Best Trading Indicators for Day Trading and Swing Trading
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- Опубліковано 26 лис 2017
- One of the best trading indicators for stocks, futures and Forex is actually an old, but rarely used drawing tool on your charts.
go.topdogtrading.com/free-tra...
Not many people use this any more for day trading and swing trading E-minis, Forex and the stock market. Traders are always looking for a new shiny object to gain an edge in the markets, but sometimes the old "tried and true" methods work the best.
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Barry Burns
Top Dog Trading
TopDogTrading.com
Facebook: / topdogtrading
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Risk Disclosure: bit.ly/Risk-Disc
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RISK DISCLAIMER:
The information contained on this video is for informational and educational purposes only. We are not registered as a securities broker-dealer or as investment advisers, either with the U.S. Securities and Exchange Commission or with any state securities regulatory authority. We are neither licensed nor qualified to provide investment advice. Trading and investing involves substantial risk. Financial loss, even above the amount invested, is possible. Seek the services of a competent professional person before investing or trading with money.
The information contained on this video, is not provided to any particular individual with a view toward their individual circumstances and nothing in this video should be construed as investment or trading advice. Each individual should assume that all information contained on this site is not trustworthy unless verified by their own independent research.
Any statements and/or examples of earnings or income, including hypothetical or simulated performance results, are solely for illustrative purposes and are not to be considered as average earnings. Prior successes and past performance with regards to earnings and income are not an indication of potential future success or performance.
You should never trade with money you cannot afford to lose. The information in this video is in no way a solicitation of any order to buy or sell. The author and publisher assume no responsibility for your trading results.
This information is provided "AS IS," without any implied or express warranty as to its performance or to the results that may be obtained by using the information.
Factual statements in this site are made as of the date the information was created and are subject to change without notice.
HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. - Навчання та стиль
Another informative video! Thanks, Barry!
Glad you found it helpful, thanks for letting me know.
Really Mr TopDog!! Another great video?
Thank you Sr..
really loving the knowledge
Thank you for your kind comment, and you're very welcome Daniel.
Thanks Barry, that was great! I learned a lot from this video. I really appreciate your humor as well.
You're very welcome Sonia. Not sure if my jokes are funny, but I enjoy throwing them in every now and then to keep things entertaining!
Yet another great Video by Top Dog Trading. Barry your Vids exhibits a perfect understanding through Clarity & Articulation. Keep it Simple !!!
Thank you so much, I'm always keeping simplicity and clarity in my mind as I teach.
Thanks for this greate lection!
You're very welcome Magnus.
Your videos are TOPDOG!
Thank you so much Pieter.
My 3rd video with you. I am hooked. Love your classes and philosophy.. were blessed with your work..
Thank you for the kind words Sito, I'm glad you're finding my tutorials helpful.
Always love you videos. Thank you.
You are so welcome Reed.
I must try it
Thanks a lot. As always this is another good video.
Thank you Manmeet.
So happy I watched this! Shared!
Thank you for sharing the video Rachel. Much appreciated.
Thank you for sharing the knowledge
You're very welcome David.
very nicely described thank you
You're most welcome
Once again, another fantastic tutoring video. You rock...thanks!
Thank you, much appreciated.
Nothing to say but unique and perfect; Thanks a lot,
You're most welcome Cyrus 😊
Another awesome video from you! Great explanation. Thank you for sharing your insights.
Glad it was helpful!
Thanks Doc. It is always helpful and very insightful.
Glad the video was helpful for you Jose.
Great tool Barry.,. I’ve haven’t used it (yet), but I love how you’re always bringing provocative new ideas/tools to the table, and presenting them in a manner that’s easy to follow. Thanks!
You're very welcome.
Great Video, Barry
Thanks Chris 👍
so I watched a you tube video called the butterfly affect and all the free information on your channel really speaks for your character and your a credit to humanity!
Thank you so much, I appreciate your kind words!
Thanks Barry. Lovely Trines of Andrew Pitchfork you taught us for exit guidance.
Glad it was helpful Vineet.
I’m new to trading and your channel but I’ve accumulated so many subscriptions to trading channels over the last few months. Your channel is one of my favorites, hands down! Love all that you do, thank you!!
Thank you for the kind words Bella. Glad to be helpful with your new journey into trading.
Barry I've watched a few of your videos and they have been very helpful especially to a new trader like me. Keep em comin sir
Thank you Joseph.
That's right
Nice concept! Have you done any videos on gaps openings (up and down)?
Great video....extremely helpful explanation...
Thanks Barry; I always wanted to know how that tool worked along w ideas how to build strategies around it. Really like your easy going teaching style as well.
Thank you for the kind words Thomas.
Very Simple to understand Barry. Will try it for sure. Thanx
Yes, give it a try and let me know how it goes.
