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is it true

  • #1
  • First Post: Nov 15, 2006 12:33pm Nov 15, 2006 12:33pm
so all those overbought/oversold indicators like rsi, stoch, cci, etc.

Do you agree that these indicators are especially useful for fade traders.
  • #2
  • Nov 13, 2017 10:38am Nov 13, 2017 10:38am
"Absolute Truth vs. Relativism
While absolute truth is a logical necessity, there are some religious orientations (atheistic humanists, for example) who argue against the existence of absolute truth. Humanism's exclusion of God necessitates moral relativism. Humanist John Dewey (1859-1952), co-author and signer of the Humanist Manifesto 1 (1933), declared, "There is no God and there is no soul. Hence, there are no needs for the props of traditional religion. With dogma and creed excluded, then immutable truth is also dead and buried. There is no room for fixed, natural law or moral absolutes." Humanists believe one should do, as one feels is right."

Read more here: https://www.allaboutphilosophy.org/absolute-truth.htm
Gone to a better place
  • #3
  • Nov 14, 2017 8:21am Nov 14, 2017 8:21am
Quoting hilmy83
so all those overbought/oversold indicators like rsi, stoch, cci, etc. Do you agree that these indicators are especially useful for fade traders.
Trading indicators are useful, but they are not everything! For being a good trader it’s very important to understand the market sentiment! That’s the importance of technical and fundamental analysis in the Financial market!
  • #4
  • Nov 14, 2017 8:32am Nov 14, 2017 8:32am
Quoting hilmy83
so all those overbought/oversold indicators like rsi, stoch, cci, etc. Do you agree that these indicators are especially useful for fade traders.
100% agree.
Naked chart and your eye is all you need. Your eye is your best indictor.
  • #5
  • Nov 14, 2017 9:06am Nov 14, 2017 9:06am
I find indicators useful, but that is not always the case for all traders. What is true for me, regarding indicators, may not be necessarily true for you.
  • #6
  • Nov 14, 2017 9:44am Nov 14, 2017 9:44am
Quoting mlawson71
I find indicators useful, but that is not always the case for all traders. What is true for me, regarding indicators, may not be necessarily true for you.
I agree with your opinion! Most of the time, trading indicators loss their momentum and produce many false signals! This is why, I rely on mainly fundamental analysis! Yes, I seem fundamental analysis is much reliable than indicator based trading!
  • #7
  • Nov 14, 2017 10:02am Nov 14, 2017 10:02am
Quoting GeorgeBaile
{quote} I agree with your opinion! Most of the time, trading indicators loss their momentum and produce many false signals! This is why, I rely on mainly fundamental analysis! Yes, I seem fundamental analysis is much reliable than indicator based trading!
can you tell how you analyze fundamental. thanx
  • #8
  • Nov 14, 2017 1:36pm Nov 14, 2017 1:36pm
Point is that a market cannot be oversold or overbought. It can always move higher or move lower, depending on the fundamentals and the sentiment of the traders.

So I personally think such Indicators are pretty useless.
  • #9
  • Nov 14, 2017 1:49pm Nov 14, 2017 1:49pm
Quoting hilmy83
so all those overbought/oversold indicators like rsi, stoch, cci, etc. Do you agree that these indicators are especially useful for fade traders.
not all as is the trading books say, but with certain exceptions....YES!!
there is always, always another trade!!
  • #10
  • Nov 15, 2017 9:04am Nov 15, 2017 9:04am
Quoting GeorgeBaile
{quote} I agree with your opinion! Most of the time, trading indicators loss their momentum and produce many false signals! This is why, I rely on mainly fundamental analysis! Yes, I seem fundamental analysis is much reliable than indicator based trading!
I don't think it has anything to do with momentum, different indicators just use different algorithms to calculate them.
  • #11
  • Nov 22, 2017 1:00am Nov 22, 2017 1:00am
Quoting hilmy83
so all those overbought/oversold indicators like rsi, stoch, cci, etc. Do you agree that these indicators are especially useful for fade traders.
Sessions have an impact on validity on breakouts. Asian sessions breakouts are usually short strung. They are one hit wonders.

Sydney closes tend to follow suit.

London open breakouts are fast and momentum is strong.

So is New York open. So overbought and oversold are precursor to inevitably. But the problem is when. News. That's when.
You're going to pay a price for every bloody thing you do and don't do
  • #12
  • Feb 28, 2018 1:25pm Feb 28, 2018 1:25pm
Quoting hilmy83
so all those overbought/oversold indicators like rsi, stoch, cci, etc. Do you agree that these indicators are especially useful for fade traders.
Maybe, but I have very much frustrating experience with the custom & default trading indicators! This is way, now I am doing my live trading only based on my Price Action trading knowledge & experience.
  • #13
  • Mar 1, 2018 8:52am Mar 1, 2018 8:52am
Quoting GeorgeBaile
{quote} Maybe, but I have very much frustrating experience with the custom & default trading indicators! This is way, now I am doing my live trading only based on my Price Action trading knowledge & experience.
I mostly use price action as well, although sometimes I find indicators like the RSI and BB and MA useful.
  • #14
  • Mar 4, 2018 10:23am Mar 4, 2018 10:23am
Quoting hilmy83
so all those overbought/oversold indicators like rsi, stoch, cci, etc. Do you agree that these indicators are especially useful for fade traders.
Indicators are useful but not the whole thing. Only charts are also very important. There is much more thing than indicator. It is the mind. Sometimes you just know it's going to work. With time you get an understanding of trading. That understanding is beyond everything.
  • #15
  • Mar 4, 2018 1:41pm Mar 4, 2018 1:41pm
Quoting AgusKurniaw
{quote} Indicators are useful but not the whole thing. Only charts are also very important. There is much more thing than indicator. It is the mind. Sometimes you just know it's going to work. With time you get an understanding of trading. That understanding is beyond everything.
I completely agree with your opinion! Chart is much important than the technical tool! This is way, I focus on the Price Action trading strategy, it’s my key.
  • #16
  • Mar 5, 2018 9:28am Mar 5, 2018 9:28am
Pure price action is also a form of technical analysis though? Or you mean it without additional tools?
  • #17
  • Mar 5, 2018 8:23pm Mar 5, 2018 8:23pm
No indicator is perfect but if you learn how to combine the best and practice, you can build a robust Forex trading strategy for success.
  • #18
  • Mar 7, 2018 5:27pm Mar 7, 2018 5:27pm
Quoting hilmy83
so all those overbought/oversold indicators like rsi, stoch, cci, etc. Do you agree that these indicators are especially useful for fade traders.
how useful the indicators are totally depends on they fit in your overall strategy. An oversold RSI can mean it's a good time to buy if you're on the bottom of a trading range or a pullback. But it could also be a sign of a strong bear breakout. It depends on other factors, but in general you may be right that most people use the oscillators to fade the short term move.
  • #19
  • Mar 8, 2018 11:58am Mar 8, 2018 11:58am
It all depends how expert you are to use them. Some only like price action. Some people like to trade with indicators. In both groups there are successful traders. I think that everything depends on your understanding and what you find easy to go with.
  • #20
  • Mar 8, 2018 1:03pm Mar 8, 2018 1:03pm
Quoting hilmy83
so all those overbought/oversold indicators like rsi, stoch, cci, etc. Do you agree that these indicators are especially useful for fade traders.
for the simple fact that overbought, oversold are all terms which doesnt respresent price action at all, it would make trading it completely worthless.
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