ok thats it!!! trading is more an art then a math algorithm | Forex Factory

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ok thats it!!! trading is more an art then a math algorithm

  • #1
  • First Post: Edited May 21, 2010 10:13am May 17, 2010 11:15pm | Edited May 21, 2010 10:13am
I have been trading frm last 3 years and all this times i have read and tried loads of systems and indicators but i must says nothing really works with any 100% of security and now i have already stopped looking for more systems,only thing works in this market is standard things like


s/r
pivots
channels
trendlines
Higer time frames
simple logic

whats your view about it?
  • #2
  • May 17, 2010 11:45pm May 17, 2010 11:45pm
Yup........
  • #3
  • May 17, 2010 11:58pm May 17, 2010 11:58pm
The only thing that works is price action.
  • #4
  • May 17, 2010 11:59pm May 17, 2010 11:59pm
you finally found the system that works:

s/r
pivots
channels
trendlines.

I dont use channels but Trendlines, Pivots and your S/R will definitely land you in the green.
"The market doesn't beat them, they beat themselves" - J. Livermore
  • #5
  • May 18, 2010 12:00am May 18, 2010 12:00am
The more I take of my charts the more money I seem to make.

I'm down to only two "things" (sma 20 and atr 20) and they are more to guide my eye than as rules. If I'm not sure where to put a stop loss I will sometimes use a Fib Retracement but again, it is a guide and doesn't rule my choice.
  • #6
  • May 18, 2010 12:03am May 18, 2010 12:03am
Quoting Monroe
The only thing that works is price action.
  • #7
  • May 18, 2010 12:12am May 18, 2010 12:12am
Actually i take that back, i thought you meant channel indicator like bollinger bands, Channels in trends, yes definitely.
"The market doesn't beat them, they beat themselves" - J. Livermore
  • #8
  • May 18, 2010 12:12am May 18, 2010 12:12am
Quoting tradestar1
Yup........
TRADE WHAT YOU SEE AND NOT WHAT YOU EXPECT
  • #9
  • May 18, 2010 12:17am May 18, 2010 12:17am
Quoting NYWallSt
Actually i take that back, i thought you meant channel indicator like bollinger bands, Channels in trends, yes definitely.
many a times i tried bollinger bands but always end with panic and uncleared indication finally making loss.
  • #10
  • May 18, 2010 12:18am May 18, 2010 12:18am
All I trade is a simple price line (line chart). I scalp, but I would do the same thing if I was swing trading or position trading. No indicators at all, no MA's, trendlines nothing really. Maybe some horizontal s/r lines if I'm really bored... if it helps you, then by all means draw the lines.

bollinger bands, cci, rsi and all that crap is lagging... how are you gonna put your money on something that lags price? If your using MA's to help you see direction thats cool, but for s/r... naaa.... Just make sure you can see price very clearly, and trade price, not indicators.
  • #11
  • May 18, 2010 1:17am May 18, 2010 1:17am
Quoting swingtrader
many a times i tried bollinger bands but always end with panic and uncleared indication finally making loss.
Im tellin you, so called systems are what keeps traders on the ground. indicators lag and that will kill you over time (in my opinion). Learn price action support and resistance, identify trends your good to go. The day i took all indicators off my chart is the day i became a profitable trader. I too felt like you did a long time ago, i kept thinking to myself WTF, why nothing really works, Yeah i would make a trade and squeeze 50+ pips out of it but nothing great. LOL i used to get excited by making 100 pips, now i pull in around 300+ pips, getting in on trend pullbacks. I recommend starting with E/U as its not too wild, then when you feel confident in your trading style you can jump into the Shark pool, AKA GBP/JPY
"The market doesn't beat them, they beat themselves" - J. Livermore
  • #12
  • May 18, 2010 1:56am May 18, 2010 1:56am
The emergence of computers caused a major "dumb down" of modern day traders. Why "pencil in" the change in price every day on walllpaper when you have this superfast computer to do it for you. This computer can also do complex math; to prevent most people from thinking about what is actually going on. The art of trading by studying price action was kind of destroyed. Some engineer/programmer saw a bunch of data points on a chart and figured there must be some type of algebraic expression to explain this movement. Unfortunately trading involves people it is not a function or equation that you can backtest.
  • #13
  • May 18, 2010 2:02am May 18, 2010 2:02am
Quoting Troikaone1
The emergence of computers caused a major "dumb down" of modern day traders. Why "pencil in" the change in price every day on walllpaper when you have this superfast computer to do it for you. This computer can also do complex math; to prevent most people from thinking about what is actually going on. The art of trading by studying price action was kind of destroyed....
Thats really true programming is different subject other then trading.
  • #14
  • May 18, 2010 2:25am May 18, 2010 2:25am
Quoting swingtrader
I have been trading frm last 3 years and all this times i have read and tried loads of systems and indicators but i must says nothing really works with any 100% of security and now i have already stopped looking for more systems,only thing works in this market is standard things like


