Disliked{quote} Is going Long after we get Long signal on the chart gambling to you or? Or when some other indicators suggest that we should Buy or Sell? Why do you enter the trade? What has to become true for you to open the trade? Simple question! MA's, S&R, S&D, Trendline?Ignored
I use a chart as I would use a speedometer etc in my car. Everything I do with or on that chart is based on what I know and can see happening and coming from other instruments or asset classes. Some people gamble, some manage money.
So an indicator I use eg. a hand drawn trendline onchart, is there coz I put it there. Not coz it "has to be there". I have already shown some on this thread. So it's not 'why is it doing that?' but instead 'what am I doing with it?'. I like to watch money shifts. Perhaps from currency to currency, or from options or an index. You people seem to think money just "floats around out there" but that is a long way from reality. Many participants want to 'line their ducks up in a straight line' so they roll into one situation, finish with it and then into another and another and so on. One after the next.
So I would enter coz it's time. Not coz of indicator onchart. A member here posted a pic of the "phases" of a participant. You would find someone like me in ALL those phases, not coz of greed or ego but the style of money compressions and compounding I use. So indicators must work together with style or styles being used.
So yes I use MA's but I don't "use" a chart to tell me secrets. "Secrets such as S and D, S and R". These are concepts NOT real "things". If you've traded options etc before then you know there's time on the table not just money. So you need to see how to do what and when. And once you see on fx the same things but without many of the restraints in options etc, you can freely move around and enter situations. Not coz of chart stuff but as money shifts. So I have used and do use different indicators yes. But for MY purposes not coz of the instrument (usually) or market.
Seeing as money flows from "good scenario" to another, and if, it sees no borders to move from one thing to another, then why should we?
Yes trading or tracking a single instrument is different, but only in some contexts. You can still trade off both sides as it moves around. You can still use interlocking strategies to max your access and profits. So, in some ways, I do not understand why you all limit yourselves to "data" and news etc.
So I use many things. But I don't usually step in with just a single order with a single SL and TP advertised. And I certainly DO NOT walk away if I have created a loss for some reason. My job is to turn that around.
I do it to manage money not "profit" from speculation. It's a different use of indicators such as a MA or trend line. Some indications onchart tell me what something else is doing, unrelated to that chart but still part of the strategy.
Sorry not easy to explain except to say - I watch money shifts and use real life to have an understanding of other things.
I don't assign a belief to an indicator. I use them ... not them using me.
Some egs of what I have or do use - MA's, drawn trend line, cross chart pivot points (the pivots of something else on that chart), RSI for depth perception, Market Cap, Debt Loading information from "some big boys" (that is freely available) to see how their doing and what they need to work on. This is a good eg as it's real and tangible for viewing future management, Broker correlation tools I designed so I can see what they're "really doing", if you catch my drift. Just some indicators.
I did this full time for years so I kinda "collected" as I went. But the fundamentals/foundations still hold.
You people say - scalper/push, trender, swinger (hihihihihi) etc .... I say ...... learn to do 'em all !!!!
I'm in favor of flexibility not strict positioning or direction, even IF I'm wrong short term I back myself as the best indicator to get it corrected.
Hope that helps a bit.
Peter
Real Trading is not gambling.
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