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Which technical indicators do you use and combine ?

  • Post #1
  • Quote
  • First Post: Apr 30, 2009 4:59am Apr 30, 2009 4:59am
Hi..

I am starting to build my own trading system, according to my trading style. However, I need some advices about, indicators you use and combine, to detect:

- trend direction
- trend strength
- possible trend turning points
- entry signals, exit signals...
- ... etc

Now I am experimenting mostly with stochastic (entry points) and moving averages (trend detection). The results are not so bad, but there are still too much negative trades (or false entry signals) and obviously large drowdowns.

Well, I would like to filter out these negative trades...?! And for this reasons I am searching for ideas and advices.

Thanks
  • Post #2
  • Quote
  • Edited 6:04am Apr 30, 2009 5:37am | Edited 6:04am
Quoting SloFX
Hi..

I am starting to build my own trading system, according to my trading style. However, I need some advices about, indicators you use and combine, to detect:

- trend direction
- trend strength
- possible trend turning points
- entry signals, exit signals...
- ... etc
- trend direction
Price action
- trend strength
Price action
- possible trend turning points
Price action
- entry signals, exit signals...
Price action
- ... etc
Price action

And most importantly , trade with discretion. Everyone is saying price action and discretionary trading. If it doesn't work for you , it means you have not master them. Keep trying becoz price action and discretionary trading will never lose in a long run. That's what everyone trying to say. Most system on FF always end up having price action and discretionary trading as part of the system.

If you have any system that doesn't work, don't worry, just add price action and discretionary trading, IT WILL WORK.
Quoting forexisfx
- trend direction
Price action
- trend strength
Price action
- possible trend turning points
Price action
- entry signals, exit signals...
Price action
- ... etc
Price action

And most importantly , trade with discretion. Everyone is saying price action and discretionary trading. If it doesn't work for you , it means you have not master them. Keep trying becoz price action and discretionary trading will never lose in a long run. That's what everyone trying to say. Most system on FF always end up having...
+1
4 EMAs

1 RSI

+ S&R
= Simple, effective, given you got discipline.
"Diversification is an excuse for a lack of talent" ~FXC
learn how to read the chart and you'll find answer to all your questions. It'll take you sometimes but once you grab it , it is forever. The best part is that you dont need updates or adjusment. It is a single dose for life.



Succes is not an event. It is a process.
Quoting forexisfx
- trend direction
Price action
- trend strength
Price action
- possible trend turning points
Price action
- entry signals, exit signals...
Price action
- ... etc
Price action
To Live is the rarest thing in the world , Most people exist , that is all
My strategy:

RSX + MURREY MATH + SMA5 + EMA 50 + ...

But remember...price action MUST confirm your signals beacause sometimes indicators lies....
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy.gif Size: 30 KB
Quoting zappolo
My strategy:

RSX + MURREY MATH + SMA5 + EMA 50 + ...

But remember...price action MUST confirm your signals beacause sometimes indicators lies....
there we go.
Bollinger Bands are a tool of technical analysis which was invented by John Bollinger in the 1980s. Having evolved from the concept of trading bands, Bollinger Bands are an indicator that allows users to compare volatility and relative price levels over a period time. Basically, this tool provides a relative definition of high and low. By definition prices are high at the upper band and low at the lower band. This definition can aid in rigorous pattern recognition and is useful in comparing price action to the action of indicators to arrive at systematic trading decisions. When the market is calm, the Bollinger Band lines get closer together and when the market was changing Bollinger Band line expand.

You can read rest of the article at Bollinger Bands.
I'm only take support and resistance for my trade,

__________________________________________________________

History Level GBPUSD
  • Post #11
  • Quote
  • Last Post: May 4, 2009 11:02am May 4, 2009 11:02am
Thanks for all your replys ..

I noticed that you prefer "price action" trading. Can you please suggest me some good sources about "price action" trading?!

However I am still interested in combining technical indicators, cause I am building an EA...

bye
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