Why do traders use so many indicators? | Page 24 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

How many parameters are too many? 0 replies

Why do so many people use MT4? 55 replies

Why so many indicators, oscillators, and tools on charts 131 replies

What indicators do Hedge Funds use or do they even use one? 12 replies

How many pairs is considered too many? 8 replies

Attachments: Why do traders use so many indicators?
Exit Attachments

Why do traders use so many indicators?

  • #461
  • Feb 21, 2020 2:42am Feb 21, 2020 2:42am
Forgot.

Final Update: EURUSD Results

Attached Image (click to enlarge)
Click to Enlarge Name: Final Update EURUSD.png Size: 86 KB


Attached Image (click to enlarge)
Click to Enlarge Name: Journal EURUSD.png Size: 10 KB


Yet, another pair that you claimed you had no guidance on with your "Naked Chart" analysis. Ergo, you were not going to trade it. That's fine. Just admit that next time. This trade was "complicated" but discernible with the appropriate set of Indicators. It was and is a highly volatile trade with still a ton of Short side pressure. That's why it is popping like popcorn right now to the upside.

You've now witnessed this Trading Tech do three (3) entirely different types of trades:

- Mid Range Hunter (GBPCHF)
- Scalp (EURUSD)
- Long Range Bombing Mission (EURAUD)

All of three of those trade types had:

Time
Direction
Magnitude
Probability

If you are trying to trade without these things, then you might as well not be trading at all.

Each one of those trades had a different Controlling Time Frame that governed its immediate Market Structure. It is up to you to figure out why - if you ever want to step up to this level of precision trading. I've been doing these kinds of trade online for year, VIP. People wonder how then and they wonder how now. Precision Matters. It solves a lot of problems over the course of a trading career.
Good night and enjoy the rest of your thread.
  • #462
  • Edited 3:33am Feb 21, 2020 2:45am | Edited 3:33am
Quoting Mingary
{quote} Hello there, Ok, so taking what you are saying at face value.... When you trade off your indicators, to what extent are your decisions discretionary ?
I'll attempt to answer your question, hopefully you will show me the same respect and answer my original question. The reason I push for that info is that so much misinformation is regurgitated over and over until it is embraced as fact and is quite detrimental to a new trader.

It is hard to quantify the extent of discretion that I use when an alert is generated as the system is specifically designed around my unique needs and trading style. I've removed as much subjectivity as I can while still retaining the functionality, but different market conditions simply require a little more "involvement" after the alert. This morning the GBPAUD/GBPNZD buys after Asia open were about as close as it gets for a "no involvement" trade. It simply is a tool for me to be able to monitor multiple pairs day in and day out without losing my mind with chart overload.
  • #463
  • Feb 21, 2020 2:46am Feb 21, 2020 2:46am
Quoting JetTrader
Final Update: Results {image} That is what a true "Naked" chart looks like, VIP. Completely blank and precisely because the original Target has been struck: {image} Like a ballistic missile striking its target from 7,000 miles away. Entered on the 13th. Target struck on the 21st. Textbook Swing Trade when you were lamenting about the only place you could see yourself being was on the Short side. This is why I use those completely useless Indicators. This completely annihilates the unfounded and completely incorrect assumption that you were able...

Fantastic, can you post up your indicators. Would like to evaluate them.
Cheers.
  • #464
  • Feb 21, 2020 2:47am Feb 21, 2020 2:47am
Quoting JetTrader
Final Update: Results {image} That is what a true "Naked" chart looks like, VIP. Completely blank and precisely because the original Target has been struck: {image} Like a ballistic missile striking its target from 7,000 miles away. Entered on the 13th. Target struck on the 21st. Textbook Swing Trade when you were lamenting about the only place you could see yourself being was on the Short side. This is why I use those completely useless Indicators. This completely annihilates the unfounded and completely incorrect assumption that you were able...
This is an update of how the EA market performed few days later compared against the math formula calculation that indicated a long bias.
https://www.forexfactory.com/showthr...9#post12756159

Naked chart traders can post their comments how they analyse the EA market for comparison, human brain vs math.
Attached Image (click to enlarge)
Click to Enlarge Name: ea1.png Size: 18 KB
Know what you trade
  • #465
  • Feb 21, 2020 2:48am Feb 21, 2020 2:48am
Quoting Wanderer272
{quote} No, no, no, You are starting to misbehave again. This type of insult is unasked for, regardless of the circumstance. Respect thy fellow human being. Please.

