Why do traders use so many indicators?
- #244
- Edited 3:56pm Feb 19, 2020 2:58pm | Edited 3:56pm
{quote} {image} {image} {image} {quote} No context. No need for a forum. Some people need a Twitter form of Forexfactory. So, to the Mods and Owners of FF. There is your great idea for 2020! Go establish a dedicated Twitter version of Forexfactory for those members who don't read, can't read or refuse to read beyond 65 character messages. Oh, crap! What am I saying! 65 characters is WAAAAAAAY too much for some people.Way too much. Geepers, man. It was sitting right there in front of you all along....
Why in the fucking hell would I read so much garbage from someone I don't know.. who clearly doesn't know what he is doing.. and who CAN'T provide a Trade Explorer with a longterm profitable account.
I love reading... The thing is I identify very easily when someone knows what hes talking about... or if someone just came off a mental institution.. I have been in this forum for too long to realize when there is someone with a HUGE EGO.. too many words.. but little action... This forum is filled with super genius people who talk as if they were Albert Einstein... but still can't hold a profitable account for more than 2 months...
At least I am honest to myself and say the truth about my trading. I have had good runs for many months.. but then I fucked it up. And I don't say this for you or anybody else.. Saying the truth is the best I can do for myself.. to keep learning and keep growing..
Fortunately, I have learned to take advices from REAL INVESTORS... and not crazy wannabe "TRADERS"...
Is that what you want right??? Congratz buddy!! you are a traderrrrrrr!! wuuhuuuuu!!!
- #245
- Feb 19, 2020 3:05pm Feb 19, 2020 3:05pm
- Joined Jan 2018 | Status: Trader | 17,298 Posts
{quote} Kinda like the British. "The British are Coming! The British are Coming!" Get it?Just having some fun, that's all.
Actually, Paul Revere, most likely never (ever) said that while riding his horse. From a purely historical standpoint, there were already British Constables living (being quartered) in the Colonies well before the real fighting began. So, the "British" were not "coming." They were already there and Paul, would have absolutely known this, making his famous night ride through Lexington,...
I act what I see
{quote} You are starting to read like a 12 year old child. Go READ in context what's been written, then go LOOK in relationship to EURAUD since the opening of the trade. Then come back and post something Troll-like and negative. Nobody here is talking about George Soros, except you. If these concepts are beyond you, then step the fuck away before making yourself look even more foolish. No sane person looks at what's been posted and then looks at the performance of EURAUD since inception of the trade (while others were sitting on their hands not...
So you want to take a $3000 account to 40 MILLONS in 12 months... and I am the 12 year child??? Do want to be an astronaut too? Lol..
Wait... Does this mean that I am talking to the future richest person in the world???
Hey.. please let me know when you start your "live streaming trading" or whatever that is..
Good luck.
Edit: Oh wait.. 12.9 months.. that 0.9 was the secret... now I understand.. Sorry, my mistake
{quote} I did not write anything about indicators, only buyers come I act what I see
Which buyers are you referring to?
There are several types of Market Participants and I'm not sure which you are calling out as coming. However, I think what you might be saying is that you only take action when you see buyers coming into the market.
That's good! That's not a bad thing. There is nothing wrong with waiting. But, once again - you will have to read the OP's request in the context of my trade. This is not a Trade Journal, I don't do those anymore. They are pointless to me now. I'm questing for a bigger challenges in my ongoing trading career. I've done journals in trading forums that no longer exist anymore, I've done so many in the past. Not my cup of tea at this point. I'm going to give the Live Streaming Challenge a try. That seems like a worthy challenge. Basically, challenging myself. That's really the only competition one has anyway, themselves.
This chart will show you where the buyers actually started coming into EURAUD relative to my trade:
1) Highlighted brilliant blue areas show red lines on top and green lines on bottom. Bears where flooding int EURAUD from Monday through Wed. Between Wednesday and Thursday, there was a shift that took place in one of the key green lines (highlighted in darker blue). That line supplanted its red line counterpart and the market's rate of decent began to slow from Thursday through Friday.
2) Notice the white line on the bottom of every M15 bar in the Indicator Window. Notice its Slope. Not only was there red line dissipation in the market, but it was accompanied by white line degradation during the same time frame last week. That white line is another form of Market Magnitude. So, while the market was falling from Wednesday through Friday, its Magnitude was degrading at the same time.
3) Notice that Friday through Today, the green lines have progressively increased their position and now sit atop the Indicator. Also, notice that the white line (another form of Market Magnitude) has shifted from a Negative reading to a Positive reading - meaning, there has been an overall and consecutive shift in Market Magnitude from Negative (Bearish) to Positive (Bullish).
This Indicator provides a lot more information on an Intra-Day basis as well. But, this is a Swing Trade and there is no need for me to analyze and explain the Intra-Day information this Indicator provides, though it is abundant with Intra-Day information. This (once again) answers the OP's question: Why do people put so many Indicators on their charts? This (this right here) is why.
Some of this output is also in the System's Panel. I could look at it this way, but I prefer it in the digital format the Panel provides. Visually, it is easier for me to glance at and know what to do at any given time.
I know you did not write anything about Indicators. I'm writing about Indicators because the OP wrote about Indicators. I'm just trying to comply with the law of the thread. Every thread has its own laws that govern it. Laws the OP provides. I'm just in compliance with stated Law.
