How to use the stochastics indicator?

I just found out over at meta 4 traders u r able to use stochastics indicator...just wanna ask do i need to use any other indicator to compliment it??

http://www.tsnumi.com/articles/artic...ics-indicator/

hmm dun quite understand what it means..can any trader who is using this give some advice too?? thanks alot

my advice is dont use it youll blow up your account.

You could use the stochastics indicator as a filtre,
You could also use it to spot some divergance .
But i think that you need to use it with some price action ,S&R or an other indicator ,or mabye with one or two stochastics with other setting .

IMHO, just sometimes, when diverging, it's one more piece of the puzzle. But I don't use it very often.

Many times in early days just did like: "sell" when Sto was above 95 (c'mon that's D1... OF COURSE it's going down!....how smarrt I am!... then Sto keep above 95 for 3 days... a tiny bounce to 85 (Yes!! i knew I was right!) then beck to over 95... In the meantime, SL taken, another sell (Yes, I know... revenge!... shame on me....) antoher SL taken, an price reaching the stars....

Just my experience...

For me it's just a tool. nothing more.....

take a look at the "sexy stochs", "stochs secrets", and "double stochs"..

Cheers!

Use the stochastics to time your entry into a trade.
When price is trending up you can buy the dips, stoch will be oversold, and sell the rallies in a downtrend, stoch will be overbought.

Just one way to use the stochs, apart from the divergences.

Don't use indicators! No MACD, stochastics, moving averages! Price action are much much more profitable. My trades can attest to that.

I dont trade with indicator either, but I like to learn indicators

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Buying New Highs and Selling New Lows

hmm what do u mean by price action?? is there other way to use beside indicators?? thanks alot

Price Action (very basically) means trading with no or only a few indicators (maily used as tools, never triggers) -> "trading naked", watching the action and reaction of price to detrmined levels/zones (support/resistance, order flow, etc...)

Look at "Silent Service Method" (by clockwork71), "James16 Chart Thread" (by James16) and "Jacko's Forex House of Pleasure and Pain" (by Jacko).... they all are in the commercial section, but there are lots of good stuff on PA there.

Cheers

Hi DestinyFate, Stoch(s) can be the main indicator. Best examples are Sexy and Spud's Stoch. However, they use it differently from the article. I use Stoch(s) for direction and as entry signal. If you are like me can't tell which way the price is moving then try out Stoch(s)