Hi guys, i realized that if trading price alone is too hard, it is absolutely fine to add a FEW indicators. Just as long as it helps you out. Im not talking about:
-Buy when indicator level is at 50.
-Sell when the lines meet.
-Buy when they crossover, blah blah blah.
that is useless. The mistake many make when using indicators is that they LOOK at their indicators and decide UPON THEM INSTEAD OF PRICE!!!!!!
I noticed that in forex we can't know what exact volume is traded so i decided to use a few indicators to help me with volume studies.
Dont use indicators as a tool to help you buy or sell. to me these indicators im using help me help indicate PRiCE. these indicators dont indicate direction in my POV, and i use them for specific reasons:
Ichimoku custom (i deleted some of the less useful stuff, such as the tenkan sen 9 period ma.) I kept the cloud (the most useful), and the kijun sen, the 26 period Ma. I also kept the chikou span, the lagging line to help me to know if price looks to range, or trend.
I use ichimoku to identify, trending, ranging, reversal markets, and possible sup/res levels.
RSI: I use the Relative Strength Index to connect with my chart, if a particular instrument has made a decision to go one way.
Volumes: Simple indicator. i use this indicator to identify when a move has lots of volume or not. i know candles themselves can be used for this and EVERYTHING actually, but this helps a lot.
MACD: Emas that look better on another window then on your chart. i use macd to help me notice divergence between price action and know if a trend is about to change.
Here is an example of my chart with them.
This is not a recommended system for everyone. This is personal preference.
i trade on price. I DONT TRADE BASED ON INDICATOR. LOOK AND F-ING ANALYZE PRICE FIRST THEN LOOK AT YOUR DAMN INDICATORS.
The silver chart would show WHAT PRICE IS SAYING, AND WHAT INDICATORs sAY.
EUr/usd chart show current situation.
ANY QUESTIONS? ASK!!!!
but READ FIRST, COMPREHEND.
this is not a trading systems thread, this is just sharing knowledge from one trader to another.
If you already have a successful system, DONT SWITCH IT FOR MY SHIT!! THIS IS WORKING ON ME, but what are the chances of it working ON YOU?
so think twice before changing systems.
-Buy when indicator level is at 50.
-Sell when the lines meet.
-Buy when they crossover, blah blah blah.
that is useless. The mistake many make when using indicators is that they LOOK at their indicators and decide UPON THEM INSTEAD OF PRICE!!!!!!
I noticed that in forex we can't know what exact volume is traded so i decided to use a few indicators to help me with volume studies.
Dont use indicators as a tool to help you buy or sell. to me these indicators im using help me help indicate PRiCE. these indicators dont indicate direction in my POV, and i use them for specific reasons:
Ichimoku custom (i deleted some of the less useful stuff, such as the tenkan sen 9 period ma.) I kept the cloud (the most useful), and the kijun sen, the 26 period Ma. I also kept the chikou span, the lagging line to help me to know if price looks to range, or trend.
I use ichimoku to identify, trending, ranging, reversal markets, and possible sup/res levels.
RSI: I use the Relative Strength Index to connect with my chart, if a particular instrument has made a decision to go one way.
Volumes: Simple indicator. i use this indicator to identify when a move has lots of volume or not. i know candles themselves can be used for this and EVERYTHING actually, but this helps a lot.
MACD: Emas that look better on another window then on your chart. i use macd to help me notice divergence between price action and know if a trend is about to change.
Here is an example of my chart with them.
This is not a recommended system for everyone. This is personal preference.
i trade on price. I DONT TRADE BASED ON INDICATOR. LOOK AND F-ING ANALYZE PRICE FIRST THEN LOOK AT YOUR DAMN INDICATORS.
The silver chart would show WHAT PRICE IS SAYING, AND WHAT INDICATORs sAY.
EUr/usd chart show current situation.
ANY QUESTIONS? ASK!!!!
but READ FIRST, COMPREHEND.
this is not a trading systems thread, this is just sharing knowledge from one trader to another.
If you already have a successful system, DONT SWITCH IT FOR MY SHIT!! THIS IS WORKING ON ME, but what are the chances of it working ON YOU?
so think twice before changing systems.
Have I got something on my face, SOLDIER?
