It's Unreliable | Page 7 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

I think Oanda FXTrade is unreliable 507 replies

List of unreliable brokers (updated once a week) 50 replies

NordFX stop hunting, unreliable with quotes 4 replies

Unreliable demo server 8 replies

Attachments: It's Unreliable
Exit Attachments

It's Unreliable

  • #121
  • Nov 17, 2021 12:54pm Nov 17, 2021 12:54pm
Quoting braintheboss
{quote} Just let me make an advice if you want not fall in common traps. Forget facts here. Stoch/rsi are not exhausted areas. Its a common wrong read/understanding about how works tools. If you check in strong trends you will see they are long time there. How people can call exhausted to something moves hundreds pips after reach that area You should try doubt about all when you are trying understand market. It happened something similar in EAX to other member. He believed csm tool is a strength meter and this is completely wrong from...
I hope I am misunderstanding your statement. I use those tools well, the Macd for the purpose of seeing divergences. For example, classic. When I see The trend making lower lows but the indicator is making Higher lows, it makes me think that this trend is exhausting and I will looking to buy the pair when my price action matches my indicators. But, let me tell yah, sometimes classic divergence could be read different because that movement could be temporary and it could re-enter the trend that's when a possible hidden divergence comes into play. This is a crazy game and experience is key. I love it, though.

Side note: looking for overbought and oversold in forex is really hard and I would not rely on it. Those tools are better used for divergences. Just my opinion. Not financial advice.
  • #122
  • Nov 17, 2021 1:31pm Nov 17, 2021 1:31pm
Quoting here2there
After much study of the Forex market, and the implementation of various strategies and indicators, I have come to the conclusion that most of what I have learned, and most of what is being taught, is unreliable. Moving average crosses, supply and demand zones, volume profile, tick volume, MACD, RSI, channel trading, Bollinger bands, sentiment trading, psychological levels, most candlestick patterns, etc..., all seem to be unreliable when it comes to having a substantial win rate resulting in good profits by the end of the year. The people marketing...
You're very correct in some the points you made. I leaned that EURO and GBP are correlated. Since my trading I have found out that GBP and USD are more positively correlated
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #123
  • Nov 17, 2021 1:31pm Nov 17, 2021 1:31pm
Quoting bento2019
{quote}...looking for overbought and oversold in forex is really hard and I would not rely on it...
Useless information that brokers want traders to believe in. New traders usually get sucked into this garbage. Experienced traders who place emphasis on this should be ashamed. Total waste of time.
Learn from your mistakes and march on.
  • #125
  • Nov 17, 2021 1:50pm Nov 17, 2021 1:50pm
Quoting bento2019
{quote} I hope I am misunderstanding your statement. I use those tools well, the Macd for the purpose of seeing divergences. For example, classic. When I see The trend making lower lows but the indicator is making Higher lows, it makes me think that this trend is exhausting and I will looking to buy the pair when my price action matches my indicators. But, let me tell yah, sometimes classic divergence could be read different because that movement could be temporary and it could re-enter the trend that's when a possible hidden divergence comes into...
Forex is subjective viewer perspective. 2 traders can read a chart/tool in a different way. My statement is about this. Its better to be wide open mind and not think about unmovable "facts". How trader manage tool reading is a personal decision.

Maybe king of this facts is about use of SL. Everybody will tell you must use them. My TE says a different story ( about equity/balance chart )
Try don't lose pants never...
  • #126
  • Nov 17, 2021 2:10pm Nov 17, 2021 2:10pm
Quoting here2there
{quote} Useless information that brokers want traders to believe in. New traders usually get sucked into this garbage. Experienced traders who place emphasis on this should be ashamed. Total waste of time.
Brokers are not the ones teaching bout overbought and oversold
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #127
  • Nov 17, 2021 2:10pm Nov 17, 2021 2:10pm
Quoting here2there
After much study of the Forex market, and the implementation of various strategies and indicators, I have come to the conclusion that most of what I have learned, and most of what is being taught, is unreliable. Moving average crosses, supply and demand zones, volume profile, tick volume, MACD, RSI, channel trading, Bollinger bands, sentiment trading, psychological levels, most candlestick patterns, etc..., all seem to be unreliable when it comes to having a substantial win rate resulting in good profits by the end of the year. The people marketing...
Firstly I agree with you about most of what is being taught being unreliable. So what is reliable?

After reading the bickering between ryuryu and roberts4me it is reliable that you can't change someone's mind on a Forex chat board and that some people just like to argue and be angry. Don't worry if other people disagree with you. Note it, point it out if you wish, but trying to correct them? That's a sure-fire reliable way to just start a useless argument that usually takes 1-2 pages...

