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Winthorpe,
I too dabble in day trading. I find that a good way of filtering out noise
with stocastics and RSI especially, is to use candlestick analysis. In Greg
Morris's book, Candlestick Charting Explained, he includes a section on
using sticks together with different indicators. I was especially impressed
with the combination of stocastics and sticks. He also includes his back
testing stats on various combinations. His testing is quite extensive and
his numbers are very impressive.
BTW, how are you finding Signal? I actually returned Meta Pro because
Signal provides no historical intraday day. For me this was a major
drawback as I found I couldn't build a reliable chart without a few days of
data that I had to collect myself. How are you getting around this problem?
I now use Meta 6.5 for short- and long-term trading and am exploring Real
Tick III for day trading.
Lorena Beccari
At 02:32 PM 17/03/99 -0800, you wrote:
>I've just signed up with Signal Online and bought a copy of Metastock
>Professional. My objective is to start day trading utilizing Level 2
>quotes along with the aid of technical analysis on a tick by tick basis.
>Would be curious to hear from other day traders in the types of
>indicators they are currently using with the parameters that they have
>had the best luck with. I'm currently using RSI, MACD, Momentum, and
>Stochastic...still experimenting with 14....9....and 3 parameters.
>Anyone care to expand on this discussion?
> Much Thanks,
> Winthorpe
>
>
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