Tuesday, March 17, 2009

Indicator

You might have noticed, that my charts have a Stochastic indicator on them. In trending markets I look for pullbacks on the trend to enter with the trend, seen as a sling on the Stochastic Indictor.

Today I added a second indicator, as sometimes I have that dumb urge to jump into a market. We all know that feeling: Hey, that's a great move, it has legs, and again...I missed it!

Depending on the day, I sometimes just click and enter the trade. Usually when the market stalls and reverses, leaving me pondering the stupidity of my trade.

So I added an overbought, oversold marker. If %D of Sto81 + Sto27 + Sto5 is >280 or <20 a marker is shown, reminding me of the danger to open a trade with the trend in this timeframe.

Globetrader_06
See the red lines above the stochastic indicator.

3 comments:

newtonlinchen said...

Cris,

What software do you use? (Your charts)?

Newton.

Globetrader said...

Hi newton,
I'm using Ensign Software. www.ensignsoftware.com
Best regards,

Chris

newtonlinchen said...

Thanks!

I found your charts to be very beautiful, friendly to look at!

Best regards and trading,

Newton.