Attached Image
Attached Image
...because you never know - until you do!
  • #128
  • Nov 17, 2021 2:13pm Nov 17, 2021 2:13pm
Quoting 9jatrader
{quote} Brokers are not the ones teaching about overbought and oversold
https://www.forexfactory.com/thread/...tor-profitably?
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #129
  • Nov 17, 2021 2:18pm Nov 17, 2021 2:18pm
Quoting braintheboss
{quote} Forex is subjective viewer perspective. 2 traders can read a chart/tool in a different way. My statement is about this. Its better to be wide open mind and not think about unmovable "facts". How trader manage tool reading is a personal decision. Maybe king of this facts is about use of SL. Everybody will tell you must use them. My TE says a different story ( about equity/balance chart )
I never thought about of looking at those things. Could you post an example? I would really be interested on how to look at that. Thank you.
  • #130
  • Nov 17, 2021 2:22pm Nov 17, 2021 2:22pm
Quoting 9jatrader
{quote} https://www.forexfactory.com/thread/...tor-profitably?
Check out the running GBPNZD
Attached Image (click to enlarge)
Click to Enlarge Name: gbpnzdrr.png Size: 45 KB
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #131
  • Nov 17, 2021 2:25pm Nov 17, 2021 2:25pm
Quoting 9jatrader
{quote} Check out the running GBPNZD {image}
That's how to trade the overbought and oversold. Price can be more bullish on Overbought as the GBPNZD running now and on oversold price can be more bearish
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #132
  • Nov 17, 2021 2:26pm Nov 17, 2021 2:26pm
Quoting 9jatrader
{quote} Brokers are not the ones teaching bout overbought and oversold
Saying brokers want traders to believe in something that is unreliable, is not the same as saying brokers are teaching traders to believe in something that is unreliable.

But do you think there is the slightest possibility there are educators out there working for a broker who give traders misleading information that, if applied, could ultimately lead to loss of funds?

You don't need to answer that question. I've already seen it years ago.
Learn from your mistakes and march on.
  • #133
  • Nov 17, 2021 2:28pm Nov 17, 2021 2:28pm
Quoting 9jatrader
{quote} Check out the running GBPNZD {image}
But what about those times when it didn't work?
Learn from your mistakes and march on.
  • #134
  • Nov 17, 2021 2:31pm Nov 17, 2021 2:31pm
Quoting here2there
{quote} Saying brokers want traders to believe in something that is unreliable, is not the same as saying brokers are teaching traders to believe in something that is unreliable. But do you think there is the slightest possibility there are educators out there working for a broker who give traders misleading information that, if applied, ultimately leads to loss of funds? You don't need to answer that question. I've already seen it years ago.
You would learn more from your chart as you trade and come to either believe or not what we have learned. As I said before now some of the points you said that are misleading are correct
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #135
  • Nov 17, 2021 2:33pm Nov 17, 2021 2:33pm
Quoting 9jatrader
{quote} You would learn more from your chart as you trade and come to either believe or not what we have learned. As I said before now some of the points you said that are misleading are correct
What did I say that is misleading?
Learn from your mistakes and march on.
  • #136
  • Nov 17, 2021 2:34pm Nov 17, 2021 2:34pm
Quoting here2there
{quote} But what about those times when it didn't work?
Do we not have breakout and fakeout. That's the reason to keep the risk low
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #137
  • Nov 17, 2021 2:40pm Nov 17, 2021 2:40pm
Quoting here2there
{quote} What did I say that is misleading?
I did not say you said something that's misleading. I mean some of the information we received while learning are misleading when we finally start trading.That's the reason I said we would learn more from the chart
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #138
  • Nov 17, 2021 2:43pm Nov 17, 2021 2:43pm
Quoting 9jatrader
{quote} I did not say you said something that's misleading. I mean some of the information we received while learning are misleading when we finally start trading.That's the reason I said we would learn more from the chart
I see.
Learn from your mistakes and march on.
  • #139
  • Nov 17, 2021 2:48pm Nov 17, 2021 2:48pm
Quoting bento2019
{quote} I never thought about of looking at those things. Could you post an example? I would really be interested on how to look at that. Thank you.
I made a draft in a thread called stack MM. After a few evolutions, theory start to be something tangible. But my trading paradigm is very different to others. Current test is not about strategy. Its about MM. Really system running is a mid term loser ( less 55% win ratio ) but its stable in profit.

Reason about this "weird" behavior is out of scope here.
Try don't lose pants never...
  • #140
  • Nov 17, 2021 2:50pm Nov 17, 2021 2:50pm
Good night. Am waiting for trade setup here
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
0 traders viewing now