Thank you for this pitchfork 101!!! I never knew how to use this tool properly. It's fantastic!
Glad you liked the lesson. Yes, I LOVE the pitchfork - hope it helps you as much as it does me.
I loved this!!!!! Thanks Barry :)
You're very welcome, glad you loved it!
Wow, I didn't know how to use this tool until I watched this video. Very grateful for this tutorial.
Glad it was helpful Richard.
Thanks Barry, I've use the "PF" with a more conservative setting of 75%&25% giving tighter stops & exits while trading multiple contracts eliminates a little more stress👍.
Nicely explained! I'd been wondering about the pitchfork!
Thank you, I'm glad the tutorial was helpful for you.
Looks great for profitable exits. Would you stop loss if it moved against you beyond a specific tine? I mean after it moves in your favor and your position is still in profit but it's starting to move against you and break out of the pitchfork before you've closed? Thanks
I really love the indicators you show that was unknown to me till now, didn't know that they can be used in trading. Good job, really you explain things clearly and made them clearer and can understand what they really are.
Thank you for your kind words. I'm glad I can help you with your trading and wish you all the best.
Very interesting! Thanks for sharing !
You're very welcome CG
Great thanks
You're welcome Robel
I always wondered how to interpret that tool correctly. Your video really helped, more than some of those "education" articles on other websites. Thanks!
Thank you so much Patrick. Glad to be of help.
Thanks.... I am happy with equidistant channel...
This video was quite helpful. Thanks.
You're very welcome.
Nice vid. Informative, no bragging about money won, just factual and interesting 👍
Thank you Alan, I'm glad you liked the tutorial.
Dear Dr Barry. Thanks a lot for introduce us Andrew´s Trident. it is very useful to get in and get out into a trade. New Lights for us. Thanks again
Glad it was helpful Francisco
it is indeed a very good method to decide where to exit and re-enter the market. But how do we know where to start drawing the pitchfork? It is easy to draw it of course when we have a full chart in front of us cos everything became history but if we eg., draw it today, how do we know whether the pitchfork should go upward or downward?
I would have never considered using this but looks interesting. Thanks!
You're very welcome Amity
Thanks again for a great video! You rock! ;)
Thank you Mary - you rock too!
Awesome videos, very informational keep making them! Turned out to be a head and shoulders
Thank you Juliano for the encouragement and I'm glad the tutorials are being helpful to you.
Hello Barry just a couple of things I didn't get like when would you udar this tool? So are we just analysing previous data for future entries and exits? Also what time frames are we looking at with this? Hope you can help!
thank you .
Welcome 😊
Interesting video Barry, always well presented and simple. Thanks
You're very welcome Clinton. Thank you for letting me know you liked the tutorial.
Good thank you. Very clear and informative.
You're very welcome, I'm glad you found it helpful Veena.
thanks very much. very interesting, I am a beginner, some how confused. stay blessed.
You're very welcome Ramesh and good luck in your new trading journey.
Great Video. Easy explained. Thak you
Thank you, I'm glad you found the lesson helpful.
What time frame do you use. Daily 120 days? Can the fork be used in other time frames?
You just "sold" my secret LOL I love Andrew's Pitchforks for timing good exits! Thank you Barry for this refresher/reminder :-)
Yep, they're pretty awesome alright!
Thanks Dr. Burns
You're very welcome Robert.
Extremely helpful
I'm glad Cesar. Thanks for letting me know.
All good content barry!
Thank you, much appreciated.
great explainations... keep guiding us... Kind Regards
Thank you Raja, much appreciated.
Very nice video
Thank you Hemant.
Why have I not used this tool before. Thanks, love it!
Glad you like it James.
Insightful and informative. Watching from the Philippines
Glad you liked it Gelo.
All of your videos are extremely helpful, but this one covers my biggest issue in trading. I've made a decent amount of money using your courses and UA-cam videos and I can't thank you enough. Every video teaches me a new tip and are instrumental in making me a better trader. Thank you Barry.
I'm excited to hear that Logan, keep up the great work.
What a winner! Thanks
You're very welcome Priscilla.
Thank u for this
You're very welcome Macster.
Woow, always knew about this tool but never really bothered to check it out. Thank you sir! Can this only be used on daily or would you recommend at 4h charts or even on lower timeframes?
Yes you can you can trade it on any time frame Mansur.
Great info .
Glad you found it helpful.
Didn't even know that it exists. Thanks!
Glad I could share something new with you Philip. Give it a try and see what you think.
Thanks Barry - I am new to your channel. Would you know where one could get the Andrews Pirchfork indicator for MT5? (preferably free)
Hi Tania, I'm not sure. That's a good question to ask MT5 support directly.
Thanks Dr Barry.
It was a great tutorial. However, can I always draw it from the latest high and low?
