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looking for trading system without indicators

  • #1
  • First Post: Dec 23, 2008 9:04pm Dec 23, 2008 9:04pm
Hello greetings

Would like to learn trading systems without using indicators or softwares and without hearing news

Just by looking at charts.

I heared of forex trading systems forex 1-2-3 .

Need for info on this.

Thank you
  • #2
  • Dec 23, 2008 9:31pm Dec 23, 2008 9:31pm
A quick google search "1-2-3 breakout"....


http://www.earnforex.com/forex_e-boo.../123system.pdf
  • #3
  • Dec 23, 2008 9:35pm Dec 23, 2008 9:35pm
Quoting webforex
Hello greetings

Would like to learn trading systems without using indicators or softwares and without hearing news

Just by looking at charts.

I heared of forex trading systems forex 1-2-3 .

Need for info on this.

Thank you
I guess you'll need to become accustomed to a price action analysis if you don't want to use indicators on your strategy. Along with pattern recognition and using S/R will be enough.
  • #4
  • Dec 23, 2008 9:46pm Dec 23, 2008 9:46pm
http://www.forexfactory.com/showthread.php?t=80290

If you are interested in 1-2-3 style trading, start on this thread and read the whole thing....Then read it again...

DS
  • #5
  • Dec 24, 2008 2:46pm Dec 24, 2008 2:46pm
I don't understand why candlestick charts are considered 'indicatorless', surly candlesticks are just another form of indicator?
The breaking of a wave cannot explain the whole sea.
  • #6
  • Dec 24, 2008 3:13pm Dec 24, 2008 3:13pm
A great way to trade only candles is:

1) 4 Hour Chart or Higher
2) Wait for the last candle to close
3) New candle arrive, place pending buy/sell on the high/low of previous closed candle.
4) When trade is executed, place hard/trailing stop to break even.

Its a pretty good strategy. It works best on very large timeframes and during trending/news sessions. Its a terrible strategy for a ranging market. Its NOT a holy grail ... and will have some bad trades. Keep money management in mind at all times and you'll be ok.
  • #7
  • Dec 24, 2008 3:27pm Dec 24, 2008 3:27pm
Quoting Craig
I don't understand why candlestick charts are considered 'indicatorless', surly candlesticks are just another form of indicator?

You're right.
I've also seen people say they traded without indicators and all they used were "simple daily pivots and fib lines".
  • #8
  • Dec 24, 2008 5:45pm Dec 24, 2008 5:45pm
Quoting billbss
You're right.
I've also seen people say they traded without indicators and all they used were "simple daily pivots and fib lines".
So its impossible to trade without indicators? You cannot trade without having an indicator on your chart, candles, bars, even a line, fibs, nope sorry all indicators. We need to have a blank screen with the price ticker on the right hand side moving up and down haha. Bunch of liars aren't they
  • #9
  • Dec 24, 2008 7:09pm Dec 24, 2008 7:09pm
I don't know how to trade without indicators.
What do you mean trade without indicators? As I know, all things you can see on your chart are indicators, candlestick and price it's self is an indicator. So, i will tell you how to trade without indicator.

1. Open an account at a broker that could accept a phone call order.
2. Just go fishing, stay with your familly or anything you like.
3. Don't ever open a chart, asking what happened with price or listening the news that related to price movement.
4. When you feel, this is the time to open an order just call your broker and ask to buy or sell.
5. That's it.

Hope it's help

KG
  • #10
  • Dec 24, 2008 7:16pm Dec 24, 2008 7:16pm
  • #11
  • Dec 25, 2008 5:16am Dec 25, 2008 5:16am
Quoting Kang_Gun
I don't know how to trade without indicators.
What do you mean trade without indicators? As I know, all things you can see on your chart are indicators, candlestick and price it's self is an indicator. So, i will tell you how to trade without indicator.

