Know what you trade
Why do traders use so many indicators?
- #201
- Feb 18, 2020 5:46pm Feb 18, 2020 5:46pm
- Joined Jan 2020 | Status: Membership revoke | 2,332 Posts
Know what you trade
{quote} Hi there, just one question do you only know EA in forex with me the thought arises that you are married to it honestly there is nothing to trade sorry my english is shit {image}
Ah, let's here.... do I see anything that can be traded in the EURAUD...... hold on a second let me check:
Yep. I see Long. In fact, I've been seeing Long since Thursday, when I originally entered this Day Trade which eventually turned itself into a deeper Swing Trade with Friday's market behavior.
It is kind of like that movie "The Six Sense" when Cole "Sear" (Seer - get it) says: "I see dead people." Well, sort of in similar fashion (though I don't see dead people, that would be really bizarre), I tend to see Trades that others may have some temporary difficulty locating on their charts. Better yet, I see Deltas and Conditions. That's probably a much better way to put it, rather than seeing "dead people."
So, I realize that many don't see a trade here. That's cool. No worries. They will. Eventually, they all do. Given the way I see things, there are instances when I arrive at the unseen Swing Trade a bit earlier (see my original post about EURAUD where I say, "I might be a little early here" on purpose) than some. But, that's ok. As long as Market Structure remains in force for an upside rotation, I'm good with it.
{quote} Hi there, just one question do you only know EA in forex with me the thought arises that you are married to it honestly there is nothing to trade sorry my english is shit {image}
This is a different indicator than those you see in the Panel. This shows three prior weeks of lots of pent up frustration to get Short. That "get short" momentum started about two weeks ago and persisted until last Thursday.
However, there are old and large structural renovations in EURAUD that the market will need to take care of at some point. The older those structural renovations go without being dealt with the strong the propensity of the market to deal with them:
And, Kette. A few more smaller and newer B2i structural repairs the market will also be contending with:
Conventional Market Profiles show a lot of things. I've found that when I add my own Market Profile concept (RPD Profile) in conjunction with an older Market Structure concept of mine I created long ago (B2i), they show me where tension in the market might be lurking, hidden and unseen by the rest of the market. This is an example of that. Those Blue Lines are what I call "Fall Lines." They represent Targets in the Market under the condition that Market Momentum warrants a move in that direction. Typically, the bigger the B2i Structure and the further away the market gets from its Fall Line, the bigger the move in that direction when Market Momentum warrants it.
This is a great example for why having a multi-indicator approach, where different indicators provide unique and correlated information into a trade decision, can be very beneficial by providing enhanced vision during times of perceived nothingness in the market.
Conventional Market Profiles show a lot of things. I've found that when I add my own Market Profile concept (RPD Profile) in conjunction with an older Market Structure concept of mine I created long ago (B2i), they show me where tension in the market might be lurking, hidden and unseen by the rest of the market. This is an example of that. Those Blue Lines are what I call "Fall Lines." They represent Targets in the Market under the condition that Market Momentum warrants a move in that direction. Typically, the bigger the B2i Structure and the further away the market gets from its Fall Line, the bigger the move in that direction when Market Momentum warrants it.
This is a great example for why having a multi-indicator approach, where different indicators provide unique and correlated information into a trade decision, can be very beneficial by providing enhanced vision during times of perceived nothingness in the market.
- #209
- Feb 19, 2020 12:00am Feb 19, 2020 12:00am
10p my time. Calling it a day. I kind of like this chart view now. So, I'll make this my final update for today:
I have not seen what the Panel looks like so I can't tell you what it says. I just know what this chart looks like right now before I go to bed. It is naked chart trading time. Goodnight all.
Draw -36. Target 199. RR 5.52. Probability now 81.9%.
I have not seen what the Panel looks like so I can't tell you what it says. I just know what this chart looks like right now before I go to bed. It is naked chart trading time. Goodnight all.
Draw -36. Target 199. RR 5.52. Probability now 81.9%.
{quote} Sorry, I don't sell and I have no incentive or reason to do a T&E. Though they are cute. They can also be faked. How do you know I am not an employee of FF, or one of the many Bucket Shops that FF is used to market the services of a Bucket Shop. I am working on getting a YouTube live stream channel set-up. You are more than welcome to visit that live stream once its ready to go. You can then follow live trades in real-time without filtering.I have a thread the Moderators here at FF tossed in the "Trade Journal" section alerting...
J12
10p my time. Calling it a day. I kind of like this chart view now. So, I'll make this my final update for today: {image} I have not seen what the Panel looks like so I can't tell you what it says. I just know what this chart looks like right now before I go to bed. It is naked chart trading time. Goodnight all. Draw -36. Target 199. RR 5.52. Probability now 81.9%.
Hey buddy good morning. I hope price didn't kiss the "Ring of Poc".. (if that's Lord of the Rings slang for Stop Loss)
But I am pretty sure all those indicators must give you a good reason why price didn't go up on a 15 minute chart
Cheers
{quote} Hey buddy good morning. I hope price didn't kiss the "Ring of Poc".. (if that's Lord of the Rings slang for Stop Loss) But I am pretty sure all those indicators must give you a good reason why price didn't go up on a 15 minute chart
J12