When he shows some respect then he'll get it in return. He's not allowed to disrespect and then get what he does not make available in return. You have to bring something in order to expect something. And, being irrationally expectant is the clear sign of a Fool. Harbor Fools if you will. He's been nothing but insulting the entire time. Read the thread to know how. He's no saint here. He's disguised his true intent. I merely showed that disguise so that New Traders don't get blindsided by his illogical nonsense.
  • #466
  • Feb 21, 2020 3:01am Feb 21, 2020 3:01am
Quoting moodybot
{quote} Fantastic, can you post up your indicators. Would like to evaluate them. Cheers.

Even if you had the System sitting on your hard drive right now, you don't have the Edits I've made, nor do you have the System Configurations. Even the Alpha Configuration is not the same as it was when I first created it months ago. So, you could be looking at the System on your MT4 screen right now and still not be able to do anything with it until you got the Fixes and the Configurations. Then, I'd have to train you how to use it.

Given the attitudes in this forum, it will snow in hell before I do that. No. I did not come here for that. I came here because the OP was entirely misleading and because I was once a New Trader, too! New Traders need to know that their work or their potential creative work on their own new Indicators is not in vein, if they are willing to commit and finish their work.

There are tons of people on the fringes of this business who claim they are committed and claim they can finish, but who don't. For them, the gallows of trading ghosts of times past. Those who remain; those who persevere, those are the ones who Master the Craft. Not the unwilling commitment of a feigning desire, but the sincere will to commit in spite of the challenges is what brings ultimate success in this business.

There are too many fakers in this business and I've watched that side of the business grow geometrically since I first got involved and it is sickening to watch New Traders have to swim through all that bullshit before they reach the other side. What a shame. What a scam.

I am so pissed by this that I am incredibly tempted to launch a Free Trading University for Sincere Minded People, who just want a chance to do better in life for themselves and their families. I'm really sick of the bullshit I see floating around out there as "real" Trading.

I am tempted. I am so very tempted. But, I've got other work to accomplish - other goals in mind.

What a shame. It is what it is.
  • #467
  • Feb 21, 2020 3:15am Feb 21, 2020 3:15am
Quoting JetTrader
{quote} Even if you had the System sitting on your hard drive right now, you don't have the Edits I've made, nor do you have the System Configurations. Even the Alpha Configuration is not the same as it was when I first created it months ago. So, you could be looking at the System on your MT4 screen right now and still not be able to do anything with it until you got the Fixes and the Configurations. Then, I'd have to train you how to use it. Given the attitudes in this forum, it will snow in hell before I do that. No. I did not come here for that....
That’s fine, my line drawn on EURUSD is all I needed, it’s pretty close to my profit target having blasted off from a definitive level predicted earlier. Thought I would ask as at the moment I would suggest you’re angling towards a commercial based product... steering people towards a video channel usually ends up ‘with extra’s..but we shall see.
  • #468
  • Feb 21, 2020 3:24am Feb 21, 2020 3:24am
Quoting BWilliam
Naked chart traders can post their comments how they analyse the EA market for comparison, human brain vs math.
I think it is pointless anymore. Trading Forums are not what they used to be. My attitude form this point forward is, let them eat crow.

In the meantime, somebody has got to establish a New Traders Orientation Forum. You can approach the business from the Fundamental side, or the Technical side, but no matter what side you approach it from, the New Trader needs a rock solid Knowledge Foundation and you are just not going to get that with all the "noise" on these public boards anymore.

The truth is that 1 out of 100 are going to make it to the point of knowing how to preserve capital. And, I may be quite generous in that ratio. It could be worse than that - much worse. New Traders need an accurate point of entry into the business. They need something that properly sets the tone and tenor for the rest of their education. They need a fundamental understanding of:

Timing
Direction
Magnitude
Probability

And, they need to get there in a way that is palpable, digestible and true. These are the four (4) fundamentals that make Risk Management and Money Management possible. There is no risk to manage without these four things and there is certainly no money to manage without these four things. The problem is that you come to these Trading "Communities" and you are promptly introduced to the devil in disguise feigning to be a real Trader. You then spend countless hours going down a rabbit hole and never reaching bottom.

