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Why so many indicators, oscillators, and tools on charts

  • #81
  • Aug 31, 2014 2:06pm Aug 31, 2014 2:06pm
Quoting TEB63
the chart above is a real chart people uses I would not know where to begin to look let alone trade {image}

On this particular chart It is very clear market makers intention .......from there you go.
The Market pays you to be disciplined
  • #82
  • Aug 31, 2014 2:25pm Aug 31, 2014 2:25pm
Quoting ShanghaiMoon
... like using a TDI with Stochs with an RSI and then a macd too when they all basically look the exact same and tell you the same things, over bought and over sold. ....
Different people need different way (stochastic , rsi...) of presentation to understand same thing....nothing wrong with that.
The Market pays you to be disciplined
  • #83
  • Aug 31, 2014 7:37pm Aug 31, 2014 7:37pm
Quoting mima
{quote} On this particular chart It is very clear market makers intention .......from there you go.

lol ... yes is that not the point.
what are you saying or asking?
  • #84
  • Aug 31, 2014 7:48pm Aug 31, 2014 7:48pm
Quoting mima
{quote} Different people need different way (stochastic , rsi...) of presentation to understand same thing....nothing wrong with that.
I agree but the issue is when you use stoch and RSI to look at and so judge the something(s)
then I think it is both unneeded and confusing and so hurtful to trading
if they are telling you different things - great
  • #85
  • Aug 31, 2014 9:46pm Aug 31, 2014 9:46pm
TEB when you mention 60 (or whatever) for trend refers to the angle, the position of the price relative to the MA, both? tks
Humble & Kalcker CLO2 = Covid killer
  • #86
  • Sep 1, 2014 12:08am Sep 1, 2014 12:08am
Too much information overwhelms and confuses a person.
Too little information makes him uncertain.
Correct amount of information (may be different for each individual) leads to certainty and workable decisions.
One has to be able to evaluate and interpret the information he is receiving before it is of any value to him.
That is attained by observation, and making assumptions which are proven right or wrong by more observations.
Consistently profitable performances are achieved through working on certainties one has gained about the market.
  • #87
  • Edited 4:58am Sep 1, 2014 4:01am | Edited 4:58am
n
Quoting jusiur
TEB when you mention 60 (or whatever) for trend refers to the angle, the position of the price relative to the MA, both? tks



mostly angle- you want it clear
1. Price moving a little on the wrong side of the MA is ok - only 1st or 2nd time though
2. a "1 2 3 break" against the trend beyond the MA and I would be out for sure
3. Better of course is when price is moving away from the MA in the direction of the trend
4. The 1st or 2nd time the MA flattens, you may still trade but be careful more then that I would not
  • #88
  • Sep 1, 2014 9:35am Sep 1, 2014 9:35am
Quoting TEB63
n{quote} mostly angle- you want it clear 1. Price moving a little on the wrong side of the MA is ok - only 1st or 2nd time though 2. a "1 2 3 break" against the trend beyond the MA and I would be out for sure 3. Better of course is when price is moving away from the MA in the direction of the trend 4. The 1st or 2nd time the MA flattens, you may still trade but be careful more then that I would not

TEB Thanks for your kind reply, and supposed it because took me months studying your systems which I love.
Is there any way to quantify the MA angle? (to avoid discretion, at least while I train my eyes), for example with this tool? If so, it would be very important to know what angles ranges you consider appropriate to establish whether we are in the right (up/down/flat) trend based on 60/50 MA. tks
Humble & Kalcker CLO2 = Covid killer
  • #89
  • Sep 1, 2014 6:40pm Sep 1, 2014 6:40pm
Quoting jusiur
{quote} TEB Thanks for your kind reply, and supposed it because took me months studying your systems which I love. Is there any way to quantify the MA angle? (to avoid discretion, at least while I train my eyes), for example with this tool? If so, it would be very important to know what angles ranges you consider appropriate to establish whether we are in the right (up/down/flat) trend based on 60/50 MA. tks

I have seen tools for it but I don't think you need one
keep it simple if you cannot a very clear angle its not there - so do not trade
most times the it will flatten out two or three times then you get a trend change.
of coarse it could be 1 or 10 or 20 but most times 2 or 3

ps. I do use a 20sma to help judge the 60/50sma
  • #90
  • Sep 1, 2014 8:56pm Sep 1, 2014 8:56pm
strange night
one win one loss
Attached Image (click to enlarge)
Click to Enlarge Name: monday night aa.PNG Size: 104 KB
  • #91
  • Sep 1, 2014 9:44pm Sep 1, 2014 9:44pm
Quoting hayseed
{quote} //----- and using too few might land some of us on the wrong side of that proverbial 90% line..... i probably use more indicators than anyone..... few would believe how many......however, they are not displayed in the common manner but instead in a whole market view in an easy to grasp manner..... just wingdings and numbers.... it's very seldom i even look at the standard price chart...... even 50 indicators can be reduced down to colored dots..... lime buy..... red sell...... blue wait...... how much more difficult do we need to make it.......h...
agree with this, to create indicator that sum up all the redundant work of managing 50 indicators.
just a bit more, and it became automated trading.

