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Why do traders use so many indicators?

  • #381
  • Feb 20, 2020 3:58pm Feb 20, 2020 3:58pm
Quoting TimeTells
{quote} Hi BW, Mate I do not trade naked charts. I have made two trade related posts on this thread. Both this morning (in Oz that is). Posting is something I haven't done for yonks, but it was good for me to see my friends Moody & Bluey on here. I avoid all threads (bar the music one) these days for my sanity & safety lol (another friend Dave from Florida will understand best lol) So those 2 posts this morning pretty much explain what I do (my training wheels). I do not use a SPECIFIC Maths based formula for trading. I am a visual trader. I see...
Well said Pete... Aussie has rocked up to voice an opinion.. always welcome, unless one disagrees with him, then he bans people from his thread. And the time I bothered to look, yep, I was banned
  • #382
  • Feb 20, 2020 4:00pm Feb 20, 2020 4:00pm
Quoting JetTrader
{quote} This is the problem. When I see something like this, it becomes clear to me that some people just have a really hard time understanding the Purpose and Use of an Indicator. Since when was it ever the job of an Indicator to attract Price. That's just a classic giveaway that there is a fundamental misunderstanding about what an Indicator is designed to accomplish. No. Indicators are not there to "attract price." Indicators are designed to provide the Trader with information about Market Behavior. Indicators have absolutely zero to do with...
I fully understand the concept regards indicators, thank you.
  • #383
  • Feb 20, 2020 4:07pm Feb 20, 2020 4:07pm
Quoting Aussi
{quote} george was a loser trying to fake 100% wins he said i have never lost a trade in a video and you guys fell for it
Hi Aussie

I am pretty sure George stated clearly this was based on his form of basket entries on the same pair (including hedging). Not a single individual trade entry.

I watched it personally with George for over 3 months on Skype.

Many people, like yourself Aussi, came to think I guess that it meant George was just doing an eeny-meeny-miney-mo type of trade entry, out of the blue, on any pair, at any time of the day, for his success rate.

This could not have been further from the truth.

In fact it was hard for me as an excitable lad to sit and watch & wait for George to initialise a trade.

And then wait, and wait. AND wait. And then wait some more, for George to pull the trigger. He did this when price moved into his playground.

Not my style of waiting/trading as it turned out, patience-wise.

And I have paid for it in instances, and in other instances I've employed rescue missions (read 5 years ago by FTI, as I remember) to return my trade to BE, then profit & more extra sometimes.

These days I am far more selective. Yesterday 5 trades only (3 in a single pair basket) in at 9:30 (edit) chart time and done by 11:45 (edit) chart time. Take my small profits and then I do something else.

I understand your scepticism, but I was there watching George trade it. This was about 10 months ago.

I see some of your trades on the threads occasionally. Some I cringe at your entry point, sorry (currencies not metals). Then you work out of them to a sweet profit. Good fortunes to you.

But re George I believe you are not only speaking out of turn, but about something you have never seen him do. IMO.

All the best to you though.
Pete
  • #384
  • Feb 20, 2020 4:14pm Feb 20, 2020 4:14pm
Quoting TimeTells
{quote} Hi Aussie I am pretty sure George stated clearly this was based on his form of basket entries on the same pair (including hedging). Not a single individual trade entry. I watched it personally with George for over 3 months on Skype. Many people, like yourself Aussi, came to think I guess that it meant George was just doing an eeny-meeny-miney-mo type of trade entry, out of the blue, on any pair, at any time of the day, for his success rate. This could not have been further from the truth. In fact it was hard for me as an excitable lad to...
Same Pete. Aussie has no clue regards the way George played out his trades.. man, does George have patience.. Took me a year to get into that frame of mind.
  • #385
  • Feb 20, 2020 4:18pm Feb 20, 2020 4:18pm
Quoting TimeTells
{quote} Spot on Moody, and yes George would have been watching this for weeks. {image}
I can't imagine he waited years to watch this happen, he must have great patience - that's a virtue. If anyone wait long enough anything and everything will happen.
Know what you trade
  • #386
  • Feb 20, 2020 4:19pm Feb 20, 2020 4:19pm
New Traders:

I feel so sorry for you. I really do. You have reams of nonsense to wade through before you come to the truth about Trading and threads like these really do you a disservice for a number of vary different reasons. But, the number one reason is Hardened Ignorance.