Yes, you can do that, it's a common practice.
Great video, most definitely subscribing after this!
Where exactly can this indicator be downloaded from?
Thank you Aaron. Where to get the indicator will depend on the charting platform you're using. Best to contact their support team and ask them.
Love it! Thank you!
You're more than welcome Fred.
Hey Barry what a great tool that we always ignored..I tried this on our most volatile index and its amazing. What a combi of fib, channel and trendline..( I guess) ..In tradingview, we have Pitchfork, Schiff, Modified Schiff and Inside ..I need to practice these separately.. hope you would explain these too someday..
Thanks, I'll add those to my "to do" lists for future videos.
Excellent!
Thank you, I'm glad the video was helpful for you.
anyone know how to get pitchfork in Das Trader? i think its not in there.
I really appreciate ur effort to educate newbees like me .... Thanks....
It's my pleasure Shashi
All your videos are so helpful and extremely practical!!! However, Is there there another name for this particular indicator? My platform e-trade doesn't provide it. I would love to try it!
Hi Marilyn, I've never used e-trade, but perhaps someone else will see this and can answer.
I'm interested in the free cycle indicator
how to use it in day trading ?
Interesting way of getting out. I use the EMA with a 3-bar setting (high or low depending upon the trade direction) and when it breaks the EMA, its exit time. The EMA, IMO, is better at telling you when a swing bar is forming. This one, the Andrews pitchfork looks like it gives the same information, except you can use it for its predictive value. Right now, I just use the R/R tool on NT8 and see if price CAN reach the 2:1 and take it if it can (must have gotten there before within a 24-hour period). Since I leave a lot of money on the table for the euro (exit too early), I'd like to try this and compare it with using the EMA.
Thank you for sharing that Eileen.
Thank you, this is what I was missing to be a better trader
where was your entry price, where did you exit???
EXCELLENT
Thank you Walid.
How do you find an entry?
Awesome
Thank you Crypto Master!
I love the auto text when Barry says Tines ....... T.I.N.E.S. and the robot text says TI any ASS !!!
LOL! I didn't notice that!
btw it was an awsome video
Thank you Arpan.
would you mind adding all the geometric analysis video??
Thank you for the request. I'll add it to my list of videos to do in the future.
nice tool. good work
Thank you Pedro.
Can we use this on any time-frame or is there any specific Time-frame that we have to follow.
You can use it on any time-frame with which you'd normally find success using your current trading method.
I've played with this tool but never knew how to use it .
Hope this was helpful Aukai.
@TopDogTrading I've been looking for a PF video for ages, this is one, without so much as the word "pitchfork" anywhere. Just goes to show you, technical analysts are no search engine optimizers. lol
:-)
TOS has a two-prong. I'd rather use the channel tool which I started using last week. Better than just a trendline.
Nice! I prefer that too.
It's very easy to analyse data after closing of market...in live market it's not easy to find right decision...
Of course, that goes without saying.
When to get out depends to an extent on the type of mkt...a wide trading range mkt with strong support resistance levels is easy to identify the exit. On a trending mkt, count the number of legs and wait for a loss in momentum with reversal candlesticks. If it is also OS OB that makes the loss in momentum even a stronger exit. I know about OB OS in trending mkts demonstrating strength, but when occurring simultaneously with loss in momentum, they work well....How can you detect loss in momentum other than indicators? The final leg will be smaller length in comparison to the previous two to three legs. And of course look for support and existence confluence points with the foregoing. OK, is that Hard? Yes, actually it still is difficult, but if several of the above points materialize it makes it easier. And as the number of simultaneous events come together, the odds increase for a reversal. I have personally counted 9 reasons to take a trade. Three or four will do just fine.
Very thoughtful response Walter!
What time frame is this used for?
It's not limited to any particular time frame nick. It automatically adjusts to the time interval of your chart.
Back in the day I followed Tim Morge and learned a lot about Andrews Pitchforks..... they are an amazing tool if used correctly... you can determine levels in advance and many more things... but like so many things in trading, always have a confirming strategy
Exactly Gary, great comment.
As you read about the signals of different indicators, remember that you cannot base trading decisions on a single indicator. You need a strategy you understand and trust and combine them into a trading system. The IQD strategy from Lukasz Wilhelm provides a good and profitable strategy with a recommended indicator that functions with it. Some traders are sleeping on this and you shouldn't be one of them.
Great; But, it seems to some extent complex; it should do much practice on the chart to use it professionally.
Good point Cyrus, most things in trading require a lot of practice before being able to use effectively.
Its like a mixture of Bollinger and fib.
Does this work on lower time frame? 1 hr?
Hi Partik, yes, absolutely.
Sir, Can it work for Indian stock market also?
Can u take an indian stock as an example also
New toy for me to play with
Have fun!