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Is this argumentation correct?

  • #1
  • First Post: Edited 2:18pm Jul 29, 2009 12:38pm | Edited 2:18pm
In daily charts, since they are more accurate technically, if one leading indicator signals a direction and the same is in the weakly ( And both trend directions suit this) , this is enough to open the trade in that direction. Is this correct?
  • #2
  • Jul 29, 2009 1:14pm Jul 29, 2009 1:14pm
Quoting efiler
In daily charts, since they are more accurate technically, if one leading indicator signals a direction and the same is in the monthly ( And both trend directions suit this) , this is enough to open the trade in that direction. Is this correct?

may be
  • #3
  • Jul 29, 2009 3:05pm Jul 29, 2009 3:05pm
Quoting efiler
In daily charts, since they are more accurate technically, if one leading indicator signals a direction and the same is in the monthly ( And both trend directions suit this) , this is enough to open the trade in that direction. Is this correct?
As far as "is this enough to open a trade", there is no correct or incorrect. Depends on trading style. If you're asking about probability, I would personally say "yes", but it's entirely up to you. You'll also have to take into accounts how long you plan to hold the trade, how much you can risk, and therefore your stops and limits (or OCO orders if you're dealing with this crap in the U.S.).
  • #4
  • Jul 29, 2009 3:36pm Jul 29, 2009 3:36pm
Quoting dunningduke
may be
Good answer.


An indicator that agrees on those two timeframes lends a little validation to the trade, but probably not enough to enter unless the indicator is used in conjunction with some sort of trade setup to ensure a good entry. Daily and monthly charts, even when trending, require a lot of wiggle room. You"ll want to enter on the right correct side of the wiggle.

You'll get mixed advice on the correct side of the wiggle too. Some strategies call for buying new highs and selling new lows. Some call for buying pullbacks and selling bounces.
  • #5
  • Jul 29, 2009 9:22pm Jul 29, 2009 9:22pm
There is no point to reinvent the wheel. I can use other already time tested strategies.
  • #6
  • Last Post: Jul 30, 2009 2:07pm Jul 30, 2009 2:07pm
Quoting efiler
There is no point to reinvent the wheel. I can use other already time tested strategies.
However, this wheel can always be improved upon.
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