Why do traders use so many indicators? | Page 26 | Forex Factory

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Why do traders use so many indicators?

  • #501
  • Feb 21, 2020 2:54pm Feb 21, 2020 2:54pm
Quoting JetTrader
{quote} 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...
I don't think FF wants this kind of language and rudeness on their forms. Maybe its best you do what you said 2 posts above about "next year". I'd appreciate not reading the negativity as a new member. It's quite upsetting.
  • #502
  • Feb 21, 2020 6:50pm Feb 21, 2020 6:50pm
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}...
Hi RickM, thanks for the explanation. It looks like a unique form of analysis. You might want to consider open a thread to discuss this form of trading. I am interested and have lots of questions to clarify my understanding.
Know what you trade
  • #503
  • Feb 21, 2020 7:06pm Feb 21, 2020 7:06pm
Quoting moodybot
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...
Another form of cycle analysis.
https://www.forexfactory.com/showthr...4#post12756844
Know what you trade
  • #504
  • Feb 21, 2020 9:34pm Feb 21, 2020 9:34pm
Because they are 'Eye Candy' and I like candy!
  • #505
  • Feb 21, 2020 10:39pm Feb 21, 2020 10:39pm
Quoting BWilliam
{quote} Another form of cycle analysis. https://www.forexfactory.com/showthr...4#post12756844
Hi, thanks for the link.
Not for me.
Millions of explanations all over the net of why a method works but no one addresses how and why the market (Algo) moves. This thread has attracted some unsavoury comments, we can all be guilty of that, especially during a heated exchange, each trader has his own way, but honestly if I don’t see an explanation of how and why, then I move on. Not saying it doesn’t work but price moves target to target. The EURUSD trade that I posted had a low exactly at the 3 year low. To the pip.
That is not coincidence.
With that info, 28 pairs, there is always a potential trade with just a line drawn on the chart.
  • #506
  • Edited 2:38am Feb 22, 2020 2:08am | Edited 2:38am
Quoting moodybot
.....but price moves target to target.
How we define target makes all the difference.

Support resistance or supply demand are targets.
Trendlines are targets.
Fib levels are targets.
Pivots are targets.
Jenkin angles are targets.
Historical high low are targets.
Price gaps are targets.
Volume gaps are targets.
Retail stoploss are targets.
Institutional stoploss are targets.

The list goes on.....

Everyone of their practitioners are equally passionate about how they determine targets, the best to them individually and the rest don't match up.
That's expected normal behaviour.

I study in detail all these proposals, develop math formulas to replicate these various types of targets to test them in a systematic way to determine their efficacy.
This research method removes mistakes, illusions and makes it quantifiable if they truly give the edge as claimed.
This also allows me to identify the strengths and weaknesses of each of them, then gives me this opportunity to incorporate their individual strengths together as a math derived target. Borrowing the best elements from other peoples ideas. That's how I go about the work to derive and define my target.
This means I have a very open mind and ears for everyone's input, the good the bad the ugly.
Know what you trade
  • #507
  • Edited 2:51am Feb 22, 2020 2:37am | Edited 2:51am
Quoting BWilliam
{quote} Another form of cycle analysis. https://www.forexfactory.com/showthr...4#post12756844
This is the type of cyclic analysis I am working on. I call it the Parabolic Wave. Still a long way to go, but making good progress altogether. Shown here on the EURUSD H4 and H2. It does a fairly good job of capturing the daily cycle:


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The challenge is to integrate it through multiple time frames and will probably keep me busy for some time to come.
  • #508
  • Feb 22, 2020 2:40am Feb 22, 2020 2:40am
Quoting BWilliam
{quote} How we define target makes all the difference. Support resistance or supply demand are targets. Trendlines are targets. Fib levels are targets. Pivots are targets. Jenkin angles are targets. Historical high low are targets. Price gaps are targets. Volume gaps are targets. The list goes on..... Everyone of their practitioners are equally passionate about how they determine targets, the best to them and the rest don't match up.

It’s your decision entirely as to what works.
I have demonstrated a reaction to a historical Low that stopped exactly to the pip. They are areas of stops, that’s all we have to find.
Look at price react around a pivot, it’s 50/50 as to what happens next, trendlines... what on earth has a trend line got to do with finding an area of stops? Fib lines, not for me, maybe set TP and SL but again they don’t show areas of stops. Angles of what?
Find a reversal pattern back into a ‘trend’ or a reversal against, but note whether there is an historical level or not that has been taken out. If it hasn’t then wait but check further back in time, there might be another that they are targeting.
The thread was about posting a chart and have the OP critique the entry, I’ve done that, I explained where why and how I came to the decision. I also posted a year ago exactly the same on George’s thread. Jetdude did the same, in a roundabout sort of way. In no way am I arguing with you but I demonstrated what works for me.
Perhaps take a trade next week and post it up here. Show why pivots, or trendlines work. If they do, I’ll add them to my analysis.
Cheers.
  • #509
  • Feb 22, 2020 2:51am Feb 22, 2020 2:51am
Quoting moodybot
{quote} It’s your decision entirely as to what works. I have demonstrated a reaction to a historical Low that stopped exactly to the pip. They are areas of stops, that’s all we have to find. Look at price react around a pivot, it’s 50/50 as to what happens next, trendlines... what on earth has a trend line got to do with finding an area of stops? Fib lines, not for me, maybe set TP and SL but again they don’t show areas of stops. Angles of what? Find a reversal pattern back into a ‘trend’ or a reversal against, but note whether there is an historical...
Huge threads where practitioners post their charts. They all do it differently.
The active members post their trades, take a look if you are interested.

