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What is your favourite indicator and why ?

  • #101
  • Oct 16, 2006 3:00am Oct 16, 2006 3:00am
Also,

Con you post that RSI/EMA cross indicator???

Thanks Again!!!

Bago
"Skills pay the bill's!"
  • #102
  • Edited 4:17am Oct 16, 2006 3:13am | Edited 4:17am
Bago,

It's just an 8p lwma on an 8p rsi- The fibo/pivo indicator below

Quoting bagovino
Also,

Con you post that RSI/EMA cross indicator???

Thanks Again!!!

Bago
Attached File(s)
File Type: mq4 FiboPiv_v2.mq4   5 KB | 503 downloads
Trade what you see - Not what you think
  • #103
  • Oct 16, 2006 4:22am Oct 16, 2006 4:22am
hello TheRumpledOne,

i think your method is very interesting.

can you please tell me what is the take profit and stop loss you use?

one 1hour chart for example.

thank you.




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!!
  • #104
  • Oct 16, 2006 5:01am Oct 16, 2006 5:01am
Quoting summitfx
Gotta love the EUR/JPY for baggin' pips tonight- must be quick and nimble
Hi SummitFX,

Thanks for all your valueable inputs and these easy and simple, yet very effective methods.

I am new to FX and learning from experts like yourself, Rumpledone and others.

Could you please attach your RSI(8)/MA(8) custom indicator.

Do you have a fixed stop/loss that you use and do you enter a trade at the crossover or when the RSI curves up/down?

Thanks.
  • #105
  • Oct 16, 2006 5:14am Oct 16, 2006 5:14am
Read this article: The Ultimate Chance (http://en.wikibooks.org/wiki/The_Ultimate_Chance#example:_The_Ultimate_Trader_0)

Cheers,
  • #106
  • Oct 16, 2006 5:23am Oct 16, 2006 5:23am
Quoting linuxtroll
Read this article: The Ultimate Chance (http://en.wikibooks.org/wiki/The_Ultimate_Chance#example:_The_Ultimate_Trader_0)

Cheers,
Very interesting. Thanks.
  • #107
  • Oct 17, 2006 1:26am Oct 17, 2006 1:26am
Quoting TheRumpledOne
If you use TradeStation, you can use my NORMALIZER indicator to plot the ema(8) and ma(8) in the same subgraph.
I use MT4 with FXDD. Will it work on it? Thanks.
  • #108
  • Oct 17, 2006 1:33am Oct 17, 2006 1:33am
Quoting summitfx
As a full-time trader (8 years), I was trained as a COES Bandit. This invloved sniper trading. We basically traded high flying stocks like AOL in the late ninties and used the futures (Spooz and Nooz) to determine the entry points. Trades would last anywhere form 30 seconds to 15 minutes. It was rapid fire in and out. At the end of the trading day you were totally exhausted and hopefully in the green. Today, I still have the need to "push" the button and make the trade. I also have an account that I trade only daily and 4 hour charts (swing trades) Through various methodologies on the FF, I have settled into a profitable scalp trade routine. My favorite session is pre London session (12pm mtn time) and the London session (1am). It's a very simple trigger of lines crossing lines. I turn off all monitors but 1 and focus soley on the enlarged chart and block out all noise. I don't care about others opinions of where they think the currency is headed etc. Focus and react. If you use 2 lots or $20 pip profits, you only need 5-10 pips to make $100-$200 per trade. It's rapid fire and you only take the trades on the cross. As you get better, you can filter out trades and only go with the prevailing trend etc.. On a decent day, I can easily make $500-1000 per day with very little effort. Below is the chart. Candlesticks with an 8p RSI and 8MA in one window. It's self explanatory but it's fun and profitable. Sweep your profits into longer term trades that suits you best. Here it is- feel free to give it a go~
Question on your entry.
Do you enter the moment the EMA's cross or do you wait until the candle closes or what.
Why I ask, is often times if one is merely waiting for the EMA's to cross, it is only a momentary cross and it will then stay on the one side of the EMA.
Thank's for your input, this is great!
Stan
  • #109
  • Oct 17, 2006 1:39am Oct 17, 2006 1:39am
Is anyone here know how to read the Silver Trend Signal?
Thanks!!
  • #110
  • Oct 17, 2006 1:52am Oct 17, 2006 1:52am
Hey RumpledOne

how do you know which way the swap will go??

