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Heart of Ohio | I'm always looking to improve my marketing skills. Been an avid chart watcher, CBOT hedger, and cash marketer for over 30 years. MANY years ago, an early teacher / mentor broker of mine convinced me nearly all technical indicators work overtime. Knowing the type market one is in and applying them at the correct time and correctly was the key to unlocking their success. I have grown to believe that now and would add, finding the style that fits ones personality / risk aversion is also a key.
Each winter I try to study / learn a new tech indicator in the greatest detail my mind can absorb, this winter it's been Donchian, a trend changing indicator as I understand it, maybe more. I've looked at many over the years and the templates in this post are the few I've settled on. NOT suggesting these work for everyone, personality, and desired frequency of trading plays a huge part in what appeals to each of us. These are mine, they seem to suit my personality and I consider myself a low frequency, short hedge only trader.
I'm including the current chart template I use on daily, weekly, and monthly charts to try to determine best time to pull the trigger on sales and then cover (other than profit). I invite / welcome suggestions from the forum, in terms of additional indicators I should consider adding to this template...... as I have come to respect and admire the apparent market savy of many on here. (Been a lurker for nearly three years, just recently felt I may have something to offer by posting)
The Andrews, Forks is the next indicator I really want to study, work, and understand and I think it will fit / work nicely on this template, I should add that I do insert and remove trend lines and Fibonacci high/ low indicators often.
Price envelope is 2nd most recent addition, I like it because the center of channel is 20 DMA and it catches daily price range at one end or the other with some frequency. For now, I am very fond of the Bollinger Bands, the red circles indicate where I almost always pull the trigger, buy or sell. Anytime price violates the band more than 5 to 10 cents (beans only) top or bottom on the daily, I'm in the mood to act, not uncommon for me to have target orders there, when I have the time to monitor and change daily. Sometimes it ends up being a short term trade (no more than couple days) sometimes I take it to FND, just depends. Stochastics (slow), MACD, RSI (at times), weekly, monthly charts all play a role in the "just depends". I've found charts take A LOT of the emotion out of marketing for me, and when I'm wrong..... I blame the CHART !!! Ha Ha.
Been wanting to post this for a very long time, apologize for the length, and TIA for any constructive suggestions. Outa time for now. Thanks
Edited by Frisky3208 2/8/2017 04:57
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chart template PATIENCE!! kind of long
