basicstochastic(dots) what is it and how do u use it?

[wramos]

I downloaded the basicstochastic dots. I dont really use stochastics on my charts, only price and volume. However i have
friends that trade off of stochastics and they tell me that when
lines cross in lower area its a buy and when the cross at high area its a sell.

Can i use this study without displaying the stocastic study on chart. Also what time frame is this relative too? I find that stochastics are difficult to understand.

I am a pattern trader bearflag etc...... however i have been known
to mirage trade!!! LOL so wanted to use this efs to help me stay out of bad trade.

I notice green dots and red dots, sometimes u get green dot, then it goes lower, meaning if u bought at that time u would have lost. If u use this, how do u determin stop and risk mgmt??

IE I wish to loose no more that 100.00 on a trade so stop must be
10cents. I use pivots and support resistance areas for target and stops.

[FibbGann]

Wramos

Go to this link

click here For further references to trading strategies and how they work. Click on the "LEARNING CENTER" when you first enter Esignalcentral.

Let me know if that helps

Fibbgann

[ACM]

wramos
FYI the basicstochastic(dots).efs you refer to will plot a green dot when %D (Slow) crosses over the lower band (set by default at 20) and a red dot when %D crosses under the Upper band (default 80)
If needed the efs can be easily modified to plots dots at the cross of %K and %D.
Alex

[wramos]

Thanks Fibgan, I also have a freind who uses something from the underground trader, but i dont think he knows what he is doing. (my friend that is) LOL one reason is he cant explain it to me!!!
lol i know he uses the 1 3 and 15 min chart but he cant tell me what his stop is!!!!! LOL

To me if u go into a trade without a stop, u in trouble!!! I know cause i let some stops go and i always regret it.!!!