best moving average periods for day trading

4candles

Well-Known Member
#11
AJAY said:
basically the money making in markets depends more on psychological aspects. charts only give a clue. if you go biased, then any thing is useless, whether it is macd,ma or any other mechanism.

ajay
very true! very very true!!!

4candles
 
#12
amarnath said:
You mean trading with MACO systems always need discertionary aspects ??? can you define wat is trend in your terms
Well, if you think we are misguiding, why don't you describe in detail what you want to say about mechanical moving average crossover system, provide examples, charts, give few statistics etc and in the process guide a newbie. That would be more useful than just saying we all are misguiding.

--SwingTrader
 
#13
AJAY said:
i appreciate the views of swing trader. I have been in technical analysis since 1995. workerd with each and every indicator. developed my own indicators in metastock. i am a licenced user of metastock pro 8.0, advanced get, wave 59, falcon and iris. with all the experience what i realised is what swing trader said is right. the only missing part in communication is that it is applicable to hardcore chartists who track markets full time with charts.
the views of others are also respected.
basically the money making in markets depends more on psychological aspects. charts only give a clue. if you go biased, then any thing is useless, whether it is macd,ma or any other mechanism.
it is not that i don't respect the indicators. having worked days and nights on all types indicators what i understand is that experience it self removes the need to look for any indicator. hope swingtrader wnats to tell the same.
WHAT I APPEAL TO ALL THE TRADERS IS THAT THE TRADING PSYCHOLOGY IS MORE IMPORTANT. BE LIKE A REMORA. BE WITH THE SHARK, DON'T GO AGAINST HIM. DON'T EXPECT THE MARKETS TO DANCE AS PER OUR TUNES. WE HAVE TO CHANGE THE TUNE AS PER THE MARKET MOVES.
ajay
Absolutely, I agree. Thanks for pointing it out that ultimately a person's psychology is the most important factor in trading. One might have an excellent trading system but if one doesn't have the psychology to trade it properly it is of no use.

--SwingTrader
 
#14
Ajay,

Well said.

Glad to know that you are user of Advance Get. I am sure, many other members are also using the same software. Why don't we start the New Form/Thread where all the user of Advance Get can share their views.

I will request TRADERJI to start new thread/form for us as "ADVANCE GET"

Regards,

Wastej
 

AJAY

Active Member
#15
hi Wastej,

i welcome your proposal. we can do so. here i want to mention only one thing.advanced get is nothing but a mechanical trading system. the success behind the software is this reason only. in this context i can say anyone can have his/her rules set by themselves and follow, they will make money in the markets.
 

sudoku1

Well-Known Member
#16
EVEN IN INTRADAY IT DEPENDS on the timeframe used for trading....whether 5 minutes , 15 , 1/2 hourly or hourly:)
 

desifxtrader

Well-Known Member
#17
Hello friends,

I completely agree with swingtrader's views. Traders who has experience (atleast 10 yrs) and got lucky for the truth to dawn upon them would know this.

All Trading Indicators Are Lagging.

It seems pretty obvious that the more complicated we make trading, the harder it's going to be to make real money trading shares. For whatever the reason, people just don't seem to listen.

How else would that explain why statistically only 5% of traders make any money? If all these "magical" indicators and automated systems worked, why are there so many people crashing their accounts?

All these overpriced indicators provide absolutely NO insight to the market!!

So, why are people spending their hard earned money on all this garbage? It's simple. Most traders don't really have a clue what's going on in the market.

They would much rather just fill their charts with indicators telling them when and how to trade.

Why would you want to base your trading decisions off of something that is only telling you what has already happened.

I don't mean to come down hard on indicators. Truth be told that's exactly what I used when I first started trading.

Do you think that the most successful traders in the world are really worried about what a couple of Stochastic lines are doing? I highly doubt that.

The whole point is that they don't need them or any other indicator for that matter. Their own eyes are their best indicator.

If you don't believe me, all you have to do is look at the history of the markets and how traders became successful.

There were legendary floor traders at the beginning of the stock market who became millionaires just by following the movement of the price. They didn't even have charts, much less indicators!!! What's our excuse???

Refer:

http://www.traderji.com/beginners-g...-my-live-tread-nifty-option-9.html#post430050

http://www.traderji.com/forex/39166-vdo-no-need-using-technical-indicators.html

For startup trader, I'd recommend that you find the best combination of moving averages of short length such as 3/9 or 9/15 and check for yourself which one's working best BUT lay greater importance on the Price Action.

I'm sorry Mr. Amarnath, to be blunt in my response.

Yes you are wrong.

You peoples seems misguiding newbies a lot. Pls dont consider it as any sort of attack on any one here . Trading with 100 % Mech systems has been proved to be profitable well . In few replies here ppls suggest to find a MA cross over that fits to traders taste ? it implies indirectly that trading with MA need discertionary aspects to consider always which seems highly misguiding to ppls trying to find 100 % mech systems . Pls guide me if i am wrong in my observation.


Yes, it is. Trading with 100 % Mech systems has been proved to be profitable. I agree. But mechanical system doesn't necessarily need indicators. A mechanical system could be built without any indicator(s).

It is better to say you are not aware of it that saying there is no single system to follow with mech aspects . pls dont get misguided your self
Yes. There are no single systems that would survive/adapt to changing market environment. Every mechanical system has drawdown period. For the famous Turtle traders it was in terms of Years together!!

You mean trading with MACO systems always need discertionary aspects ??? can you define wat is trend in your terms
Yes, discretion is compulsory for mechanical systems. You need to know when to break the rules and why you're breaking them. Do you really think an indicator is necessary to show me what's the trend? :)