You take someone who has never designed an Indicator from scratch, never technically vetted it, never implemented it into their own trading and most certainly never actually used it to grow capital and you end up with a threads just like this.

You take those same people who failed (time after time) to build a bespoke indicator of their own, or who likewise have failed to learn how to effectively use one that already exists, put them in a room together and them watch them feed off each others failure. It is a form of Psychological torture for them, but they don't understand that they are the tools and the inputs to their own breakdown.

As a New Trader you are told by these failing people to stay away from those spooky Indicators. That's Black Magic and Black Box stuff that just has no place in "real" Trading. Yet, not one of them has ever grown a more than 8 figure account in their entire life as a Trader. New Guys, go take a look at this man and what he did with his own Bespoke Indicators:

Inserted Video


So, when you encounter people on this or any other Trading Forum, proclaiming that "Indicators" don't work, or that your brain can maintain the same rate of internal calculation that an "Indicator" can, or that a line you hand drew on a chart is the same thing as an internally calculating "Indicator," etc., just consider the source and ask yourselves: Are these people managing substantial account sizes?
  • #387
  • Feb 20, 2020 4:24pm Feb 20, 2020 4:24pm
Quoting TimeTells
{quote} Spot on Moody. The TARGETS I mention are NOT pivot targets. They are as Moody explained.....
If you can demonstrate targets on a chart then it might be meaningful. Else it's just another TERM for support resistance or supply demand.
Know what you trade
  • #388
  • Feb 20, 2020 4:33pm Feb 20, 2020 4:33pm
Quoting BWilliam
{quote} I can't imagine he waited years to watch this happen, he must have great patience. If anyone wait long enough anything and everything will happen.
Crikey BW,

That is twice now you have commented on my posts (which I get an email about).

And both times you have failed to either read fully (or comprehend) what I have written. If this is my fault I apologise.


Here is what you 'quoted" from my post
Spot on Moody, and yes George would have been watching this for weeks.

How you got years is only for you to understand.

Again, with academics and maths based approaches you can see the trees. (and maybe the woods lol). But at other times you fail to see the obvious.

If a target has been (hand) drawn on your chart. And updated daily with some more added and others removed, then it is WHEN price approaches those areas from a full page chart screen view that they are 'watched".

I trade the 15m charts (with entries on the 1m chart to extract an extra 3-5 pip entry point that I cannot see on the 15m chart - these extra 3-5 pips assist my scalp trading profits which is pretty much what I do - AND why I am interested in this thread where POSITION trading examples are taking place - not swing as is mentioned - these long term trades are position trades regardless of whether they were initiated with that type of trade in mind).

So these targets that have been sitting there YES will at some day or point in the future be taken out.


quote: If anyone wait long enough anything and everything will happen

Where I disagree with you there, if I may assume, is that you think it will be a random take out.

I believe that is furthest from the reality of these algo driven markets. They are specific targets that are 'targeted' for a reason. Try and think why they MIGHT be targeting and who (institutions, hedge funds) might have their stops there thinking "hey this is a safe place to put our institutional stops".

IMHO the algo targets the biggest players, yes, NOT the smallest retail targets that get swept up in the moves.


But just my opinion. In the end it doesn't matter. Trade as you see best.
Pete
  • #389
  • Feb 20, 2020 4:37pm Feb 20, 2020 4:37pm
Quoting BWilliam
{quote} If you can demonstrate targets on a chart then it might be meaningful. Else it's just another TERM for support resistance or supply demand.
Yes it is just another term.

IMHO the correct term is not S&R. But does it matter, maybe not.

However, the S&R CONCEPT is imo the VERY thing that confuses and hampers the new trader in their quest to enhance their own lives with some extra cash made in the toughest of war zone trading, the FX market.

I will engage no more, sorry BW.

There is no ONE answer to your questions which, in my experience at 68 years of age now, can only lead to one more question

all the best
Pete
  • #390
  • Feb 20, 2020 4:40pm Feb 20, 2020 4:40pm
Quoting TimeTells
How you got years is only for you to understand.
The target is identified in 2017 kept it archived together with the rest of the identified targets. That's 3years ago. Imagine the archive list of targets built over the years.