in lower level, even simple average line are combination of high, low and time

i feel de ja vu, do i ever read this somewhere.....
  • #92
  • Sep 4, 2014 9:51am Sep 4, 2014 9:51am
Quoting Gwan
{quote} agree with this, to create indicator that sum up all the redundant work of managing 50 indicators. just a bit more, and it became automated trading. in lower level, even simple average line are combination of high, low and time i feel de ja vu, do i ever read this somewhere.....

I am not sure what you are saying ?
if you are saying 50 plus tool is a good idea - I would say that is insane;

2 or 3 tools on one time frame is all that is needed
or 1 tools on 3 time frames is all you need

the main issue is people want a short cut to being able to read chart &/or the market
takes 4 or 5 years of school to learn to read with everyone on your side not trying to rob you
why would it take less time to learn to read a chart?


all the tools do is give you an edge
but --- and you must understand this--- is the tools all same the something its the same edge- but confusing
Attached Image (click to enlarge)
Click to Enlarge Name: 3 tools.PNG Size: 109 KB
  • #93
  • Oct 17, 2014 9:21pm Oct 17, 2014 9:21pm
you know its to bad this thread died
I think it could have saves a lot of money to a lot of people
  • #94
  • Oct 17, 2014 11:12pm Oct 17, 2014 11:12pm
Why not just use 1 indicator which contains all the benefits of all the 50 indicators and discards all the defects of the 50 indicators, and sort of creates a super indicator which is balanced for the lag yet its accuracy is also high.
"There's a sucker born every minute" - P.T. Barnum
  • #95
  • Edited 6:05am Oct 18, 2014 4:40am | Edited 6:05am
Quoting Proximus
Why not just use 1 indicator which contains all the benefits of all the 50 indicators and discards all the defects of the 50 indicators, and sort of creates a super indicator which is balanced for the lag yet its accuracy is also high.

I agree with you totally!!
you know there is such a tool -
but it takes a great deal of training to work with it though
its well known and used by the pros
but most retail traders would never take the time to trade with it or use at all
  • #96
  • Oct 18, 2014 5:11am Oct 18, 2014 5:11am
the point of the thread was simple is better
but more to the point most traders are using tools
the wrong way and think the more tools the better
they really do not understand what the tool(s) is saying

ie. if an electrician when out - he may have the greatest tools in the world
but if he does not understand the tools
he will have great lose
lose of the home
or even life

tools do not make up for knowledge
cheers
  • #97
  • Oct 18, 2014 1:07pm Oct 18, 2014 1:07pm
Quoting TEB63
{quote} I agree with you totally!! you know there is such a tool - but it takes a great deal of training to work with it though its well known and used by the pros but most retail traders would never take the time to trade with it or use at all
Yes i`m working on one right now, but not in the sense that i take 50 indicators and put it together like if it were an alchemy recipe and by mixing 50 pieces of junk into gold, that works only in fairytales. In real world if you mix 50 pieces of crap, you get a bigger pile of crap.

So I rather start from scratch and build my own super indicator from nothing, instead of hopefully adjusting the already flawed retail indicators to become somehow a holy grail.
"There's a sucker born every minute" - P.T. Barnum
  • #98
  • Oct 18, 2014 1:28pm Oct 18, 2014 1:28pm
https://petitions.whitehouse.gov/pet...ading/KkJgLBky
DON'T TRADE THE DIRECTION, TRADE THE MOVE
  • #99
  • Oct 18, 2014 5:39pm Oct 18, 2014 5:39pm
Quoting Proximus
{quote} Yes i`m working on one right now, but not in the sense that i take 50 indicators and put it together like if it were an alchemy recipe and by mixing 50 pieces of junk into gold, that works only in fairytales. In real world if you mix 50 pieces of crap, you get a bigger pile of crap. So I rather start from scratch and build my own super indicator from nothing, instead of hopefully adjusting the already flawed retail indicators to become somehow a holy grail.
lol
I was speaking of the human brain
  • #100
  • Oct 18, 2014 6:46pm Oct 18, 2014 6:46pm
Quoting TEB63
{quote} lol I was speaking of the human brain
But what is the difference between a properly adjusted artificial intelligence and a human brain ? Well if the indicator is "smart" ,then nothing, it has the same pattern recognition function than the human brain has.

+It's much faster, and it can process more data than a conscious brain can (the unconscious brain is really hard to master, so i would not trust it)
+It removes totally the emotional side.

Win - win situation, i would choose the artificial method.
'
"There's a sucker born every minute" - P.T. Barnum
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