Why do traders use so many indicators?

For me stop loss is mandatory at point of entry. No adjustment of sl to worse level is allowed in live market, a personal discipline.

I did look at the details of individual trades then plot them on the charts of so-called great traders TEs. They don't look good. I have yet to see a TE that looks good. Imho.

That's why to me the standard of proof is actual performance in live market.

I don't always use a SL. It depends on the trade.

You need to understand what a SL and why your using it, it should not be use to simply cut your loss at a certain point. I try and enter every trade with 100% certainty it will work out, and if it doesn't and starts going against me I will then decide what to do with it, or how to manage my loss.

The problem with using a SL are many, but if you are going to use one its best to have a big SL imo. Because usually your analysis will be correct, even if the trade starts to go against you for a while.

We are all different when we discuss the details of trading.

To me stop loss is the most important part of the actual trading process. I make trade entry only if I believe the probability is good that the market likely not move beyond my sl. I put a lot of research work into this one aspect of trading studying the volatility character at different times of the day for pairs that I trade, I don't trade random pairs. I have quantified the rules how I do it so there's little discretion involved. Once the entry is triggered the sl either survive or triggered that get me out of the market. There is no discretionary trade management in live market. This forms part of my risk management. Once entry is made I don't analyse the market anymore, I let the market do it's thing. I do manually execute stop loss to breakeven when the market moves in my favour for protection besides the automated sltbe.

I wrote a trade manager to aid me to execute my entry process. Every possible decision is already decided in the code, nothing to think about in live market. I merely press the entry button to execute trades.

I'm with you BW! I've actually hardcoded the SL as a %ofADR into my Trade Manager. Money management should be at the top of every trade plan.

Mine got triggered as well. I was still in bed.

This is very interesting point of view. My buddy J12 has a very similar philosophy on how to manage a losing position aswell. Knowing when to take profit is important, and understanding how to deal with a losing trade is extremly important too, this is real Money Management.

If I may ask you about how you manage a position going against you. Let's say you just shorted CADCHF at 0.7408.. Looking at a Weekly chart. What would you do in case it goes against you??
Maybe opening another short at certain point to balance it out?? Being patient and wait for the trade to work out in your favour? probably break even or small loss?
Does this apply on your money management?

Regarding money management and exit decisions. You first need to decide whether you believe this is a good trade or not, or if you made a mistake in entering it in the first place. If you do believe based on your analysis that this is a good trade, but you just entered too early and it went against you, then you hold it and you can add to it as it goes against you if you want, or you can close and reenter. Also it's important that you do not risk too much on a trade but I am sure you probably already know this. My general rule of thumb is 0.01 lots per 100$ but that also depends on which pair your trading and your account currency. So, for GBP pairs you may want to be even more cautious. You can always add more size on if you are feeling very confident so no need to go to big if you are unsure at first.

In this case fundamentally CAD is weak, but CHF is also extremely overvalued at the moment imo, and therefore also weak. Because of this, by selling CADCHF you are basically saying that you believe CAD is more overvalued than CHF at the current time, so you believe that it will go down in comparison to CHF. Technically the setup is good, since the pair is in a downtrend on higher time-frames, and pulled back to an area where there may be some sellers coming in, and in fact was somewhat confirmed by its first down day after 12 straight bullish days before.

It's hard for me to actually say how I would manage this trade since I am not in this trade, but I can say that fundamentally and technically it is not a bad idea, but I wouldn't personally be in this trade for the reasons I explained above. It very well may continue down to maybe 0.73, I am also bearish in my view of CAD, but the issue here is I am also bearish CHF.

If the trade starts to go against you too much you need to try and understand why this is happening, if it is because you got a bad entry? Or is it because you were wrong. That is the hard part honestly, figuring out whether you are wrong in your analysis or if its just a bad entry.

I'm looking at the chart.
and I think theory went wrong.
On this basis alone, I have not opened a position.
this is too little.

Good stuff.

Those currently are my two favorite pairs due to their 100p+/day ADR. When I first started my journey with FX, even the EU would clock 150p/day! Very easy day trading environment.

