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  • #591,661
  • Feb 4, 2012 3:12pm Feb 4, 2012 3:12pm
Quoting X.Oden
Here you go....nothing complicated..
Maybe price needs, in first, go to that blue line above and than is prepared to five wave.
  • #591,662
  • Feb 4, 2012 3:12pm Feb 4, 2012 3:12pm
Quoting gametheory
If one wants to know how useless indicators are..then do this:

Get the charts of AUD/GBP and also GBP/AUD. Apply indicators MAs MACD..s and all those. Now you will notice differences in signals..but the pairs are same! Then go further to change timeframes and all that...then ask yourself..since trading is by concensus is the majority using my indicator and/or my timeframe?? The sooner one begins to answer this question the sooner one comes to term with the reality
thanks dr nash lol
  • #591,663
  • Feb 4, 2012 3:14pm Feb 4, 2012 3:14pm
Quoting gametheory
If one wants to know how useless indicators are..then do this:

Get the charts of AUD/GBP and also GBP/AUD. Apply indicators MAs MACD..s and all those. Now you will notice differences in signals..but the pairs are same! Then go further to change timeframes and all that...then ask yourself..since trading is by concensus is the majority using my indicator and/or my timeframe?? The sooner one begins to answer this question the sooner one comes to term with the reality
Not all indicators are useless, noob retailers just don't know why they are used or how to use them. Indies are only tools and IMO should not be used as signals for entry and exit, only to mathematically measure price in relation to something else. For example, MA's and bollinger bands are used to measure the standard deviation from the mean but a lot of retailers rely on them as a signal.

........... I can't believe I am on the EURUSD thread.....
  • #591,664
  • Feb 4, 2012 3:19pm Feb 4, 2012 3:19pm
Quoting Tyoon
....

........... I can't believe I am on the EURUSD thread.....
Don't worry, you meet the qualification requirements to post on this elite thread.
The Thief of Wall Street
  • #591,665
  • Feb 4, 2012 3:21pm Feb 4, 2012 3:21pm
Quoting Chicky
Don't worry, you meet the qualification requirements to post on this eilite thread.
No offence, but I hope not.

Kidding, I remember I started out here then thanks to good old cloggs realized I needed to focus my attention to other parts of this forum if I intend to improve my trading
  • #591,666
  • Feb 4, 2012 3:22pm Feb 4, 2012 3:22pm
Quoting Tyoon
Not all indicators are useless, noob retailers just don't know why they are used or how to use them. Indies are only tools and IMO should not be used as signals for entry and exit, only to mathematically measure price in relation to something else. For example, MA's and bollinger bands are used to measure the standard deviation from the mean but a lot of retailers rely on them as a signal.

........... I can't believe I am on the EURUSD thread.....
Hey..you are correct. Not all are useless. Pls understand English is not my first LOL.
Oscillators are good to detect deviation from mean for highly correlated spreads..among others. But using those as entry signals or reliance for trading dont simply work.
  • #591,667
  • Feb 4, 2012 3:27pm Feb 4, 2012 3:27pm
Quoting gametheory
Hey..you are correct. Not all are useless. Pls understand English is not my first LOL.
Oscillators are good to detect deviation from mean for highly correlated spreads..among others. But using those as entry signals or reliance for trading dont simply work.
BTW, your broker feeds you AUDGBP? I had no idea AUD was a base for GBP.

Could you post a chart of AG and GA to see the comparison? I thought having an AG would be useless because we already have GA.
  • #591,668
  • Feb 4, 2012 3:35pm Feb 4, 2012 3:35pm
Quoting Tyoon
BTW, your broker feeds you AUDGBP? I had no idea AUD was a base for GBP.

Could you post a chart of AG and GA to see the comparison? I thought having an AG would be useless because we already have GA.
you can test this on many many free sites if you dont have access to the crosses. It is common to see gbp/eur, eur/gbp, aud/eur, eur/aud, gbp/aud, aud/gbp...and many others offered by brokers.
One such site is forexpros.com
  • #591,669
  • Feb 4, 2012 3:40pm Feb 4, 2012 3:40pm
indicators will kill you... we can trade, and successful traders do trade without any indicators...i totally agree that the keys to succeeding are all about psychology. please read this. it's about the ultimate keys to succeed in Forex
http://www.yen-to-pounds.net/The-Ult...l-Trading.html
  • #591,670
  • Feb 4, 2012 3:48pm Feb 4, 2012 3:48pm
Quoting Tyoon
No offence, but I hope not.

Kidding, I remember I started out here then thanks to good old cloggs realized I needed to focus my attention to other parts of this forum if I intend to improve my trading
LOL.

Every poster is a unique character in this circus.
The Thief of Wall Street
  • #591,671
  • Feb 4, 2012 3:52pm Feb 4, 2012 3:52pm
I want to see your data on why you think that is. Its not to farfetched that we can go back to 2600 area, not alone the 2900. I can see a daily double bottom formation very easily at arounf 2600 after bouncing from this current fib level. I mean, it happens all the time.