Pivot thread.
https://www.forexfactory.com/showthread.php?t=588764

PVSRA thread
https://www.forexfactory.com/showthread.php?t=540706

Ratio & harmonics thread
https://www.forexfactory.com/showthread.php?t=402253

Time and price thread
https://www.forexfactory.com/showthread.php?t=944320

Michael S Jenkins thread
https://www.forexfactory.com/showthread.php?t=981509
Know what you trade
  • #510
  • Feb 22, 2020 2:59am Feb 22, 2020 2:59am
Quoting Wanderer272
{quote} This is the type of cyclic analysis I am working on. I call it the Parabolic Wave. Still a long way to go, but making good progress altogether. Shown here on the EURUSD H4 and H2. It does a fairly good job of capturing the daily cycle: {image} {image} The challenge is to integrate it through multiple time frames and will probably keep me busy for some time to come.
Good job.
Yea mtf is the challenge that gives it a depth of field visual on any tf. Creates the comparison effect that we want.
Know what you trade
  • #511
  • Feb 22, 2020 3:11am Feb 22, 2020 3:11am
Quoting weitseng45
{quote} I don't think FF wants this kind of language and rudeness on their forms. Maybe its best you do what you said 2 posts above about "next year". I'd appreciate not reading the negativity as a new member. It's quite upsetting.
I must agree with you, absolutely shocking behaviour. Not nice to read at all, this usually happens when someone throws their toys out of a pram.
J
J12
  • #512
  • Feb 22, 2020 3:14am Feb 22, 2020 3:14am
While I am at it, some of my other stuff based on JT's TCD concept:

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Another way to look at it:

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All of this needs to be integrated through multiple time frames into a coherent whole.
  • #513
  • Feb 22, 2020 3:18am Feb 22, 2020 3:18am
I'd hate to be the party pooper here .. but ..

There are no patterns, nothing, zero, nada, that are reliable in the time price series!

Pivot, "PVSRA", Ratio & harmonics, Time and price, "Michael S Jenkins", cycles, trend lines, price formations, Gann, Elliot Waves, Support / Resistance, Supply / Demand .. and so on.. are all subject to the illusion of the "well chosen exemple" that ignores all the other cases when the pattern failed.

You may think that you are picking and choosing the correct pattern and carefully weighing in your entries according to some strategy but in the long run there is no edge in any pattern or strategy based on some price structure.

You must study and understand at least these three subjects:
1) confirmation bias
2) Apophenia
3) Pareidolia
  • #514
  • Feb 22, 2020 3:22am Feb 22, 2020 3:22am
Quoting Mingary
.. are all subject to the illusion of the "well chosen exemple" that ignores all the other cases when the pattern failed. You may think that you are picking and choosing the correct pattern and carefully weighing in your entries according to some strategy but in the long run there is no edge in any pattern or strategy based on some price structure. You must study and understand at least these three subjects: 1) confirmation bias 2) Apophenia 3) Pareidolia
Tbh I agree with you. Once the trader is gripped by conviction he only sees the good part somehow denying the bad part, it's human nature. They get offended when the bad side is pointed out.

That's why trading community lacks simple basic honesty to themselves.
Know what you trade
  • #515
  • Feb 22, 2020 3:25am Feb 22, 2020 3:25am
Quoting JetTrader
Hidden
Please JetTrader, friend, no need to talk to anyone like that. It is not very nice at all & as you can see it's upsetting for other members.

You are a grown man, a multi millionaire, and the first one in your family that is on their way to becoming a billionaire, as you have stated. This is not how multi millionaires & billionaires should behave.

You should be setting examples to new members & existing members. Please respect others & no need for abuse, it makes you look unprofessional & a keyboard warrior at best. Their maybe be disagreements or even misunderstandings, but no need to disrespect or abuse other members.

Regards

J
J12
  • #516
  • Feb 22, 2020 3:26am Feb 22, 2020 3:26am
Quoting Wanderer272
While I am at it, some of my other stuff based on JT's TCD concept: {image} Another way to look at it: {image} All of this needs to be integrated through multiple time frames into a coherent whole.
You definitely must have put in a lot of time to create all that. Hope you achieve your goal.
Know what you trade
  • #517
  • Feb 22, 2020 3:31am Feb 22, 2020 3:31am
Keep it simple .. and have great patience to see your setup form well !!
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  • #518
  • Feb 22, 2020 3:32am Feb 22, 2020 3:32am
Quoting Mingary
I'd hate to be the party pooper here .. but .. There are no patterns, nothing, zero, nada, that are reliable in the time price series!
In most cases you are right. Patters needs to be seen in context and on on their own are mostly 50/50. Some are fairly reliable though. Spot the pattern:

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Anything whatsoever that could provide an edge?
  • #519
  • Feb 22, 2020 3:37am Feb 22, 2020 3:37am
Quoting Wanderer272
{quote} In most cases you are right. Patters needs to be seen in context on on their own mostly 50/50. Some are fairly reliable though. Spot the pattern: {image} Anything whatsoever that could provide an edge?
Took me donkey years to wise up and learn that. That's why I don't trust my eyes ever. I'm sceptical of my brains too.
They get easily fooled.
Probably the best tip I can give anyone is to stop believing their own eyes.
Know what you trade
  • #520
  • Feb 22, 2020 3:44am Feb 22, 2020 3:44am
Quoting BWilliam
{quote} You definitely must have put in a lot of time to create all that. Hope you achieve your goal.
Thanks. I have been at this for +/- 10 years. Let that be a lesson for all aspiring professionals.

Unfortunately my day job is all consuming at the moment, with very little time for this. I have high hopes of getting there though.
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