Bucket Shop Funded Forums are notorious for this. I should know better. I should not have allowed myself to blow-up at VIP. His ignorance and arrogance is not something that I should have been concerned with from the start. I should have simply posted the trades as he requested, posted my updates as they came in and then kept my mouth shut and let the System do the talking for me. The System did a fine job of proving the fallacy of his OP and it did with multiple types of trades that were all very different and distinct in their own character.

GBPCHF was a pure Momentum Trade. Just jump into the stream of the Panel and let the rest happen naturally. EURAUD was a pure Rotational Trade coupled to a 180-dgree change in Direction. That required Panel interpretation for the Rotation and then the Patience to let it naturally unfold. EURUSD was a pure Scalp Trade. Hyper short-term Long trade intersecting with major downward Momentum. All Scalps must have impeccable Timing associated with their entries. That trade never drew down below 3% of Cost. It was amazing to watch unfold. I love those types of well Timed Scalps. For some reason they just light my fire. I love them.

All of it done with "Indicators." For me personally, there would have been on way on earth I could have made these trade happen with my Trading Tech. Works for me. I'm very happy about that and I look forward to learning a lot more about my Tech in the future. A Trading System like this requires a lot of time spent in getting to know its natural behavior. I can Configure the Panel to do just about anything I want in terms of Trade Types. But, finding those Configurations takes time and some work. Once I find a unique System Configuration, I save it as a .Set file and then load it whenever I want to switch to a different Trading Style. Love that aspect of it.

These are the real Con Artists that you will find on nearly all the Trading Forums. Their Con is that they are actual Traders. Nothing could be further from the truth. I meet with Real Traders in-person in my neck of the woods occasionally. They range from Fundamental Equities Traders all the way to hardcore Quant Traders who have built some really sophisticated and highly accurate Systems - all of them specialize in a particular market and they all have their own unique Edge. None of these Traders spend any time on Trading Forums.

The only reason I come to online Trading Forums anymore, which has been the case for years now, is for the New Guy/Gal who has to wade through all the Con Artists pretending to be real Traders and their nonsense. Nonsense like "Why do traders use so many indicators?" Trash like that only serves to confuse and prolong the learning curve of New Traders, because it sends the wrong message and teaching insane things that have no place in the mind of a real Trader. So, these Hypocrite Con Artists have no other card to play then to label someone who actually trades and who does with Tech they don't have and they don't understand. These same Hypocrite Con Artists could easily ask questions about what they don't understand, so that they could learn something different - but that was never their intent to begin with.

The intent of a Con Artists is to Con. And, their Con is the feign being a real Trader, while driving up their post count on an anonymous forum. That's all they do. If they were Trading, they would be highly focused on that. I come here once a year at best. The last time I began dialoging here across consecutive days was years ago. I was busy doing building things related to my trading. That's what real Technical Traders do. They are either Trading or they are building Tools to assist them in their Trading.

Real Traders are all about Growing Capital. In their spare time, they may or may not reach back and attempt to help and/or inspire (in some way) the New Guy/Gal. If they do, that's out of their generosity not because they have to or need to. The weak Hypocritical Con Artists has to be seen everyday on a forum. That's part of their Con. I don't need this. I do it to try to inspire Purpose and Determination in the mind of the New Trade, by showing them something and demonstrating something directly in front of them that is unique and highly effective.

I've done that this visit. Now, I'm out. I may be back next year, I might not. It depends on how I feel. If I'm in the mood, I will and if not, I won't.



Yeah, but they are idiots. And, this is what Hypocritical Con Artist Idiots do. They make stuff up, rather than talk about the Landmine Trades that were placed right under their nose. The can't belittle the actual Trades that were done here. So, they attack the messenger and anyone who dialogues rationally with him. This has been the Playbook of these weaker minds for eons on Forex Related Trading Forums. They've been doing this for 17 years - literally. No joke.

Go back and dig up some of my Trading Journals on DailyFX, MoneyTec, TradeToLose (sorry) TradeToWin, EliteFaker (sorry, my bad) EliteTrader, ForexFallacy (sorry, pleas excuse me) ForexFactory, Kreslik (a bunch of Pirates and Thieves), etc.

I've been on all these boards posting everything from Trade Journals to some of my older System Designs. There are pictures that you can Google right now, showing these things over the years and showing the true nature of the Hypocritical Weak Minded Trolls who had nothing else better to do than trash a perfectly fine thread where nothing but discussions of my trading style and tools were being talked about.