You are never introduced to these four (4) absolutely required principles. There is no such thing as a successful trade outside of these four (4) giants. They have to be dealt with one way or another and the New Trader, needs to make these things their sole and primary focus at the very start of their career. This will save them a ton of headache and heartache at the end of the day.

But, who is going to teach these principles to New Traders.

I feel like such a weight on my shoulders. I just don't want that calling right now in my life. I've got other things to get done and I'm only one guy. Maybe I could teach someone how to teach others, I don't know what the answer is, but I know for a fact that New Traders are getting screwed on these Public Forums. There is no Structured Approach to learning these fundamentals.

Heck, when you look at what's being taught at many of these "Trading Schools" and "Trade Mentoring Programs," there is never (ever) any discussion about:

Timing
Direction
Magnitude
Probability

It blows my mind that you could call yourself a Teacher of Trading and yet, not lead the Student into the most influential priorities of any truly successful Trader. Its highly irritating to watch unfold, but again, this is the way of the world.

I'm done here.
  • #469
  • Feb 21, 2020 3:29am Feb 21, 2020 3:29am
Quoting moodybot
Thought I would ask as at the moment I would suggest you’re angling towards a commercial based product... steering people towards a video channel usually ends up ‘with extra’s..but we shall see.
That's because you see things that are not there and you call yourself being funny and cute. You are neither funny, nor are you cute. If you knew how to read, then you would have already seen the thread, read it and know exactly what was going on. Instead, you did what this thread does. You drop some unfounded bullshit and then pretend as if your just trying to be cool.

The live stream is get away from places like this where little to nothing is being shown that actually helps anybody New to the business. At least a New Trader can look over the shoulder of a more experienced Trader and see what goes on at the right edge of the chart on a daily basis. But, reading that on your own was too much for you to accomplish.

Goodnight and trade well.
  • #470
  • Feb 21, 2020 3:39am Feb 21, 2020 3:39am
Quoting JetTrader
{quote} That's because you see things that are not there and you call yourself being funny and cute. You are neither funny, nor are you cute. If you knew how to read, then you would have already seen the thread, read it and know exactly what was going on. Instead, you did what this thread does. You drop some unfounded bullshit and then pretend as if your just trying to be cool. The live stream is get away from places like this where little to nothing is being shown that actually helps anybody New to the business. At least a New Trader can look over...
Time will tell. Seen it all before. Good luck in your venture.
  • #471
  • Edited 3:56am Feb 21, 2020 3:45am | Edited 3:56am
Quoting JetTrader
{quote} I think it is pointless anymore. Trading Forums are not what they used to be. My attitude form this point forward is, let them eat crow.
Forum is a congregation of a bunch of losers and naysayers.
If they can't do it, it must mean it's impossible for everyone else.

If any member post that they can trade with indicators the scammer tag is thrown at you.
Have you noticed that this scam word has started.
And I am supposedly your shill.
First they insult then up the ante with the scammer thing, happens here all the time.
That's why the forum is left with the losers, failures and naysayers.

I'm done with this thread. You take care and best wishes to you.

Quoting JetTrader
There is no risk to manage without these four things and there is certainly no money to manage without these four things. The problem is that you come to these Trading "Communities" and you are promptly introduced to the devil in disguise feigning to be a real Trader. You then spend countless hours going down a rabbit hole and never reaching bottom. You are never introduced to these four (4) absolutely required principles. There is no such thing as a successful trade outside of these four (4) giants. They have to be dealt with one way or another and the New Trader, needs to make these things their sole and primary focus at the very start of their career. This will save them a ton of headache and heartache at the end of the day. But, who is going to teach these principles to New Traders.
"There is no risk to manage without these four things"

Well said. Don't take a genius to figure that out.

Answer to your question - nobody
Know what you trade
  • #472
  • Feb 21, 2020 3:46am Feb 21, 2020 3:46am
This thread has legs!