you say you buy/sell and if the trade goes the wrong way you keep it for days/weeks/months and make money from the interest/swap.

how do you know the swap will go that way for months etc?
  • #111
  • Oct 17, 2006 2:44am Oct 17, 2006 2:44am
Mine is the flip of a quarter; heads, go short, tails, go long.

Less stress.
  • #112
  • Oct 17, 2006 12:56pm Oct 17, 2006 12:56pm
Quoting c1ro
Is anyone here know how to read the Silver Trend Signal?
Thanks!!
This is a hi -lo indicator. It gives a signal based on historic highs and lows within its lookback period and rather like the zig zag tries to predict the future. It's not more than 50% accurate and, you can't trade on the basis of it alone. It must be used with other indicators like in the Tlatomi method. I use it in conjunction with the cross of an 8 period Triple Hull RSI. If the RSI crosses the signal line, trade. If it doesn't, the Silver Trend is wrong and will repaint itself to another position or disappear altogether.
  • #113
  • Oct 17, 2006 6:07pm Oct 17, 2006 6:07pm
I believe that one of the main points that TRO is driving home here is to trade in the direction of one hour candle that is moving through the x.xx## price, period. The 1 and 5 min charts for exits....it's just a feeling of weakness in the markets. Leverage Leverage Leverage...3 pips can be $3, $6,...$30......$300....Is it scalping, yeah maybe but if it works then go ahead and rip the market a new one. I'm looking at it too folks.
  • #114
  • Oct 17, 2006 6:16pm Oct 17, 2006 6:16pm
Long Green or Red Candles usually means more upside or downside.
I'm only a bird in a gilded cage
  • #115
  • Oct 17, 2006 6:21pm Oct 17, 2006 6:21pm
Is Economic News, that produces much volatility, those pips come fast and easy.
I'm only a bird in a gilded cage
  • #116
  • Oct 17, 2006 6:34pm Oct 17, 2006 6:34pm
TRO:

Do you only go long on the EURUSD and only short on the GBPUSD???
  • #117
  • Edited Oct 26, 2006 12:57am Oct 17, 2006 6:49pm | Edited Oct 26, 2006 12:57am
Hi, C1ro:
You may want to visit: [link removed. user under 50 posts]
Using the Search function of their menu bar, do a lookup of, "Silver Trend Signal". You will find a long list of threads that discuss the indicator and its relatives (and it's got a bunch). Be mindful of the dates, you sometimes can save a lot to time by looking at the more recent threads first.
  • #118
  • Oct 17, 2006 6:55pm Oct 17, 2006 6:55pm
  •  Carlos
  • | Joined Sep 2005 | Status: Commitment, planning and discipline | 65 Posts
MACD... but i prefer certain charting tools such as fibs, pivots and TL's.

Happy trading
  • #119
  • Oct 17, 2006 7:27pm Oct 17, 2006 7:27pm
Favorite indicator... call it an indicator if you like, but time squaring price.

a rogue trader
  • #120
  • Oct 17, 2006 7:47pm Oct 17, 2006 7:47pm
Hello all, first post here.

I agree to keep it simple. I use a chart and a 60 SMA. I sometimes also use RSI to help time trades. It's real simple. When the spot price has moved far from the 60 SMA quess what?... That's right it moves back.

For example pull up a 5 minute chart for any pair. If you see the the price move far away it's going to come back. It takes practice to know when it works best.

I only trade the EUR/JPY because it tends to have it's own nice moves with no direct connection with the dollar. My broker also offers 1 pip spread at most times so that helps too.

I have been looking into the horizontal line only method but need to understand it more before using it. Sounds great though. I believe once you make this market difficult you've lost.

Thanks
-Eco
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