forgotten that I possess the holygrail? One monitor is as good as many. ;) Let me just say that more is not necessarily better. It's usually a sign of bad gone worse, which I learned the hard way as a noob eons ago. |
| karennma 8,057 posts msg #52992 - Ignore karennma |
7/11/2007 5:23:02 PM roflmao!! I forgot. If you've got the holygrail, you only need ONE computer! LOL! |
| nikoschopen 2,824 posts msg #53004 - Ignore nikoschopen |
7/11/2007 10:10:08 PM Since everyone is so bent on having their holygrail, allow me to share one that I recently stumbled upon. It's called "RSI band" (although I think "Rainbow" is more suitable), made up of RSI(2), RSI(5), RSI(10), RSI(20). No elaborate explanation is required on how it must be used, but just by going long whenever the RSI(2) crossed above the RSI(20) you would have made a killing on AAPL. Just for the record, I ain't no RSI enthusiast and don't plan to become one but it does have its usefulness as you can amply see on the chart. |
| nikoschopen 2,824 posts msg #53005 - Ignore nikoschopen modified |
7/11/2007 10:38:00 PM For the noobs who might otherwise can't curb their great enthusiasm to trade this holygrail, I should like to make a minor clarification. It ain't just the crossover that makes this setup powerful, but the way in which the 4 lines that make up the "RSI Band" is situated. Up until now, you were told to wait until the RSI(2) is below one or in the oversold zone. On the contrary, with the RSI Band, it's preferable to see those 4 lines appear in the overbought zone. Here's the RSI Band applied to our beloved CROX (yeah, I'm completely out. LOL) |
| nikoschopen 2,824 posts msg #53006 - Ignore nikoschopen |
7/11/2007 10:43:43 PM I ain't no braggadocio myself, but this is purely my own invention and I would be hard pressed to find it or spoken by those at TradingMarkets.com or other similar outfits. Please give credit where it's due. Thanks. |
| fokane 74 posts msg #53016 - Ignore fokane |
7/12/2007 7:34:55 AM Niko,Karen, and everyone, do you trade full time? I trade part-time but I'm wondering if anyone gave up their day job to trade full-time? |
| karennma 8,057 posts msg #53019 - Ignore karennma |
7/12/2007 9:27:12 AM Fokane: Many years ago, I HAD to give up my "day job" to trade, not because I was exceptional at trading, but because "jobs" are simply unsuited to my personality. I NEVER enjoyed the corporate world or what's referred to as the "corporate culture". After much soul-searching, it eventually became self-evident that trading the markets was the only thing that would sustain me, given the type of person I am. At this point, I do have one regret: I wish I were smarter. IMHO, trading is not for dummies. In spite of all the reading I've done, and all the seminars I've attended, I've made a lot of dumb mistakes. Ever heard the saying: "insanity is making the same mistakes over and over again and expecting a different result"? It's taken me years of mistakes to learn "how not to trade". LOL! My point is, if you've got a family and a mortgage, ... don't quit your day job unless you KNOW what you're doing. Or here's what I did: work at night, and trade during the day. Then, when you have a handle on what you're doing, you can do this "full-time". BTW ... this IS a "part-time" job for me. I don't sit at my computer "all day". I can't .. my attention span is too short. Plus it's bad for my health. Good luck to ya'! :>) |
| nikoschopen 2,824 posts msg #53021 - Ignore nikoschopen |
7/12/2007 11:31:33 AM fokane, In a time of euphoria like now, ure prone to get sucked into thinking easy money could be made. But, trust me, it isn't. Like Karen said, don't give up ure day job if you have a full-time commitment. As for me, I'm a day trader, which means my ass is glued to the computer monitor while the market is open. Karen, I'm a proud member of the Idiots Anonymous myself. ;) |
| petrolpeter 439 posts msg #53028 - Ignore petrolpeter |
7/12/2007 12:30:11 PM Thanks for the nice image Niko.RSI bands follow price closely and those are always best.Would you do me the kind favor of putting up a 5 min. with my intra-day indicators:PPOh(3,6,6),CCIh(6,6),and WTSI(6,3,3)Heikin-Ashi.Reversals cross at zero. |
| StockFetcher Forums · General Discussion · Niko: | << 1 2 3 >>Post Follow-up |