What happens with this indicator, or is it the market? See image | Forex Factory

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What happens with this indicator, or is it the market? See image

  • #1
  • First Post: Jul 25, 2018 2:41pm Jul 25, 2018 2:41pm
Hi guys, I'm testing an indicator and last week it worked perfectly for me. I had good gains in DEMO.
But today, this week they are all lost!
What could have happened?
Could you please respond, your answers are very important to me.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: fox.png Size: 43 KB
Click to Enlarge Name: fox2.png Size: 38 KB
  • #2
  • Jul 25, 2018 3:32pm Jul 25, 2018 3:32pm
john smith get you
  • #3
  • Jul 26, 2018 3:36am Jul 26, 2018 3:36am
You are at the beginning of a very very long road you still have to go. Consider leaving this speculative field as long as you did not waste too much time with it.
  • #4
  • Jul 26, 2018 3:54am Jul 26, 2018 3:54am
Quoting Janfz
What could have happened?
Simple answer is - Anything!

I'm at the beginning (well, two years) of my journey too and realised that indicators are a bit pointless. I guess many seem to get them to work but I decided that learning price action, support/resistance levels, and moving averages (trend following) was the way forward.

Try using them and you'll get your 'edge' increased.
  • #5
  • Jul 26, 2018 4:52am Jul 26, 2018 4:52am
Rookie talk, this should be moved to!
Learn, a forex trader must, unlearn and relearn he will.
  • #6
  • Jul 26, 2018 5:01am Jul 26, 2018 5:01am
All you need do is modify how you use the indicator. Last week's market might be trendy which the indicator needs to work well. This week's market might be ranging which might not be good for the indicator. So you have to modify how you use the indicator so it covers for any kind of market. You will be needing other indicators to help you filter out the wrong trades and allow the correct trades. All you have to do is note the instances the indicator didn't work and add indicators to this times and see how to filter them out, then apply the same indicator to when it works and see if it still allows it to work. You just need to modify how you use the indicator.

I have indicators i use and i use it in 4 different ways. Same indicators but 4 market situations. And it have improved my trading result drastically. Though it took me years to get this done as i had to study the market for a very long time to get a grasp of how my indicators reacts to the various market situation.

I don't advice everyone to trade with or without indicators as i know we are all wired differently. Someone like myself can't trade without indicators as it removes my emotion from my trades allowing me follow a pattern repeatedly.
i have tried to start trades with a trend, now i prefer to follow the trend
  • #7
  • Jul 26, 2018 5:14am Jul 26, 2018 5:14am
Quoting Janfz
Hi guys, I'm testing an indicator and last week it worked perfectly for me. I had good gains in DEMO. But today, this week they are all lost! What could have happened? Could you please respond, your answers are very important to me. {image} {image}
Looking at those trades and numbers consisting in the first pic in which it has won all and another one it has lost most of them it appears that it actually indicates how the law of small numbers operates in the market.Its not much surprising to me though.

The first pic has 15 trades in which 4 of them have same tp and stop loss which means 4 wins in a row and the probability of such an event occuring is 16/1 which is quite obvious here and thats how i look at that.

the second pic is same as the first one 4 loss in a row.and the probabilty is same as 16/1.

This is how markets works usually unless you have an solid edge.
No one ever Discovered anything new by colouring inside the lines.
  • #8
  • Jul 26, 2018 10:36pm Jul 26, 2018 10:36pm
Quoting Janfz
Hi guys, I'm testing an indicator and last week it worked perfectly for me. I had good gains in DEMO. But today, this week they are all lost! What could have happened? Could you please respond, your answers are very important to me. {image} {image}
If i may add my opinion ,,,
It is NOT the indicator ,,, as indicators are not consistent .
It is NOT the market ,,, cause the market runs in a set style .
I feel the problem is YOU as a trader ,, and i say this with all due respect .
If you have an understanding of the way this market runs , you will have an understanding of price action ,, hence u will NOT have this problem as shown on ur result sheet .
There is just no way you will get it wrong with the right and knowledge depth of price movement .
Learn this game first before replying on something that will not work and more importantly not consistent is my humble opinion
Cheers
LOVE YOUR GAME WITH A PASSION ,,,,, WORK WITH A VISION ! ! ! ! !
  • #9
  • Jul 30, 2018 5:38pm Jul 30, 2018 5:38pm
Thanks guys, I am currently in the testing phase, analyzing all types of indicators with the possibility that fits in my general strategy.
However, my goal in the end will be to do trading in the traditional way, that is: with supports, resistances, lines of tendencies and fibonachi I love these tools.
Regards
  • #10
  • Jul 30, 2018 5:59pm Jul 30, 2018 5:59pm
Quoting Janfz
Thanks guys, I am currently in the testing phase, analyzing all types of indicators with the possibility that fits in my general strategy. However, my goal in the end will be to do trading in the traditional way, that is: with supports, resistances, lines of tendencies and fibonachi I love these tools. Regards
Turncoat(support turned resistance and resistance turned support). Weekly exhaustion. Pivots.
  • #11
  • Jul 30, 2018 9:50pm Jul 30, 2018 9:50pm
Quoting Janfz
Hi guys, I'm testing an indicator and last week it worked perfectly for me. I had good gains in DEMO. But today, this week they are all lost! What could have happened? Could you please respond, your answers are very important to me. {image} {image}
answer. you did not cover all bases.

add more to cover each indicator's shortcomings.

Attached Image (click to enlarge)
Click to Enlarge Name: haha.jpg Size: 200 KB


cheers padawan
  • #12
  • Jul 31, 2018 1:49am Jul 31, 2018 1:49am
at least show some photo or share the indicator that we can tell you what just happened...
  • #13
  • Aug 1, 2018 7:12am Aug 1, 2018 7:12am
Quoting 5aztv88
at least show some photo or share the indicator that we can tell you what just happened...
Well said, same opinion from me! Please add relevant chart on your trading tool; thus we can identify the exact scenario.
  • #14
  • Aug 2, 2018 11:47pm Aug 2, 2018 11:47pm
Sorry guys, the indicator is the: EFC indicator

Regards
  • #15
  • Last Post: Aug 2, 2018 11:49pm Aug 2, 2018 11:49pm
Quoting Bicarus
{quote} answer. you did not cover all bases. add more to cover each indicator's shortcomings. {image} cheers padawan

hahaha, it's a savage that graph.
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