Hi all, my first post.
I've been reading a lot and learning a lot and slowly developing a system and trading style that suits me. I'm mainly geared towards following price action and prefer to keep the screen clean and simple rather than cluttered with indicators. However I feel it makes sense to keep a couple of moving averages up there to show the general short term or longer term trends present in the price action. If only I could decide which ones were the most practical.
So for example, recently I've been looking at the 15M time frame a lot. A 24 EMA seems to show the short term trend while switching to the 1H chart it then shows how the market has been moving over the previous 24 hours. Or something like that. I also like having a 100 EMA on the screen. But these are fairly arbitrary choices. I've tried a number of different MA's whether simple, exponential, or weighted, all in response to particular systems offered on this board. I'm still trying to work out which ones would be most useful to me and conversely, what it is I can best expect an MA to provide. So I'm hoping it may be possible to distill all the MA systems and advice into one simple thread.
I'd be especially interested in hearing what the more experienced traders feel about MA's.
Perhaps posters would like to state the MA's they use, the time frames they use them for, and of course the reasons why. It's not necessary to describe your whole trading system, but just detail how the MA's you use are most valuable.
Much thanks in advance,
Bob
I've been reading a lot and learning a lot and slowly developing a system and trading style that suits me. I'm mainly geared towards following price action and prefer to keep the screen clean and simple rather than cluttered with indicators. However I feel it makes sense to keep a couple of moving averages up there to show the general short term or longer term trends present in the price action. If only I could decide which ones were the most practical.
So for example, recently I've been looking at the 15M time frame a lot. A 24 EMA seems to show the short term trend while switching to the 1H chart it then shows how the market has been moving over the previous 24 hours. Or something like that. I also like having a 100 EMA on the screen. But these are fairly arbitrary choices. I've tried a number of different MA's whether simple, exponential, or weighted, all in response to particular systems offered on this board. I'm still trying to work out which ones would be most useful to me and conversely, what it is I can best expect an MA to provide. So I'm hoping it may be possible to distill all the MA systems and advice into one simple thread.
I'd be especially interested in hearing what the more experienced traders feel about MA's.
Perhaps posters would like to state the MA's they use, the time frames they use them for, and of course the reasons why. It's not necessary to describe your whole trading system, but just detail how the MA's you use are most valuable.
Much thanks in advance,
Bob