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Registered User
Joined: 3/11/2011
Posts: 3
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I am an active intrady trader who is new to TC2000. While I am not asking any specific trading advice, can you please tell me which indicators (especially Worden's proprietary indicators) active traders find helpful when trading intraday ?
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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The trainers can't give setting, interpretation or investment advice (specifc or not). I'll move this topic to the Stock and Market Talk forum so other traders will be more likely to see it and comment.
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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Registered User
Joined: 2/13/2005
Posts: 368
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Prep, prep, prep, get your "bugout" location stocked and visit a gun show. oh, and buy some physical SLV
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Registered User
Joined: 3/8/2011
Posts: 58
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Every indicator is based on the same information. Open, close, high, low, and volume. They are all unreliable. Learn to read price action if you want to make money trading.
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Registered User
Joined: 2/21/2007
Posts: 797
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[QUOTE=They are all unreliable. Learn to read price action if you want to make money trading.
Yep, all alot of useless crap.
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Registered User
Joined: 6/6/2005
Posts: 1,157
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Hey WM,
What indicators do you currently use? I think what everyone else is saying here is "keep it simple". I'm pretty bad at daytrading, but watch others use either 1 of 2 strategies which is the same for all timeframes really. Either you're buying support and selling resistance or you are buying breakouts and selling breakdowns.
Both are pretty easy to find. Run scans for highs and lows of days. I know some traders who do nothing buy new 2 day highs.
I think Telecharts power is in its scans and not in the indicators. You can fly through a lot of charts and eyeball a lot of setups quickly. Nothing's faster in my opinion.
That being said, an intraday trading discussion would be great. What scans to use, what set ups, what trade management tools you use, what type of capital you allocate to a trade, and what exit strategies you use. Sounds like a good discussion.
David John Hall
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Registered User
Joined: 3/11/2011
Posts: 3
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I was professionally trained to prop trade on an intraday trade using only price action and MAs as my guide. I am seeking to find if any of the Worden indicators could be used more as confirmation indicators to price, not to EVER trade off them. I am currently experimenting with MS and TSV.
DJH - thanks for the feedback. I agree, a forum for intraday traders would be helpful.
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Registered User
Joined: 1/28/2005
Posts: 6,049
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Since Ive only been gold, I havent had the chance to see,
TSV, BOP, MS during the day.
I would guess (from Harry Boxer) pedal to the metal BOP, MS, OBV,
wouldnt hurt. (on long trades)
Your best bet would be to do what you normally do with it on screen
and see if it helps.
Thanks
diceman
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Registered User
Joined: 11/1/2005
Posts: 240
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useing tc2000, set up the pivot points, use any indicators you have experience with. I like three charts, a large 5 min, with the rest of the space (two screens) filled with 30 min, and a daily chart. use the action from the day before to guess ta mate the direction for the day(follow the short term trend) when you guess wrong. attempt to find a potential buying opportunity from buying tests from the previous days action then settle on one to three to watch first thing in the morning. give them half hr or so to settle into a trend. don't forget the stops. use slower trading stock to gain experience. any more information I will need to charge you??
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Registered User
Joined: 11/1/2005
Posts: 240
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this topic didn't pick up many posts. no way to charge any one? MS works at times. Worden stochastic is good for catching turns. after you find stocks to work with,(I attempt to keep several I look at every evening) add alert for stochastic crossing above 10, or ma crossing another, (3 crossing 5). price backing up to a ma, watch to see if price continues in the same direction or reverses. look for tests of crossings, a back up can also be a test. look at fib or pivot points for opportunity or weakness, when you take a class their interest may be in selling a nightly report, or morning report. some times it helps while one gains experience.
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Registered User
Joined: 5/9/2010
Posts: 144
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WMJFITZ, thanks for the idea! I played around with tsv10 ema6 on an hourly chart. After, carefully going over some nuances like; extremes, convergences divergences and v shapes context right side up or up side down and crossovers. I like! Also, I use Stochastics 14,3,3 with it.
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