- #2,148
- Edited 9:27pm Nov 22, 2010 9:05pm | Edited 9:27pm
- Joined Apr 2009 | Status: RETIRED | 1,947 Posts
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Disliked... I have tried hundreds of indicators, standard ones in MT4, ones posted on FF, ones on russian forums, u name it, i have used it.....thru all this, i have found that price action is the best...indicators seem to work but they work only for specific periods and for specific types of markets, they dont always work....so one week, they work very well, u make a lot of money and u start trusting it....so next week, cos of ur trust, u start to overleverage when u take trades and what happens ? the indicators dont work and u lose whatever u earnt and...Ignored
DislikedNo. MM lines are calculating current PA. Trading on MM is NOT a mechanical system and needs confirmation of other indicators.
TIgnored
DislikedIt's not? Why not? Says who?
MM[+2/8] SELL: TP1 @ 8/8, TP2 @ 7/8
MM[+1/8] SELL: TP1 @ 8/8th, TP2 @ 7/8
MM[-1/8] BUY: TP1 @ 0/8th, TP2 @ 2/8
MM[-2/8] BUY: TP1 @ 0/8, TP2 @ 2/8
in the direction of daily RSI:
MM[8/8] If downtrend, SELL & Exit @ 6/8th
MM[7/8] If downtrend, SELL & Exit @ 4/8th
MM[1/8] If uptrend, BUY & Exit @ 4/8th
MM[0/8] If uptrend, BUY & Exit @ 2/8th
Seems pretty mechanical to me.
Wake up, set limits on the hourly MM lines with daily RSI or 13EMA as trend filter, set alerts for 64 hour range breakout, go do something else.
A...Ignored
Disliked[color=Navy]I agree also, that MM does not need any additional indicators for confirmation. I have been trading with a large group for many years, successfully, and we do not use any additional indicators, but rather, simply the price dynamics of the markets of both higher and current time periods. I have made this information available in other locations, so if I may with your permission, I would like to present how we use MM/Gann, the Octaves, etc, with the full circles of conflict, etc.
[b]Before I get into this, I want to express my appreciation...Ignored