I'd like to create this thread for experienced chart users, mostly, OK to lurk I guess, but I would rather the posts be informative rather than inquisitive in nature. I'm not a jerk and I'll help anyone I can. My concern is not that, just clutter and finding the post you may be looking for easily.
I use Active Trader Pro through my Fidelity Account. Two screen fully loaded with various charts with tabs. My primary chart is six month daily candlestick. Under the standard stock chart are my indicators, SS Stochastic, StochRSI, RSi, MFI, MacD, and CMO (Chande Momentum Oscillator) on the other screen is a two year weekly candlestick I use for trend lines etc and a broader overview of timeframe for reference.
My requirements are that ALL six indicators must be in their target point (over bought or over sold levels) before I buy or sell a stock. This has given me an 80% success rate, but my problem is this:
Sometimes, (more often than not) the indicators kick in and I buy or sell but the stock continues in the original direction for a few days to a week, I always seem to be down for a few days, but it does eventually reverse and I do well. But my worry is constantly there for those days that it's down instead of up. My usual hold is two weeks to over a month, depending on the indicators, I'm not tied to any particular time frame.
Does anyone using similar technique have any advice for that momentum that my indicators are not showing? I've got a few momentum indicators but they are all more accurate in hindsight. I can't seem to find anything that says, “Hey, wait a couple days or a week before you trade this”
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