Here, let's go find some proof. You can google others on your own if you want:

In this example of what Con Artists with zero integrity look like, you can see that I (SignaBender) took my work, my research and my concepts and shared it with others who then stabbed me in the back and later re-wrote their "own" version of my "Indicators" that they then sold as part of a "Motherload" download for a "donation" that I never authorized. Krislik Pirates with no integrity, whatsoever can be found here:

https://www.kreslik.com/forums/theru...-t2503/page110

I was SignalBender on that forum. Now, here is the same guy from Kreslik, who was on EliteFaker (sorry) EliteTrader before, having copied my DistinctVega concept and then claimed it as his own:



Here is another unethical hack who took not only the Forum Username I was using at the time (StealthTrader), but also the Indicator concept that I shared and then embedded my DistinctVega Indicator into his chart after he renamed it. What? Was I supposed to not be able to recognize my own work!:



I've placed a yellow box around DistinctVega. That was an older version of what's now running inside my current System. This guy used "StealthTrader" which was a UID I had been using online for years before he came to the game. Suddenly, years later, there is a StealthTrader website (which did not belong to me) and the StealthTrader Indicator that I named DistinctVega, many (many) years prior. Con Artists, liars and hacks. They are all over the place in this business and they have been for years. You can google a lot more on your own.

I don't mind people taking my work and then doing something positive with it for themselves, or even publicly. I truly don't mind. I came to the online community sharing my trading concepts in the very early stages of my work many (many) years ago. So, I clearly had no problem with anyone taking it, making it better and then using it to benefit themselves in their own trading. There is absolutely nothing wrong with that and I even encouraged people to use it that way.

What I NEVER did, was authorized or encourage anyone to take my ideas and then package them into Downloadable Bundles, while claiming the concepts as something they invented themselves. That, I don't appreciate. I don't appreciate someone using "StealthTrader" and then using DistinctVega while running a website for profit. My work was shared, not to be sold online.

I have many other stories of unethical hacks who have taken my ideas, presented them to the public as their own creation and then tried to sell them online. I don't appreciate that. I shared my early work freely and discussed it openly. It was not for Sale, as Pirates have done. But, that's what Con Artists do. They Con.

Some of my early research and work is visible and can be googled. Can the Con Artists say that? You try to help in the way that you can, William. Con Artists will always find a way to corrupt it.

Good Trading to you and I wish you all the best.

I am not sure what you mean by you think theory went wrong. Please explain.

Source: https://www.forexfactory.com/showthr...6#post12759036

That was the context you lying idiot. Clearly, this refers to people who think their T&E says something important about Growing Capital. I used an example of someone who might grow $50 to $5000 and then post a T&E about it. While that shows outstanding rate of return, it is not an overall account size that's anywhere what I traded routinely. That was the point being made.

You clearly don't know how to read. This is talking about the T&E specialists around here with thousands of pips and no Real Equity Growth shown in a larger Account Balance. THAT was the point.

Go learn to read in context and stop misquoting people. It makes you look Troll'ish when I have to come back and correct your bullshit. Your Con Job - where you pretend to be a Police Officer saving people from something that was never for sale in the first damn place.

Source: https://www.forexfactory.com/showthr...6#post12759036

Follow up to EURUSD...live call, using two indicators.
Candles and a hand drawn line taken off a 3 year historical gap...using reversal theory. As basic as it can get.
The trade was placed early due to being away from PC, otherwise, all good.
Price moves from target to target, all pairs, all time frames...the algo is programmed to do that.
At each target, once cleaned out, a fresh trap is laid, a never ending cycle.

The blue line on the chart is a fresh trap, no one knows when the Algo will track towards it, only it will.
Georges thread, worth it's weight in Gold.

Excellent posts Andy...targets called in advance, with clear explanations and reasoning...they worth million times more than the crap posted here by 12.9 months.

Targets, indeed.

Cheers
B

Thanks Bogdan, hope your well.
Same old from Georges thread, works continuously.

Everything's fine. Glad to see you're posting again.

Great stuff, real trading.

Best,
B

Look everyone, my stalker has appeared....