frtaylor- regarding your question on SDS, on the
30 min SDS chart, the 89 period stochatics didn't cross above 20%
as you suggested, for the 30 min charts I use the 89 period.
for 60 min I use a 60 period.
remember the stochastics crossing 20% is used for a
confirmation, however the better trades/entries are via taking a
trade at resistance or support i.e. shorting the top of the channel
etc and then using the stochastics crossing as a confirmation to
stay in for a larger trade.
So far this month the money has been made by buying the bottom
of the channel and selling or shorting the top, which occurred once
again today. Eventually those stochastics will break and you
will get more of a trending trade, but for now they have yet to
break.
here's a 30 min SDS chart and 60 min SDS, as well as 15 and 30
min SPX charts.
Posted by frtaylor on 21st of Sep 2010 at 04:03 pm
Thanks - I am watching too many possible trades and getting a
little careless. So, 89 STO for the 30 min, not 60 STO. Again,
thanks for the trading lesson.
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frtaylor- regarding your question on
Posted by matt on 21st of Sep 2010 at 04:00 pm
frtaylor- regarding your question on SDS, on the 30 min SDS chart, the 89 period stochatics didn't cross above 20% as you suggested, for the 30 min charts I use the 89 period. for 60 min I use a 60 period.
remember the stochastics crossing 20% is used for a confirmation, however the better trades/entries are via taking a trade at resistance or support i.e. shorting the top of the channel etc and then using the stochastics crossing as a confirmation to stay in for a larger trade.
So far this month the money has been made by buying the bottom of the channel and selling or shorting the top, which occurred once again today. Eventually those stochastics will break and you will get more of a trending trade, but for now they have yet to break.
here's a 30 min SDS chart and 60 min SDS, as well as 15 and 30 min SPX charts.
Thanks - I am watching
Posted by frtaylor on 21st of Sep 2010 at 04:03 pm
Thanks - I am watching too many possible trades and getting a little careless. So, 89 STO for the 30 min, not 60 STO. Again, thanks for the trading lesson.