Rank: Advanced Member
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Joined: 2/19/2005(UTC)
Posts: 55
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Hi,
I think indicators and experts should work on their own; such as MACD, RSI, Stochastics, etc. They are supposed to be basic indicators. Now why should someone back-test against thousands stocks to see which one works. Of couse some will give great results because of the quantitiy of stocks tested. I have a list of Naellier 25 stocks. Don't care about the other five thousand or more.
I would expect a "good/basic indicator/expert" would stand on its own merit and not rely on thousands of stocks to proves it's merit. Now I think that is why there are thousands of indicators, which will eventually look good agains some of thousands of stocks! Please advise.
Thanks,
Joe
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Rank: Advanced Member
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Joined: 9/9/2004(UTC)
Posts: 107
Location: Salt Lake City, UT
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Joe I agree. The idea would be to create a system that works realatively well with your 25 stocks.
You may find a system that is already in use that will do this or you may have to create one.
Doc
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Rank: Advanced Member
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Joined: 3/7/2005(UTC)
Posts: 1,346
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hey joe.... my experience has been that very few, if any, indicators will work consistently on their own.... so it would follow that any expert made from the basic indicators will have a tough time standing on its own.... there is just more to it than that ..... at least that's my experience....
back testing can have appeal for some, esp if trying to understand indepth, and i mean indepth, what really is going on with indicators.... back testing can also help in constructing filters....
by choosing to use navellier's select list you have added his fundamental analysis that should compliment for choice of technical trading..... he in a sense has already filtered the other five thousand or more down to 25.....
will post something along the thousands of indicators line later.....h
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Rank: Advanced Member
Groups: Registered, Registered Users, Subscribers
Joined: 10/12/2005(UTC)
Posts: 141
Location: Brooklyn,NY
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Hi Joe,
You have to find what works for you and your stocks.If trading was so clear cut all we have to do is find one indicator and we all will be making money;but it isn't.
We both could trade the same exact stock with the same exact indicator and get very different results.Thats why theres many different indicators and systems out there some like MACD others moving averages ,others stochastics,and others a little bit of all of them.Trading is a blend of art and science.
If we found the holy grail of all indicators then we all began to use it who would be there left to take the other side of our trade.......no one because we all be doing the exact same thing.This is what makes the markets; so many differences of opinions and people trading and investing from different time frames.Thats why protect yourself at all times-keep your hands up(stops,etc.) because somtimes things dont work out like we planed them-in my case it seems that doing the opposite of what I do my be the makings of a good system.
I hope this helps.The 25 stocks are very well researched,and navalier has a very good rep,now is up to you to make those 25 work for you,and in the time frame that you want.Ralph
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Rank: Advanced Member
Groups: Registered, Registered Users, Subscribers
Joined: 2/19/2005(UTC)
Posts: 55
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Thanks for all the info!
Joe
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