Why don't viptrading and JetTrader take it in turns to show us a trade?
  • #473
  • Feb 21, 2020 5:05am Feb 21, 2020 5:05am
Quoting BWilliam
{quote} Is it so hard for you to ignore the personal claims that he made which has no relevance to you as a trader ? Who cares how successful with his trading. Read the technical content then use your brain judge for yourself if it means anything to you for your self improvement. If it means trash to you then move on, don't read his posts nobody forced you to read. You can ignore me it's your choice, do what's right for YOU.
All started when he said he took a $50 account to $5000 in a short period of time... I was very impressed by his results. All I did was asking for some proof of that, a trade explorer.. anything.. Because if there is something I've learned in this forum, is that there are a lot of talkers, and a lot of geniuses that know everything, even how the universe was created.. But with no proof to back up what they are saying...

After that he started pointing out of fool I was for asking him that.. and how stupid we all are for not believing whatever he is saying because he is a fucking genius..

His arrogance in his posts is what elevated the conversation until this point..

If you want to follow blindly a guy who talks a lot but proved nothing yet.. go ahead.
  • #474
  • Feb 21, 2020 5:18am Feb 21, 2020 5:18am
Quoting BWilliam
{quote} 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.
You need to go further back in time to discover the origins of that gap on EURUSD. In the middle of that Gap is a massive Target called a Vacuum Zone which was create back in June 1991. It caused a few reactions over the years but the biggest two visual clues were two gaps around 2016.
The Vacuum is at 1.08006 to the pip.
In this chart below, you can see how the Vacuum encourages Aggressive orders like magic.
These vacuums will create a pattern which George calls Herd Mentality Validation Boxes, almost every single time without fail.
Attached Image (click to enlarge)
Click to Enlarge Name: eu vvvvcccc.png Size: 131 KB
Trading thin liquidity at the boundary of the charts
  • #475
  • Feb 21, 2020 5:42am Feb 21, 2020 5:42am
Quoting JetTrader
{quote} But, who is going to teach these principles to New Traders.
Quoting JetTrader
{quote}somebody has got to establish a New Traders Orientation Forum
Quoting JetTrader
{quote}I feel like such a weight on my shoulders. I just don't want that calling right now in my life. I've got other things to get done and I'm only one guy. Maybe I could teach someone how to teach others, I don't know what the answer is, but I know for a fact that New Traders are getting screwed on these Public Forums. There is no Structured Approach to learning these fundamentals.
New traders... don't you worry... The Messiah of Forex has arrived!

We have been waiting you for so long dear Master! How fool we all are for not trusting your words!
  • #476
  • Feb 21, 2020 5:50am Feb 21, 2020 5:50am
So I guess the more you insult someone that means you win a debate then? Hm I didn't know that's how things worked in the real world.

I regret ever engaging with JetTrader in the first place he clearly has some personal issues that he needs to deal with if he thinks it's acceptable to talk to people this way. But that's okay, he will learn one day.

As far as his claims I have entered in, or commented on each of his trades with my opinion from my point of view without any indicators using my logic behind how I trade. If anyone wants to go back and check they can. He knows this but he also does not want to ever lose an argument online so he will stop at nothing to prove his point, even if that means being arrogant and insulting towards other fellow traders.

I have probably said this 10 times on this thread but, I never said you could not use indicators to make a profit trading. I even stated that for new traders you need to understand the way the market works before developing any indicator based system and by that point you may, like me choose not to use them at all.

Sometimes people get attached to their indicators and their systems and believe that it is a holy Grail and turn into the thing from the Lord of the rings never wanting to let go. And that's just my opinion.

I posted some of my trades here, I have an entire thread where I post all my trades and my weekly outlook of the market without using indicators, and it works for me, I make a profit, I am happy.

To anyone who wants to learn how to trade do not be threatened by someone like this JetTrader who has this fancy system and think, wow I need that to trade. You don't, trust me you just need to get an understanding of the market and practice and it will come.

At this point his responses are filled with hatred and negativity so I will try my best not to say anything negative back to him. Clearly I hurt his feelings so I will back off.

I am currently in long GBPCAD and short WTIUSD among others if anyone wants to check, I posted them last night, I take trades all week and they are all in my trading history here on FF. I also have a thread explaining why I took them. Trading is not easy and if you guys want to follow someone who has shown no proof of his claims then fine. But again I am not saying he isn't a good trader, because I am not a judgemental person. However, if he was a good trader he wouldn't be attacking me for using no indicators or the way I trade since he would know that they are not technically necessary and actually he agreed with me earlier in the beginning of this thread. So anyway, I'm staying on my side and I apologize if I hurt anyone's feelings but we are all getting distracted from the point of this thread which is to compare the effectiveness of indicator based trading vs non indicator based trading.

