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Call me stupid - Indicator discovery

  • #21
  • Apr 5, 2007 7:49am Apr 5, 2007 7:49am
no offence, but how do you trade with the help of a tool(indicator) that don't you know how it works? I don't use indicators, and still know that they are different sma,ema etc
"Abandon all hope, you who enter here" La Divina Commedia, Dante Alighieri
  • #22
  • Apr 5, 2007 7:57am Apr 5, 2007 7:57am
Quoting semar
no offence, but how do you trade with the help of a tool(indicator) that don't you know how it works? I don't use indicators, and still know that they are different sma,ema etc
People drive without knowing how cars work, and get around just fine.

Someone could observe an indicator, see how it acts, and decide if it helps them.

To your point, someone who knows how cars work would probably be a better driver, especially in less than ideal circumstances such as a breakdown, or in competition, which would be a good analogy to trading.

Mathematician, thanks for the rundown and the great explanations that are easy to understand.
  • #23
  • Apr 5, 2007 10:54am Apr 5, 2007 10:54am
OR..

you can plot the RSI and then plot the CCI and see that they are exactly the same..
google:
  • #24
  • Apr 5, 2007 11:06am Apr 5, 2007 11:06am
Quoting blueruby
To your point, someone who knows how cars work would probably be a better driver, especially in less than ideal circumstances such as a breakdown, or in competition, which would be a good analogy to trading.
I see forex as a competition between buls and bears. Knowing better your tool make you more competitiv then ever. Btw I haven't seen any tutorial about indicator that doesn't explain what are they in esence, some moving averages
"Abandon all hope, you who enter here" La Divina Commedia, Dante Alighieri
  • #25
  • Apr 5, 2007 12:02pm Apr 5, 2007 12:02pm
Originally posted by MrWhipple

Ah Grasshoppers, Knowledge and true wizzdom will cast out all fear.

We fear what we do not know. We fear the dark because we cannot see.

When we light a candle, the room is still there, just as it was when it was dark. But we feel better with the candle because we have knwledge of the room. Spend a weekend blind. I mean really blind. blindfold yourself and do not cheat. You will be suprised how well you do. (Especally if you have a small apartment and no kids.) This excersize will really open your eyes to the trap of fear. At first you will be afraid of every thing. By the end of the third day you will think that you are ready to go out on the street. Try it, I am not kidding!

In trading we can do the same thing. Trade naked. Don't use any indicators. Put up your charts and just use price action alone. Use a demo account at first then try it with a bit of real money. Your stomach will do flip-flops at first, just like the first couple of hours with the blindfold, but there is a big payoff in the end.

MrWhipple

==================

I believe forcing yourself to trade naked as MrWhipple suggests is an excellent cure for the fatal beginners disease known as Indicatoritis.

Dial
sxaxlxvxaxtxixoxnxbxyxgxrxaxcxexdxoxtxoxrxgx
  • #26
  • Apr 5, 2007 12:33pm Apr 5, 2007 12:33pm
hi diallist,

yeah, you're so right and so is MrWhipple. You both are two of the great minds here @FF and we are glad to have you here.

Keep up the good work!
  • #27
  • Apr 5, 2007 1:15pm Apr 5, 2007 1:15pm
Quoting twoblink
OR..

you can plot the RSI and then plot the CCI and see that they are exactly the same..
By Jiminy! You're right! They're EXACTLY the same! Even though one goes up while the other goes down!!!!
Attached Image
  • #28
  • Apr 5, 2007 1:27pm Apr 5, 2007 1:27pm
Quoting diallist
Put up your charts and just use price action alone. Use a demo account at first then try it with a bit of real money.
In my (very) humble opinion, pure naked price action is tic-by-tic data. The moment you move from these raw data to bars/candles, to s/r lines, to PA formations - you are up several levels of abstraction. MAs are also some level of abstraction, not very high. MA derrivatives are still more abstract, etc. Most humans need some abstraction to make sense of data. I believe that different people are comfortable with different levels and different types of abstraction. What counts is the bottom line. I have great respect for people who are able to see triangles, diamonds, heads-and-shoulders - but meanwhile, I am quite content with a couple of MAs I use together with a sort of Keltner band. It draws me a picture of the battlefield with which I sometimes manage to win some battles.
sans peur et sans reproche
  • #29
  • Apr 5, 2007 1:41pm Apr 5, 2007 1:41pm
There are not moving averages at all. They are moving averages of moving averages.

Oh that is completely different. Yah.

And it doesn't rain much in Seattle except when it does.

Doh. I hate when that happens.
  • #30
  • Apr 5, 2007 2:20pm Apr 5, 2007 2:20pm
Quoting diallist
Originally posted by MrWhipple

Ah Grasshoppers, Knowledge and true wizzdom will cast out all fear.

We fear what we do not know. We fear the dark because we cannot see.

When we light a candle, the room is still there, just as it was when it was dark. But we feel better with the candle because we have knwledge of the room. Spend a weekend blind. I mean really blind. blindfold yourself and do not cheat. You will be suprised how well you do. (Especally if you have a small apartment and no kids.) This excersize will really open your eyes to the trap of fear. At first you will be afraid of every thing. By the end of the third day you will think that you are ready to go out on the street. Try it, I am not kidding!

In trading we can do the same thing. Trade naked. Don't use any indicators. Put up your charts and just use price action alone. Use a demo account at first then try it with a bit of real money. Your stomach will do flip-flops at first, just like the first couple of hours with the blindfold, but there is a big payoff in the end.

MrWhipple

==================

I believe forcing yourself to trade naked as MrWhipple suggests is an excellent cure for the fatal beginners disease known as Indicatoritis.

Dial
Could you post a screeen shot of a trade you have taken using this method.
I cannot imagine what you could be looking at.
Thank you
  • #31
  • Apr 5, 2007 3:48pm Apr 5, 2007 3:48pm
Quoting diallist
Originally posted by MrWhipple
Trade naked.

MrWhipple

==================

I believe forcing yourself to trade naked.

Dial

Quoting Stan
Could you post a screeen shot of a trade you have taken using this method.
I cannot imagine what you could be looking at.
Thank you
next on jerry springer, "people who trade naked and those who want to watch them".

stan. you perv. tell me why i shouldn't report the both of you to the mod.
BAM BAM BOOM! -bravado
  • #32
  • Apr 5, 2007 4:01pm Apr 5, 2007 4:01pm
Quoting bravado
next on jerry springer, "people who trade naked and those who want to watch them".

stan. you perv. tell me why i shouldn't report the both of you to the mod.
You know what bravado............you have really made me laugh...I am sorry for underestimating your power comedy.....

Best of luck for tommorow mate

Rav
  • #33
  • Last Post: Apr 6, 2007 11:13pm Apr 6, 2007 11:13pm
Quoting amenlo9
so price action is the most important?
After all, we buy or sell prices not the indicators.


Thanks,

Nader
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