Posted by mstaples37 on 22nd of Feb 2021 at 04:09 pm
Please pardon the ignorant question, but I see, e.g., frequent
allusions to the 9 EMA, and I believe it was implied that the
standard Bollingers are using exponential, not simple, averages
(but wasn't sure). I'm picking some up through osmosis by
just watching the newsletters, but is there a video or guide
somewhere regarding how to set up one's charts and how/when to
watch for the various indicators and studies in different
environments or for different types of instruments?
One thing I remember reading in a trading book, and I
wholeheartedly agree with is. The guys who are always moving from
indicator to indicators, different settings, etc are typically the
ones who are not profitable. Again don't get me wrong, you have to
experiment with things to find what fits your style and
personality, however eventually you need to just go with something
and stick to it. Don't always change settings etc. Basically you
need to stick to the chart settings you are using for a long enough
period to get a feel for how the charts and indicators behave. You
sort of develop a 6th sense after a while. If you are changing
settings all the time, you never develop that 6th sense.
So on Bollinger Bonds, use the default 20, or if you like a
faster one like 10 or 15, whatever, stick with it and use long
enough so that you develop that sense
Posted by mstaples37 on 22nd of Feb 2021 at 06:39 pm
Thanks -- appreciate it. I just thought I heard Steve
mention the 20 EMA when referring to the Bollinger band in the
weekend newsletter. I'm trying to just set up some chart
settings that align with what you guys are doing and then to use
that consistently.
Please pardon the ignorant question,
Posted by mstaples37 on 22nd of Feb 2021 at 04:09 pm
Please pardon the ignorant question, but I see, e.g., frequent allusions to the 9 EMA, and I believe it was implied that the standard Bollingers are using exponential, not simple, averages (but wasn't sure). I'm picking some up through osmosis by just watching the newsletters, but is there a video or guide somewhere regarding how to set up one's charts and how/when to watch for the various indicators and studies in different environments or for different types of instruments?
I think that the most
Posted by foody518 on 22nd of Feb 2021 at 04:35 pm
I think that the most common/default setting you'll find for Bollinger bands is 20 day sma center line, 2 std devs.
Chart setup/general learning: I spent some time going through the Intro to Technical Analysis series under the Education tab of this website.
One thing I remember reading
Posted by matt on 22nd of Feb 2021 at 05:57 pm
One thing I remember reading in a trading book, and I wholeheartedly agree with is. The guys who are always moving from indicator to indicators, different settings, etc are typically the ones who are not profitable. Again don't get me wrong, you have to experiment with things to find what fits your style and personality, however eventually you need to just go with something and stick to it. Don't always change settings etc. Basically you need to stick to the chart settings you are using for a long enough period to get a feel for how the charts and indicators behave. You sort of develop a 6th sense after a while. If you are changing settings all the time, you never develop that 6th sense.
So on Bollinger Bonds, use the default 20, or if you like a faster one like 10 or 15, whatever, stick with it and use long enough so that you develop that sense
Thanks -- appreciate it. I
Posted by mstaples37 on 22nd of Feb 2021 at 06:39 pm
Thanks -- appreciate it. I just thought I heard Steve mention the 20 EMA when referring to the Bollinger band in the weekend newsletter. I'm trying to just set up some chart settings that align with what you guys are doing and then to use that consistently.
I generally just use the
Posted by matt on 22nd of Feb 2021 at 05:41 pm
I generally just use the default settings honestly