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What is your favourite indicator and why ?

  • #41
  • Oct 9, 2006 10:25am Oct 9, 2006 10:25am
Quoting TheRumpledOne
Indicators are for suckers!

Trading is simple.

Just draw a horizontal line on the chart.

If the candle is green, go long at the line.

If the candle is red, go short at the line.

It IS that simple.

You only lose if you are too slow or too greedy!

Yes, I have written and posted hundreds of indicators on TradeStation, eSignal, yahoo, StockFetcher and Kreslik. I do that because I can program. I do it for free. I don't sell indicators. Some people want you to buy their indicators. To me, if the indicators were any good, they would use them to make money and give the code away for free just like I do!

I hate to see people pay for indicators and then lose money using those indicators.

Indicators are great for analyzing the market when the market is closed. But when the game is on, they just confuse you.

A horizontal line is simple.

I simple buy/sell at the x.xx00, x.xx25, x.xx50 and x.xx75 levels based on candle color. So long as I am not greedy and not slow, I make pips!

I use 1 min, 5 min, 60 min and daily charts.

It really is simple!!
OH YES! I couldn't agree more.
In the beginning I tried many indicators, but none made up to my expectations.
I make money trading forex without any indicators.
More people should try it.
Very nice to see that there are others trading and making money without any indicator. I just need to keep in mind not to get greedy! and work hard!
  • #42
  • Oct 9, 2006 10:30am Oct 9, 2006 10:30am
Forgive the dumb question, but what does this mean? (esp. in bold)


Quote
I simple buy/sell at the x.xx00, x.xx25, x.xx50 and x.xx75 levels based on candle color

are those percentages of something???


thanks,

ken
Is your SL my TP?
  • #43
  • Oct 9, 2006 10:36am Oct 9, 2006 10:36am
Quoting kenmania
Forgive the dumb question, but what does this mean? (esp. in bold)




are those percentages of something???


thanks,

ken
its rate
for example 1.2200,1.2225,1.2250,1.2275
  • #44
  • Oct 9, 2006 11:08am Oct 9, 2006 11:08am
Quoting Stan
Rumpled One,
Could you do us a BIG favor and post an example on charts exactly what you are talking about. I believe you, as I have been studying one system then another and I do believe it is as simple as you state. I would really appreciate it if you could show an example or two.
As you know, many if not all newbies bounce around like a ping pong ball and it is reallly not necessary with a simple system like this.
Thank you in advance,
Stan
Now the picture shows buy from 222.20
Attached Image
  • #45
  • Oct 9, 2006 11:15am Oct 9, 2006 11:15am
Quoting Stan
Rumpled One,
Could you do us a BIG favor and post an example on charts exactly what you are talking about. I believe you, as I have been studying one system then another and I do believe it is as simple as you state. I would really appreciate it if you could show an example or two.
As you know, many if not all newbies bounce around like a ping pong ball and it is reallly not necessary with a simple system like this.
Thank you in advance,
Stan
Now sell from 222.20
Attached Image
  • #46
  • Oct 9, 2006 11:18am Oct 9, 2006 11:18am
Quoting linuxtroll
Now sell from 222.20
I'm pretty sure he was referring to the two ending pairs of numbers, which means .20 would have no relevance to his system.
  • #47
  • Oct 9, 2006 12:14pm Oct 9, 2006 12:14pm
Quoting hidethereal
I'm pretty sure he was referring to the two ending pairs of numbers, which means .20 would have no relevance to his system.
What is pretty sure? xxx.20 is not similar to x.xx20? This is GBPJPY... xxx.20 is not relevence to the system?
  • #48
  • Oct 9, 2006 12:18pm Oct 9, 2006 12:18pm
Quoting linuxtroll
What is pretty sure? xxx.20 is not similar to x.xx20? This is GBPJPY... xxx.20 is not relevence to the system?
for GBP/JPY it would need to be x.00, x.25, x.50, x.75
  • #49
  • Oct 9, 2006 12:30pm Oct 9, 2006 12:30pm
Quoting hidethereal
for GBP/JPY it would need to be x.00, x.25, x.50, x.75
Here it is xxx.00, xxx.20, xxx.40, xxx.60 etc... risk is only 20 pips... in your series; risk is 25 pips...
  • #50
  • Oct 9, 2006 12:40pm Oct 9, 2006 12:40pm
Quoting linuxtroll
Here it is xxx.00, xxx.20, xxx.40, xxx.60 etc... risk is only 20 pips... in your series; risk is 25 pips...
The numbers originally chosen were picked because they are big psychological points in trading and they have significance with the large financial institutions.
  • #51
  • Oct 9, 2006 2:21pm Oct 9, 2006 2:21pm
00,20,50,80... floor trader levels