1. Open an account at a broker that could accept a phone call order.
2. Just go fishing, stay with your familly or anything you like.
3. Don't ever open a chart, asking what happened with price or listening the news that related to price movement.
4. When you feel, this is the time to open an order...
Hi Kang
Your reply is really amazing!
Haven't you heard about people trade without indicators?
Candle stick is not an indicator, it is the price itself
Indicators are lines based on mathematical equation to represent the price in a informative pattern such as CCI and Stoch
I know people trade with nothing on their chart except the price lines

Best wishes
  • #12
  • Dec 25, 2008 7:56am Dec 25, 2008 7:56am
Quoting maptoprofit
Hi Kang
Your reply is really amazing!
Haven't you heard about people trade without indicators?
Candle stick is not an indicator, it is the price itself
Indicators are lines based on mathematical equation to represent the price in a informative pattern such as CCI and Stoch
I know people trade with nothing on their chart except the price lines

Best wishes
Thank you for your reply maptoprofit, but i believe candlestick is an indicator that tell us about the price (High, Low, Open and Close price). And I think price is an indicator too, that tell us how strong one currency compare to the other currency... hehehehhehehehehehehhe

But anyway HAPPY NEW YEAR.....

Best wishes,

KG
  • #13
  • Dec 25, 2008 8:41am Dec 25, 2008 8:41am
Quoting Kang_Gun
Thank you for your reply maptoprofit, but i believe candlestick is an indicator that tell us about the price (High, Low, Open and Close price). And I think price is an indicator too, that tell us how strong one currency compare to the other currency... hehehehhehehehehehehhe

But anyway HAPPY NEW YEAR.....

Best wishes,

KG
HAPPY NEW YEAR to YOU
[price is not an indicator it is the river]
[make a boat of paper, put it on the river to see the direction of the river, this is an indicator]
  • #14
  • Dec 25, 2008 8:56am Dec 25, 2008 8:56am
There is a lot of buzz about "no indicators" in the forums these days.

Does this mean that all the mayflies have been losing money with complex systems of indicators?

After these same mayflies lose money without indicators we'll see a return to indicators again, won't we?

nav++
  • #15
  • Dec 25, 2008 9:17am Dec 25, 2008 9:17am
Probably =D
  • #16
  • Dec 25, 2008 9:30am Dec 25, 2008 9:30am
  •  zykas
  • | Joined Oct 2008 | Status: ... measure thrice, but cut once | 196 Posts
[quote=maptoprofit;2437872]Hi Kang
Haven't you heard about people trade without indicators?
Candle stick is not an indicator, it is the price itself
Indicators are lines based on mathematical equation to represent the price in a informative pattern such as CCI and Stoch
I know people trade with nothing on their chart except the price lines


OK sir, let's settle it this way...indicators or no indicators, just give me the pips! Have a wonderfull christmas
I like the Big Dogs because I trade like them
  • #17
  • Dec 25, 2008 11:27am Dec 25, 2008 11:27am
Quoting webforex
Hello greetings

Would like to learn trading systems without using indicators or softwares and without hearing news

Just by looking at charts.
www.trading-naked.com has some good info on set ups

not sure I'd be comfortable trading fx without a knowledge of upcoming news
  • #18
  • Dec 25, 2008 11:34am Dec 25, 2008 11:34am
Quoting maptoprofit
HAPPY NEW YEAR to YOU
[price is not an indicator it is the river]
[make a boat of paper, put it on the river to see the direction of the river, this is an indicator]
Candles and bars are indicators.

They do not represent price as it actually occurred.

They give a summary of price action over a particular time frame.

Tick charts are the only indicator free price charts.
  • #19
  • Dec 25, 2008 11:47am Dec 25, 2008 11:47am
Quoting Jhig
A great way to trade only candles is:

1) 4 Hour Chart or Higher
2) Wait for the last candle to close
3) New candle arrive, place pending buy/sell on the high/low of previous closed candle.
4) When trade is executed, place hard/trailing stop to break even.

Its a pretty good strategy. It works best on very large timeframes and during trending/news sessions. Its a terrible strategy for a ranging market. Its NOT a holy grail ... and will have some bad trades. Keep money management in mind...
4Hour chart is most horrible Chart.
1Hour chart is most reliable chart.
What is problem with 4Hour chart candle ? Each broker have different Time causing different closing time of 4Hour candle. and due to this you will see different pattern with different broker.
1Hour chart is same with all broker since closing of H1 Candle is same with all broker
  • #20
  • Dec 25, 2008 12:07pm Dec 25, 2008 12:07pm
Quoting billbss
Candles and bars are indicators.

They do not represent price as it actually occurred.

They give a summary of price action over a particular time frame.

Tick charts are the only indicator free price charts.

I agree bill. The closest I have been able to trade indicator free is by implementing Donchian style breakout variations. No charts required. It can be argued though that using previous highs or lows over n periods is still an indicator.
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