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Why so many indicators, oscillators, and tools on charts

  • #61
  • Aug 23, 2014 4:33am Aug 23, 2014 4:33am
Quoting TEB63
how many tools do you need -I could at lest 17 tools on this chart {image}
As many as it takes... Its a very naive person to believe that profitability only comes from one narrow band of trade model..
Memories caught in time but never forgotten
  • #62
  • Aug 23, 2014 7:05am Aug 23, 2014 7:05am
I'm trading only with price action. I'm not using any indicators and it is working great!
Trading is Simple but not Easy
  • #63
  • Aug 23, 2014 8:19am Aug 23, 2014 8:19am
hi just a question, I am still studying forex trading and I came across algo-trading and automated trading simulator.
which is more efficient to use between the two? anyone experience using this two?

please let this message through, can't find the right forum to post this. just need answers. thank you in advance
  • #64
  • Aug 23, 2014 11:09am Aug 23, 2014 11:09am
I like clean charts thatīs why I only use a few indicators
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  • #65
  • Aug 23, 2014 11:27am Aug 23, 2014 11:27am
If those tools gives you pips, there is no shame to use it.

I know that going clean and naked would destroy my account....
  • #66
  • Aug 23, 2014 11:35am Aug 23, 2014 11:35am
  •  FerruFx
  • Joined May 2007 | Status: MT4/MT5 EAs/Indicators/Alerts coder | 6,542 Posts | Online Now
Quoting RabbitWolf
If those tools gives you pips, there is no shame to use it. I know that going clean and naked would destroy my account....
No matter how naked or how many indicators you have on chart ... the important is to know how to use what you see on your chart ... and to make it yours in order to be profitable.
MT4/MT5 EAs/Indicators/Alerts coder
  • #67
  • Aug 23, 2014 11:45am Aug 23, 2014 11:45am
LOL

ok this is a little silly
all this is where you get in lol
I could teach a monkey to find a good entry
the issue is not the in

its the out - the stop loss and take target
and with a bunch of lights or 50 tools this is impossible to figure out
this is the main issue

cheers

teb
  • #68
  • Aug 23, 2014 11:46am Aug 23, 2014 11:46am
Quoting FerruFx
{quote} No matter how naked or how many indicators you have on chart ... the important is to know how to use what you see on your chart ... and to make it yours in order to be profitable.

  • #69
  • Aug 24, 2014 4:55pm Aug 24, 2014 4:55pm
ho for heaven sakes - how many tools do you need -
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  • #70
  • Aug 24, 2014 7:23pm Aug 24, 2014 7:23pm
day trades I hope are tonight taken out

again two tools
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  • #71
  • Aug 25, 2014 7:11am Aug 25, 2014 7:11am
Quoting TEB63
LOL ok this is a little silly all this is where you get in lol I could teach a monkey to find a good entry the issue is not the in its the out - the stop loss and take target and with a bunch of lights or 50 tools this is impossible to figure out this is the main issue cheers teb

you have a lot of different indicators, based on true different formulas which can help you to identify loss of power,vigor in the movement,etc

perhaps you can't accept it but your eyes, brain are so much slower than computer to analyze thousands of informations and so you can't do it in few milliseconds like a computer ,

and btw, i'm using only indicators ( with some basics MM considerations ) to close my trades and it works like a charm.

that's really pure non-sens , non logical that indicators could find where entering but not where it's time to close !
  • #72
  • Aug 26, 2014 3:49pm Aug 26, 2014 3:49pm
last post - going on vacation
two tools and that is it -
two trades one on the day and one on the hour chart

cheers
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  • #73
  • Aug 26, 2014 5:38pm Aug 26, 2014 5:38pm
There are so many indicators, oscillators among other tools these days. The MACD, Stochastic, Custom are popular options. But this is not an unexpected upcoming. I have always known automated trading with deep technical analysis expertise is one day going to take the stage for long. It really helps having signal to watch for a break of support- just as this helps when random fluctuations are smoothed reducing the headache of recognizing a trend.
  • #74
  • Edited 6:46am Aug 28, 2014 6:33am | Edited 6:46am
2 tools and 4 trades and over 250

I think anyone that thinks they can use tools faster humans can think will get killed!!!!!!
The reason is you are moving into a race you will always lose.

If you use any tool (no matter the number)
the way everyone else does when everyone else does
you will be killed!!
A little thing called super computers with eat you and your lunch (LOL)
That is why the more tools the worse for you are moving into their boxing ring
and where you will be boxing their are Ultimate Fighters ko LOL LOL
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  • #75
  • Aug 28, 2014 6:40am Aug 28, 2014 6:40am
Quoting TEB63
2 tools and 4 trades and over 250 I think anyone that thinks they can use tools faster humans can think will get killed!!!!!! The reason if you are moving into a race you will always lose. If you use any tool (no matter the number) the way everyone else does when everyone else does you will be killed!! A little thing called super computers with eat you and your lunch (LOL) That is why the more tools the worse for you are moving into their boxing ring and where you will be boxing their are Ultimate Fighters ko LOL LOL {image}
  • #76
  • Aug 28, 2014 7:28am Aug 28, 2014 7:28am
  •  FerruFx
  • Joined May 2007 | Status: MT4/MT5 EAs/Indicators/Alerts coder | 6,542 Posts | Online Now
Quoting TEB63
2 tools and 4 trades and over 250 I think anyone that thinks they can use tools faster humans can think will get killed!!!!!! The reason is you are moving into a race you will always lose. If you use any tool (no matter the number) the way everyone else does when everyone else does you will be killed!! A little thing called super computers with eat you and your lunch (LOL) That is why the more tools the worse for you are moving into their boxing ring and where you will be boxing their are Ultimate Fighters ko LOL LOL {image}
Perfectly! You created what works for you ... That's exactly what each of us has to do in order to find his own way of profit.

There are infinite ways to be profitable ... Find yours ... and stick to it.
MT4/MT5 EAs/Indicators/Alerts coder
  • #77
  • Aug 28, 2014 8:04am Aug 28, 2014 8:04am
I think one needs to look at why we are using tools
two tools telling you the same thing is the issue and very bad

but other tools may be good
ie, one may use Volume or ATR (ADR) to get a sense market
Supply and demand to see were the big boys are
etc

the point is, at the point of the trade
to decide to enter two tools is all you need
  • #78
  • Aug 30, 2014 4:13pm Aug 30, 2014 4:13pm
Quoting TEB63
last post - going on vacation two tools and that is it - two trades one on the day and one on the hour chart cheers {image}
Hi teb!
Could you explain a little bit about your system...
I understand the BB part but ...
Rgds
Brane
  • #79
  • Aug 30, 2014 5:38pm Aug 30, 2014 5:38pm
Two tools to enter/exit trades. The first tool determines if a candle is good for a entry or exit and the second tool determines if prices are at an acceptable level to accumulate/distribute within that candle.

A couple other tools are used for continually monitoring the market trend and strength to determine good entries and if to continue holding a position or distribute it.
"Don't fear a bubble until it starts to burst."
  • #80
  • Aug 31, 2014 1:55pm Aug 31, 2014 1:55pm
well its very simple
(a) 60 for trend
(b) BBB for over bought / over sold
(c) Stops and Targets are SDZ (Supply /Demand zones)

this is my the secondary system I use.

I have used it for years
The tools really matter little
(a) A Big MA for trend ( I sometimes use 20 RSI)
(b) The trigger is a BB ( I often use a CCI)
its really all the same for the most part

cheers
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