Quoting hidethereal
The numbers originally chosen were picked because they are big psychological points in trading and they have significance with the large financial institutions.
  • #52
  • Oct 9, 2006 2:24pm Oct 9, 2006 2:24pm
Quoting hidethereal
The numbers originally chosen were picked because they are big psychological points in trading and they have significance with the large financial institutions.
what about xxx.00, xxx.20; xxx.60; xxx.80 -- banks do not use them anymore? LoL
  • #53
  • Edited 2:38pm Oct 9, 2006 2:27pm | Edited 2:38pm
Quoting turbokaos
00,20,50,80... floor trader levels
Yes... Floor Trader's Pivots too...
  • #54
  • Oct 9, 2006 2:29pm Oct 9, 2006 2:29pm
Quoting linuxtroll
what about xxx.20; xxx.60; xxx.80 -- banks do not use them anymore? LoL
I was commenting on the system originally posted. I thought you misunderstood his method but apparently you are using a different method.
  • #55
  • Oct 9, 2006 2:45pm Oct 9, 2006 2:45pm
Quoting hidethereal
I was commenting on the system originally posted. I thought you misunderstood his method but apparently you are using a different method.
same method... different levels...
  • #56
  • Oct 9, 2006 2:47pm Oct 9, 2006 2:47pm
Thanks.
Quoting fx54xHRB
its rate
for example 1.2200,1.2225,1.2250,1.2275
Is your SL my TP?
  • #57
  • Oct 9, 2006 2:57pm Oct 9, 2006 2:57pm
Quoting linuxtroll
same method... different levels...
I see, my mistake.
  • #58
  • Oct 9, 2006 9:59pm Oct 9, 2006 9:59pm
Quoting TheRumpledOne
Hola from Cabo...

Just checking email, PMs, etc...

If you went long when the candle was green you could have exited with a profit because is crossed ABOVE the xxx.20 line.

Now if you did not take your profit that was your choice.

You would not have gone short on the green candle.

Even though I use .00, .25, .50 and .75, it does not matter.

ANY horizontal price level will work SO LONG AS you trade with the candle color at the time.

Adios
Absolutely TRO... Same date of births, using same candle colour method... but I also use my own MMAs to support high probability trades... at least use wma 5 and look for trades on that direction with candle colour...

Like barn leker best... LoL
  • #59
  • Oct 10, 2006 3:16am Oct 10, 2006 3:16am
Thank you RumpleOne for your simple method.

Now I know how to enter a trade, but how to exit? At the end of the bar? Do you mind tell us?



Quoting TheRumpledOne
Hola from Cabo...

Just checking email, PMs, etc...

If you went long when the candle was green you could have exited with a profit because is crossed ABOVE the xxx.20 line.

Now if you did not take your profit that was your choice.

You would not have gone short on the green candle.

Even though I use .00, .25, .50 and .75, it does not matter.

ANY horizontal price level will work SO LONG AS you trade with the candle color at the time.

Adios
  • #60
  • Oct 10, 2006 3:54pm Oct 10, 2006 3:54pm
Quoting hgus490
Thank you RumpleOne for your simple method.

Now I know how to enter a trade, but how to exit? At the end of the bar? Do you mind tell us?
I use multiple moving averages to exit... Bubble forming exit and reverse... investor group converges or trader group trying to collide with investor group indicates the choppy whipsaw area... Read and use Darryl Guppy's or Alan Hull's MMA... and you can easily spot trending and ranging markets - and trade accordingly... If you master MMAs; then you do not need any other indicators...
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