Stochastic Study Material

[cpatte7372]

Hello,

Can someone recommend some good online sites where I can learn about Stochastic for day trading?

Cheers

Carlton

[DuaneG]

Hi Carlton,

There are several sites out there that outline the technical descriptions for Stochastic indicators. The following link is pretty descriptive on the calculation and proper use of this indicator.

http://www.paritech.com/education/te...tochastic2.asp

Let me know if you have any questions.

[cpatte7372]

Duane,

Thanks mate for the link. I have just one other question before I check out the sites. Is Stochastic commonly used for day trading? I get the impression that its only really used on daily, weekly or monthly charts and not often used by day traders intraday. Would you agree?

Cheers

Carlton

[DuaneG]

Hi Carlton,

From interacting with various types of traders, it has been my experience that stochastic indicators are also widely used on shorter term time frames as well as daily and weekly intervals.

Let me know if you have any questions.

[ACM]

Carlton
If I may add to Duane's reply don't forget to read Garth Doverspike's article on Stochastic which is available here
Alex

[cpatte7372]

Thanks guys,

Alex, I have just read the first paragraph from the article. I now feel a little more confident in spending time studying Stochastics.

Thanks again, mate.

Carlton

[cpatte7372]

Alex,

You wouldn't happen to know if Garth Doverspike has written any articles on Elders Triple Screen system?

Cheers

Carlton

[cpatte7372]

Alex,

Can I get your opinion (and indeed the opinion of others) on the use of MACD for day trading?

Cheers

Carlton