Quoting MaynoothBlue
Your dreaming, we aint going back to 1.29, this is going to 1.35 and higher
Please do not vouch for me.
  • #591,672
  • Feb 4, 2012 3:54pm Feb 4, 2012 3:54pm
Quoting gametheory
you can test this on many many free sites if you dont have access to the crosses. It is common to see gbp/eur, eur/gbp, aud/eur, eur/aud, gbp/aud, aud/gbp...and many others offered by brokers.
One such site is forexpros.com
I don't think AG exists mate. Not even on that site you mentioned.

Quoting dailyking
indicators will kill you... we can trade, and successful traders do trade without any indicators...i totally agree that the keys to succeeding are all about psychology.
Guys, stop beating up indies. They are called indicators for a reason, they indicate, not dictate. Use clean charts to start with, then use indies to answer any questions you may have in regards to price and it's movement.
  • #591,673
  • Feb 4, 2012 3:58pm Feb 4, 2012 3:58pm
Look, indicators can be a good thing. Its just people use them on smaller timeframes and they are not meant for that. Its silly to use an indy on anything below the daily. However, on a Daily chart indicators are a wonderful thing.

I dont know who is putting down these indys, but they better go back to school because they dont know what they are talking about.

Bottom line, dont use them on smaller timeframes because the action is to quick.
Please do not vouch for me.
  • #591,674
  • Feb 4, 2012 4:13pm Feb 4, 2012 4:13pm
Hey guys, here is something I would like to share with you all. This is an excellent Pivot point Indy that actually can be used and works great in determining support and res. This is one of the few that can be used on the lower time frames. 1 Hr is the best. Try it!
Attached File(s)
File Type: mq4 AJ Pivots.mq4   43 KB | 363 downloads
Please do not vouch for me.
  • #591,675
  • Feb 4, 2012 4:14pm Feb 4, 2012 4:14pm
Quoting dailyking
indicators will kill you... we can trade, and successful traders do trade without any indicators...i totally agree that the keys to succeeding are all about psychology. please read this. it's about the ultimate keys to succeed in Forex
http://www.yen-to-pounds.net/The-Ult...l-Trading.html
Try telling that to James Chen

certainly psychology plays a huge part in trading success, just reading "Trading In The Zone" made a big difference for me, but something is still required to trigger a trade, don't you agree?

Do you get paid by hits to that website as you seem to be posting it a lot?

It takes a lot for me to IGNORE you, but you can try.
  • #591,676
  • Feb 4, 2012 4:23pm Feb 4, 2012 4:23pm
Quoting spillini
Look, indicators can be a good thing. Its just people use them on smaller timeframes and they are not meant for that. Its silly to use an indy on anything below the daily. However, on a Daily chart indicators are a wonderful thing.

I dont know who is putting down these indys, but they better go back to school because they dont know what they are talking about.

Bottom line, dont use them on smaller timeframes because the action is to quick.
So day traders shouldn't use indicators. Is that correct ?
  • #591,677
  • Feb 4, 2012 4:24pm Feb 4, 2012 4:24pm
Quoting spillini
Look, indicators can be a good thing. Its just people use them on smaller timeframes and they are not meant for that. Its silly to use an indy on anything below the daily. However, on a Daily chart indicators are a wonderful thing.

I dont know who is putting down these indys, but they better go back to school because they dont know what they are talking about.

Bottom line, dont use them on smaller timeframes because the action is to quick.
Man I am posting a lot on this thread tonight.

Oscillators are simply math calculations based on current and/or past price. This then suggests that it does not matter what TF you use them on. Price is fractal, meaning that no matter what TF you are on price generally behaves the same therefore oscillators will derive the same thing.

As I said, you need to know how and why they are calculated to gain any benefit from them. Some traders use them as confluence but that is just a comfort thing.

Many things in TA is illusionary. As I said many times, if indies are misused they are illusionary. But the next thing is understanding how TFs and candles are also illusionary. The open/close function in TFs really fuck with traders and until you understand them properly you will be under the influence of smokes and mirrors.

Commercial and marketing fuckers love fucking with you by misusing indies, TFs and candles. Who said 'ignorance is bliss'? Not in this business.
  • #591,678
  • Feb 4, 2012 4:30pm Feb 4, 2012 4:30pm
Quoting Tyoon
Not all indicators are useless, noob retailers just don't know why they are used or how to use them. Indies are only tools and IMO should not be used as signals for entry and exit, only to mathematically measure price in relation to something else. For example, MA's and bollinger bands are used to measure the standard deviation from the mean but a lot of retailers rely on them as a signal.

........... I can't believe I am on the EURUSD thread.....
Tools for what ?
  • #591,679
  • Feb 4, 2012 4:31pm Feb 4, 2012 4:31pm
Quoting Tyoon
I don't think AG exists mate. Not even on that site you mentioned.

.
All pairs and their inverses exist! Many see usd/jpy while others use jpy/usd
  • #591,680
  • Feb 4, 2012 4:34pm Feb 4, 2012 4:34pm
All I can say is if you are using the daily to determine direction, then yes, by all means. But to scalp, I wouldnt do it because there are so many other things at your disposal.

I shouldn't have said any or all indys. There are some but I wouldnt trade my good money using say and stochastic indicator to trade a 15 min timeframe....thats ludicrous.

Quoting thevadd
So day traders shouldn't use indicators. Is that correct ?
Please do not vouch for me.
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