Blue Wave Weekly Trend model will finally flip SHORT on a weekly close below 876.91:
A
8 comments:
Anonymous
said...
Thanks Allan as always.
Besides doing Renko on Blue wave, what other software is there to try that has Renko. I looked on stock charts.com and didn't see what level memebership would allow me to have Renko charts. Any tips here?
Enter symbol, and when the base chart appears, goto section below charts and use drop-downs to change the color settings (eg, to midnight) and the chart type (eg, to RENKO).
BWT is an indicator added to a charting package, not a platform. If your charting software doesn't offer renko then take a look at range bars...that is what I use.
I'm getting really frustrated with the market. I've spent countless hours studying technical analysis over the last year, have backtested I don't know how many different swing trading ideas, and have nothing to show for it. The best I can come up with is a break-even system, while most of my ideas would land me in the poorhouse if I actually tried to trade them.
My results are much more positive when it comes to day trading, but due to my job I am not able to day trade. I can see how people can do it though, but swing trading - ugh - just seems impossible. It's tough to keep working at this when there is still no light at the end of the tunnel.
I have considered using the triangles but from what I've read trend following systems such as that will in the long run have low winning percentages. I know that will become a psychological issue for me so I've decided it is probably best if I don't get started using them.
Did you guys all go through this stage early in your trading careers?
Yup. I'm at 18 months and just starting to make some headway.
If you want to swing trade then sign up for NEoWave's S&P trading service. We've made a few hundred points over the last six months. You need a reasonable sized account since even the hourly trades have 20-40 point stops.
8 comments:
Thanks Allan as always.
Besides doing Renko on Blue wave, what other software is there to try that has Renko. I looked on stock charts.com and didn't see what level memebership would allow me to have Renko charts. Any tips here?
dxo weekly needs 3.98 to turn red...yet it's corresponding CCI is weak, (not in the red).
still....something to keep an eye on.
ain't no way opec is going to give that up...but I like to keep an eye on black gold.
-Mike
sheesh. you jinxed it again. How about not saying anything until after the flip or whatever.
RENKO are free with stockcharts.com.
Enter symbol, and when the base chart appears, goto section below charts and use drop-downs to change the color settings (eg, to midnight) and the chart type (eg, to RENKO).
>doing Renko on Blue wave
BWT is an indicator added to a charting package, not a platform. If your charting software doesn't offer renko then take a look at range bars...that is what I use.
Thanks for the tips on exploring stockcharts and using range bars.
Doug
I'm getting really frustrated with the market. I've spent countless hours studying technical analysis over the last year, have backtested I don't know how many different swing trading ideas, and have nothing to show for it. The best I can come up with is a break-even system, while most of my ideas would land me in the poorhouse if I actually tried to trade them.
My results are much more positive when it comes to day trading, but due to my job I am not able to day trade. I can see how people can do it though, but swing trading - ugh - just seems impossible. It's tough to keep working at this when there is still no light at the end of the tunnel.
I have considered using the triangles but from what I've read trend following systems such as that will in the long run have low winning percentages. I know that will become a psychological issue for me so I've decided it is probably best if I don't get started using them.
Did you guys all go through this stage early in your trading careers?
>Did you guys all go through this stage
Yup. I'm at 18 months and just starting to make some headway.
If you want to swing trade then sign up for NEoWave's S&P trading service. We've made a few hundred points over the last six months. You need a reasonable sized account since even the hourly trades have 20-40 point stops.
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