Almost all of us are indicator-traders. Very few of us trading naked; purely on price action without the help of any indicator. The rest somehow feel comfortable if there are visual indicators which help their decision in entering and exiting the market. It is as if the indicators give them an added security, regardless of whether they are justified or not.
We all know the fallacies of technical analysis. I'm not here to discuss the pros and cons of indicators. But I do want to know more about the existence of the so called "secret" indicator, and more importantly the usefulness of such indicator. Somehow, some of use think that they own a special, custom-made indicator that no one else has, and it constantly beats the market. The first response from people to such a claim is usually "must be a repainter scam," or "why would someone sell or show it to anyone?" But I have yet to find a solid evidence that completely obliterates the possibility of such indicator to exist. As they say, "absence of evidence is not evidence of absence."
Let's assume such indicator exists. Now, it is a well established fact that retail traders are simply incapable to influence the global price movement. The major players alone are responsible for every movement in the forex market. And logic says, the more common the indicator, the more major players will be using it as a buy or sell indicator, the more useful it becomes as we are following the major herd. So the question becomes:
What's the point of using a secret indicator that no one knows about, no one uses, and particularly, no one will react to?
The only way that a secret indicator can work is if it is able to detect the movement of the major players. If such indicator exist, than it is worth searching or building for.
Voting question: Do you have a secret indicator that no one knows about, but works consistently in making you money?
Btw, I found these pictures from someone who boasts to having secret indicators that work consistently. Looks neat. But this cheeky bugger censored the name of the indicator, giving the biggest clue that he/she is not the coder of these indicators, giving us hope of finding them ourselves. Anyone knows about these?
We all know the fallacies of technical analysis. I'm not here to discuss the pros and cons of indicators. But I do want to know more about the existence of the so called "secret" indicator, and more importantly the usefulness of such indicator. Somehow, some of use think that they own a special, custom-made indicator that no one else has, and it constantly beats the market. The first response from people to such a claim is usually "must be a repainter scam," or "why would someone sell or show it to anyone?" But I have yet to find a solid evidence that completely obliterates the possibility of such indicator to exist. As they say, "absence of evidence is not evidence of absence."
Let's assume such indicator exists. Now, it is a well established fact that retail traders are simply incapable to influence the global price movement. The major players alone are responsible for every movement in the forex market. And logic says, the more common the indicator, the more major players will be using it as a buy or sell indicator, the more useful it becomes as we are following the major herd. So the question becomes:
What's the point of using a secret indicator that no one knows about, no one uses, and particularly, no one will react to?
The only way that a secret indicator can work is if it is able to detect the movement of the major players. If such indicator exist, than it is worth searching or building for.
Voting question: Do you have a secret indicator that no one knows about, but works consistently in making you money?
Btw, I found these pictures from someone who boasts to having secret indicators that work consistently. Looks neat. But this cheeky bugger censored the name of the indicator, giving the biggest clue that he/she is not the coder of these indicators, giving us hope of finding them ourselves. Anyone knows about these?
Attached Image(s) (click to enlarge)
) I wouldn't worry about new good looking techniques or indicators and really concentrate on psychology of the markets and yourself.
. Thought the thread was interesting enough to comment on. Good luck with all your trading!