I'm a Law Abiding Trader.
{quote} So you want to take a $3000 account to 40 MILLONS in 12 months... and I am the 12 year child??? Do want to be an astronaut too?
Sorry, my mistake
Here's the deal: Trading gets easier after you put in the blood, sweat and tears to make it easier - not a minute before. It is fucking hard work, making it "easier." I'm here trying to "keep it real" for the New Guys/Gals who are lurking (I see you!) and who desperately need to understand that their hard work, their smart work, their sacrifice, their commitment, their innate creative talent, passion, motivation, drive, ambition and desire to reach and remain on the other side of this Business - is not in vein -- as long as they don't punk out and quit before crossing the finish line.
That is why I even bother coming here, my dear friend. I had NO ONE to help me at the start. I had to design Tools on my own. I then found a Mentor. His name was George Fontanills. He taught me how to trade Equity Options and how to be creative at solving the problem of Risk Management. The rest is history. George, is not with us anymore as he passed away. However, his legacy will live on through those who learned what he had to teach and who figured out how to apply it.
I come from a different era then you in this business. I come from a different society and a different generation than yours. One that was more respectful than yours. One that understood the value of Experience, more so than yours. One, quite frankly, that was more intuitive than yours. I can read your prose and tell you did not come from my Generation or the Society in which I developed as a Trader.
No. Please don't apologize because you can't help yourself and I understand that. However, you can see this Trade developing right before your own eyes. There's no magic here. No pulled punches here. No wavering here. Just a straight forward Swing Trade with nothing to hide but the smile on my face as haters and naysayers ask:
How the hell did he do that! That pair was going nowhere and then suddenly it emerges as a Swing Trade. Nah, that's gambling. You can't know anything that far in advance of the market. This guy is a serious gambler. That's all. Just gambling.
- #253
- Edited 8:07pm Feb 19, 2020 6:04pm | Edited 8:07pm
{quote} I'm actually a Test Pilot (among other things), but that was a past professional life and not relevant on a Trading Forum. {quote} No need to apologize. I understand where you are coming from. Its hard to see something like this when all the internet sells you are empty suit EAs that don't provide half the profit they claim. Then, when I say this is not for sale and will never be for sale, it all seems a bit surreal. No, I get it - I really do. You've been inundated with bullshit over the years and off-the-shelf Indicators that have mysterious...
Oh no buddy, please don't get confused.. I am not a hater.. I was just having fun
Now lets get serious and lets get back to the main topic of this thread, which is.. "Why do traders use so many indicators?".. So since you are a PRO indicator user, I would like to ask you:
Why do you think indicators work?? But before you answer I would like to add something onto this question.. (before I start, please do understand that english is not my mother language.. so I'll try my best to explain how I think)
We all know how HUGE Forex market is. In fact, it is the biggest market of all.. In this forum I have read many times about the famous "market makers".. But in my humble opinion I believe this people don't really understand what they are saying.. The Forex market fluctuates from a massive amout of macro and micro information interconnected around the world that translate into currency being exchanged in the market..
What I mean about info is:
People around the world who might think the price of a currency is too high might start exchanging this overvaluated currency for another that is supposed to be undervaluated, but for this they would do analysis of many different factors to get a conclusion.. (so we have many indicators for this.. Stochastic.. RSI.. MACD, etc etc etc)
People speculating with politics, economy, interest rates, debts, inflation, different monetary policys around the globe.. We have money fluctuating depending on natural disasters, worldwide diseases (like the famous pandemic Coronavirus).. WARS... Oil export-import, Gold export-import attached very strongly to many currencies... Petrodollars, PetroRubles, PetroYuans..
Then of course, we can't forget about emotions.. Fears.. Greediness, etc..
And to keep on adding, we have the biggest financial institutions in charge of money flow.. like the Bank for International Settlements (banks of the banks).. IMF, World Bank, and all the Central Banks around the world...
All of this things and much MORE (that I will not add cuz it will take me a long time).. Interconnected in this HUGE mass of money fluctuating in the market...
Going up and down.... Supply and demand..
Again my question to you is.... What is it in indicators that makes you think... you can actually predict THE NEXT MOVE??? (meaning, predicting the exact point of a price moving to a certain direction, giving you an exact price for Stop Loss and exact price for Take Profit)
- #256
- Feb 19, 2020 7:29pm Feb 19, 2020 7:29pm
- Joined Jan 2020 | Status: Membership revoke | 2,332 Posts
Know what you trade
- #257
- Feb 19, 2020 7:34pm Feb 19, 2020 7:34pm
- Joined Jan 2020 | Status: Membership revoke | 2,332 Posts
No one here has been able to produce any trade that I could not already see without any indicators at all. I have a lot of respect for anyone who trades, period....
Hats off to JetTrader for his time to put up this live streaming video.
Know what you trade
Man you guys are really starting to miss the whole point of this thread. Originally this thread was meant to post trades and discuss whether indicator based strategies are actually even needed to enter said trade.
Update:
I have shifted to your side of the fence, VIP. I've now swung all the way back to where you were at the start: No Indicators. There's a blank chart with a trade running. No Indicators and therefore, nothing to say about them in my update. I guess we'll just observe pictures from this point forward, unless something dramatic happens like a real Black Swan or something delectable like that.
Draw 0. Urealized Profit +79. Target 199. RR 199. Probability 99.9%.