Yes the watching might be a few weeks. But the target exist 3years ago. That's 3years of waiting for price to approach the target.
Know what you trade
  • #391
  • Feb 20, 2020 4:42pm Feb 20, 2020 4:42pm
Quoting moodybot
{quote} Really? Then you can explain the targets and why price heads to it like an Aussie at a honey hole. Just the targets Aussie explain why George’s take on targets is wrong. Remember Aussie, focus on the targets. Prove George wrong. If you do, I’ll follow your threads implicitly.
not saying anything about target moodypiswek not interest in you joining my thread , you dont get it ANY TRADER SAYS THEY HAVE 100% WINS is a liar in my books and to say it in a video well i said it all
people leave, but this thread will go on for ever
  • #392
  • Feb 20, 2020 4:45pm Feb 20, 2020 4:45pm
Quoting TimeTells
{quote} Hi Aussie I am pretty sure George stated clearly this was based on his form of basket entries on the same pair (including hedging). Not a single individual trade entry. I watched it personally with George for over 3 months on Skype. Many people, like yourself Aussi, came to think I guess that it meant George was just doing an eeny-meeny-miney-mo type of trade entry, out of the blue, on any pair, at any time of the day, for his success rate. This could not have been further from the truth. In fact it was hard for me as an excitable lad to...
i have no argument with how he trades mate , if it works for him thats how it should be and people learning well thats good ,
people leave, but this thread will go on for ever
  • #393
  • Feb 20, 2020 4:46pm Feb 20, 2020 4:46pm
Quoting Aussi
ANY TRADER SAYS THEY HAVE 100% WINS is a liar in my books and to say it in a video well i said it all
That has to be the tallest claim of them all - 100% WINS.
Know what you trade
  • #394
  • Feb 20, 2020 4:48pm Feb 20, 2020 4:48pm
Quoting BWilliam
{quote} That's 3years of waiting for price to approach the target.

I have to rest my case BW. Your own particular maths & academia is out of my league. I fail to understand your point.


BW, Christmas is coming in 10 months.

I know this, it is on my calendar.


Do I get up each morning and 'wait" for Christmas to come. NO.


Do I start checking the calendar again in December to see if the date is still valid. YES. ( else I might forget to buy my sister, bless her, a present lol ).

all the best
Pete
  • #395
  • Feb 20, 2020 4:51pm Feb 20, 2020 4:51pm
Quoting BWilliam
{quote} That has to be the tallest claim of them all - 100% WINS.
yes mate even i cant get 100% wins my broker would stop my accounts
people leave, but this thread will go on for ever
  • #396
  • Feb 20, 2020 4:53pm Feb 20, 2020 4:53pm
Quoting TimeTells
{quote} I have to rest my case BW. Your own particular maths & academia is out of my league. I fail to understand your point. BW, Christmas is coming in 10 months. I know this, it is on my calendar. Do I get up each morning and 'wait" for Christmas to come. NO. Do I start checking the calendar again in December to see if the date is still valid. YES. ( else I might forget to buy my sister, bless her, a present lol ). all the best Pete
Are you now suggesting that you know the time when price approaches identified targets in archive ?

You have to regularly check current price against archived targets, am I wrong ? Unless you also know the time that price hits target. That's a fantastic feat.
Know what you trade
  • #397
  • Feb 20, 2020 4:53pm Feb 20, 2020 4:53pm
Quoting Aussi
{quote} not saying anything about target moodypiswek not interest in you joining my thread , you dont get it ANY TRADER SAYS THEY HAVE 100% WINS is a liar in my books and to say it in a video well i said it all
Oh dear, name calling. Debate lost.. wipe the spittle off.
  • #398
  • Feb 20, 2020 4:54pm Feb 20, 2020 4:54pm
Quoting BWilliam
{quote} Are you now suggesting that you know the time when price approaches identified targets in archive ? You have to regularly check current price against archived targets, am I wrong ? Unless you also know the time that price hits target. That's a fantastic feat.
Mark the targets, trade them as they get taken out.
  • #399
  • Feb 20, 2020 4:56pm Feb 20, 2020 4:56pm
Quoting moodybot
{quote} Mark the targets, trade them as they get taken out.
Can you demonstrate targets on a chart ?

I asked the same from TimeTells
Know what you trade
  • #400
  • Feb 20, 2020 5:00pm Feb 20, 2020 5:00pm
Quoting BWilliam
{quote} Can you demonstrate targets on a chart ? I asked the same from TimeTells
I have, Georges thread.
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