s/r
pivots
channels
trendlines


whats your view about it?
Hi,
Well from my trading experience i have observed that all indicators repaints and non-of them is helpful in trading,,, Indicators look fancy on charts and it seems they that will help alot further in trading but they lacks & when they comes in real in trading you will observe them useless,,,Repaints etc
Use blank chart to observe price action by zooming out your charts,,,
AnyWays ''TRADING GURU'' the excat cracking code to enter inthe list of 5% successors is to Trade forex by Support & Resistance , Trandlines, Price Action and Fibo also but 1st excatly determine the excat way to use these professional trading tools ,,,
GoodLuck
PipHacker...
  • #15
  • May 18, 2010 2:28am May 18, 2010 2:28am
Quoting PipHacker
Hi,
Well from my trading experience i have observed that all indicators repaints and non-of them is helpful in trading,,, Indicators look fancy on charts and it seems they that will help alot further in trading but they lacks & when they comes in real in trading you will observe them useless,,,Repaints etc
Use blank chart to observe price action by zooming out your charts,,,
[color="Red"][b]AnyWays ''TRADING GURU'' the excat cracking code to enter inthe list of 5% successors is to Trade forex by Support & Resistance , Trandlines, Price Action...
sure
  • #16
  • May 18, 2010 2:30am May 18, 2010 2:30am
Quoting PipHacker
Hi,
,
AnyWays ''TRADING GURU'' the excat cracking code to enter inthe list of 5% successors is to Trade forex by Support & Resistance , Trandlines, Price Action and Fibo also but 1st excatly determine the excat way to use these professional trading tools ,,,
GoodLuck
PipHacker...
surebut again fib is not my cup of tea
  • #17
  • May 18, 2010 3:06am May 18, 2010 3:06am
Hi guys - first ever post!

I have recently been told about the "Bobokus Fibs" - these are fibs with modified values, and Ive only been using them for about 2 weeks and the hits are SPOOKY. Im really impressed so far.

Use them in conjunction with SimoneG's fib method and see how you go - like i said, its been impressively accurate

Search for the users on here, and they have PDFs to download in the threads with the methods.

Cheers...
  • #18
  • May 18, 2010 12:56pm May 18, 2010 12:56pm
Quoting Troikaone1
The emergence of computers caused a major "dumb down" of modern day traders. Why "pencil in" the change in price every day on walllpaper when you have this superfast computer to do it for you. This computer can also do complex math; to prevent most people from thinking about what is actually going on. The art of trading by studying price action was kind of destroyed....
What do you think about this?

The founder of Tradebot, in Kansas City, Mo., told students in 2008 that his firm typically held stocks for 11 seconds. Tradebot, one of the biggest high-frequency traders around, had not had a losing day in four years, he said.

http://www.nytimes.com/2010/05/17/business/17trade.html

http://www.tradebotsystems.com/img/vonbev_col.jpg
  • #19
  • May 18, 2010 1:02pm May 18, 2010 1:02pm
FWIW, I posted my thoughts on all of this here and here.
  • #20
  • May 18, 2010 7:33pm May 18, 2010 7:33pm
Quoting swingtrader
whats your view about it?
Been saying the same thing for years...
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