Disliked{quote} Thats the misconception about indicators. Its is not made to give you a positive pip, it was made to calculate/ simplify data faster. You are then using it worngIgnored
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Disliked{quote} Thats the misconception about indicators. Its is not made to give you a positive pip, it was made to calculate/ simplify data faster. You are then using it worngIgnored
Disliked{quote} Thats the misconception about indicators. Its is not made to give you a positive pip, it was made to calculate/ simplify data faster. You are then using it worngIgnored
Disliked{quote} % Change + real time Sorting = Speed of change to gauge strength/weakness of one currency against another... simple, elegant, universal and market neutral. Everything else will require traders to define a DURATION (not timeframe) as every man-made indicator forces a duration on when an indicator indicates a valid signal. When to use what type of indicator and for how long is what most don't understand. Without this underlying phylosophy, determination of market condition is NOT possible. Everything to see/feel/hear/touch/smell/sense/etc...Ignored
Disliked{quote} The biggest consolation/relief I received from CP was his mention of the 7 long years it took for a smart guy to devise his strategy. I do believe it will take an "average" of 10 yrs to become consistently profitable in the field of trading. If i were ro break it down, first 5 yrs just to find an EDGE. Finding an edge is just one piece of the puzzle. To devise a robust strategy from that EDGE will take another 2 yrs and then another 3 yrs to prove to yourself you have finally ARRIVED to your final destination in your trading career. This...Ignored
DislikedIt is schocking, but these all work, when there is a working simple exit plan. For example, taking a SL is not a good exit plan.Ignored
Disliked{quote} Over the years I got used to gauge the Bias and Momentum with %-change. Just as in my first screen: http://abload.de/img/myscreenxksby.png On my 2nd screen i watch fx-pairs (that i trade most of the time) as "stocks" which can move during a week between 0 to +- 150 EUR. Their movement and the realtime sorting (strong to weak) also gives me a very good idea what's cooking in the market. But i think trading on raw numbers is not everyone's thing. {image}Ignored
DislikedSeems you quoted something from CP and then talked about stochastics, the second worse indicator you could use, after the MACD.Ignored
QuoteDislikedBut I gathered so far that a good exit could be based on a faster occuring signal than the entry trigger. For instance, if I stick again to my stochastics idea maybe a good exit place would be an even faster stochastic line. However, that don't seem to be enough in order to accumulate enough pips in order to balance out the DD and spread.
DislikedSome older threads: Understanding indicator behaviour by Old Dog. What really is divergence by PipMeUp. Cheers, kIgnored
Disliked{quote} Stochastics is the primary reason why I blew my very first account back in 2006. Second account blown was RSI and 3rd was related to MACD. 3 strikes and i have never revisited technical indicators. I was just such a greedy noob way back then lolIgnored
Disliked{quote} That's the reason why I nearly stopped trading with technical indicators since I first like to fully understand it. BTW: It's really pity that you delete all interesting postsIgnored
Disliked{quote} Thats the misconception about indicators. Its is not made to give you a positive pip, it was made to calculate/ simplify data faster. You are then using it worngIgnored
Disliked{quote} Rather interesting. Thanks for sharing! Do you just look your numbers to pick the pair that you trade later on or do you also enter the market based on your numbers? And how do you decide when to exit?Ignored
DislikedIf you go into a trade already knowing that the "winning" formula is buy low and sell high then any indicator that clouds that is counterproductive.Ignored