It's gone off the rails and has become a battle of who knows more rather than just comparing opinions respectfully.
  • #477
  • Feb 21, 2020 6:20am Feb 21, 2020 6:20am
Quoting GMD
{quote} All started when he said he took a $50 account to $5000 in a short period of time... I was very impressed by his results. All I did was asking for some proof of that, a trade explorer.. anything.. Because if there is something I've learned in this forum, is that there are a lot of talkers, and a lot of geniuses that know everything, even how the universe was created.. But with no proof to back up what they are saying... After that he started pointing out of fool I was for asking him that.. and how stupid we all are for not believing whatever...
Someday in the future you may figure this out.

I don't give any value to TE or account size or prop trader.

The only thing that matters is live trade calls. We can see clearly and assess the traders knowledge and skill in real time. The trader can't fake in real time market. Everything else is bs. Watch the trader in actual live market you get to see how poor he actually is.
Know what you trade
  • #478
  • Edited 9:04am Feb 21, 2020 6:27am | Edited 9:04am
Quoting viptrading
I regret ever engaging with JetTrader in the first place he clearly has some personal issues that he needs to deal with if he thinks it's acceptable to talk to people this way. But that's okay, he will learn one day.
Understandably so. I worked with JetTrader for close to 5 years on a project. It was great in the beginning and I did learn a lot. He is quite brilliant, no doubt. When I got not afford to give 6+ hours per day and got close financial ruin, he did not take it very well to say the least.

I am thinking of starting a thread warning software developers about the dangers of doing work for free. It is riddled with pitfalls, the proverbial "carrot on a stick". Be very careful is all I want to say at this stage.
  • #479
  • Feb 21, 2020 6:31am Feb 21, 2020 6:31am
Quoting BWilliam
{quote} Someday in the future you may figure this out. I don't give any value to TE or account size or prop trader. The only thing that matters is live trade calls. We can see clearly and assess the traders knowledge and skill in real time. The trader can't fake in real time market. Everything else is bs. Put the trader in actual live market you get to see how poor he actually is.
Buddy you can't fake TE from regulated and popular brokers like Oanda, Global Prime, Blueberry Markets, etc etc...

But you are right about live trade calls tho.. the only problem would be that there is still information easy to manipulate. How come?? Well We don't know how JetTrader manages a losing trade. For example, when I mentioned EURAUD went below his entry and below the lowest low... we don't know if it touched SL, or even if he uses a SL... All we know, is that he came here and said... "hey don't worry, I actually closed the trade with +0,5 pips....

Do you get what I am saying?? It is easy to see winning trades... but ain't easy to see how many trade someone actually loses if there is no proof of his real numbers.

So by the way... you SHOULD care about TE when you gonna follow someones advice. I mean, think about it buddy.. its simple logic... there is someone proving to you that he has been succesful for a long time.... are you really gonna try to teach something to that person when you haven't achieved anything yet??? Isn't it better to take that persons advice?? Even if you were trying to do something different... Doesn't matter.. It is still a very valuable advice from someone who clearly knows what he is doing...

That's it buddy... Just trying to help you out..
  • #480
  • Feb 21, 2020 6:37am Feb 21, 2020 6:37am
Quoting RickM
{quote} You need to go further back in time to discover the origins of that gap on EURUSD. In the middle of that Gap is a massive Target called a Vacuum Zone which was create back in June 1991. It caused a few reactions over the years but the biggest two visual clues were two gaps around 2016. The Vacuum is at 1.08006 to the pip. In this chart below, you can see how the Vacuum encourages Aggressive orders like magic. These vacuums will create a pattern which George calls Herd Mentality Validation Boxes, almost every single time without fail. {image}...
Yes

April 2017 gap need to be filled.
Most retail trader trade buy and increase their buy position everytime it goes down.

They burn their account with irrational drawdown.
I do not recommend anything, please blame me not. Thanks
0 traders viewing now