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more knowledge more problems

  • #21
  • Jan 7, 2007 11:39pm Jan 7, 2007 11:39pm
Quoting taxgeek
When things don't go right, we always assume that the reason lies in our knowledge of trading, indicators, and etc. It's not about knowing more about indicators and technical analysis. It's always about knowing yourself. Trading forex like the stock market doesn't work. To be honest I think most of the indicators used with stocks are way too slow to be of any use in Forex. The only ones, which seem fast enough, are CCI and RVI. Most of the others are a day late and a dollar short unless you use them unconventionally for divergence or whatever. Everyone seems to use them anyway, and I followed the crowd to start with by adding more and more of them, coming up with several good entry systems, hoping to know where the market was going next. It doesn't work. Indicators cannot relay that information. They can only tell you where the market has been and where it was at the last chart update. Simplify your charts, get in touch with yourself, and trade from your gut. That's the only way to win in Forex.
What is RVI?
  • #22
  • Jan 7, 2007 11:46pm Jan 7, 2007 11:46pm
Quoting Just1Pip
What is RVI?
Relative Vigor Index

Taken from Metaquotes.net:
The main point of Relative Vigor Index Technical Indicator (RVI) is that on the bull market the closing price is, as a rule, higher, than the opening price. It is the other way round on the bear market. So the idea behind Relative Vigor Index is that the vigor, or energy, of the move is thus established by where the prices end up at the close. To normalize the index to the daily trading range, divide the change of price by the maximum range of prices for the day. To make a more smooth calculation, one uses Simple Moving Average. 10 is the best period. To avoid probable ambiguity one needs to construct a signal line, which is a <nobr>4-period</nobr> symmetrically weighted moving average of Relative Vigor Index values. The concurrence of lines serves as a signal to buy or to sell.



Andersenws
"Youth is the trustee of prosperity." - Benjamin Disraeli
  • #23
  • Jan 8, 2007 12:54am Jan 8, 2007 12:54am
All I see is a monkey.
How you act is more important than how you feel.
  • #24
  • Apr 9, 2007 12:47am Apr 9, 2007 12:47am
and thus only use a tiny piece of their equities.

if they see other oportunity, they can put few other position, and thus multiply the volume a few times bigger(that mean, the market actualy can move multiple times wider than we see everyday.). since the money can't be all sold out, because it is based on ratio. there comes a S & R

is it the way?
  • #25
  • Apr 9, 2007 2:58am Apr 9, 2007 2:58am
Quote
Are there really only resistance, trendlines, chart patterns, and some indicators left?
Is this really everything, or do i forget sth?
Hopefully there will be some response.
Anyway .. Thanks for listening
-mike

I don't know how good are the indicators, but I'm sure trendlines and S/R works. Learn to use them.
  • #26
  • Last Post: Apr 10, 2007 8:18am Apr 10, 2007 8:18am
  •  dado26
  • | Joined Mar 2007 | Status: Plan your trade and trade your plan | 180 Posts
Quote
Are there really only resistance, trendlines, chart patterns, and some indicators left?
Is this really everything, or do i forget sth?
Hopefully there will be some response.
Anyway .. Thanks for listening
-mike

If you put all indicators and trendlines on your trading platform it can be confusig I think every trader has to find what works for him/her.
I use really simple obvious chart patterns,MAs and fibo. Till now worked for me.
It is not important what you use in your chart analysis....its important that it works for you

Best wishes.....
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