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5 years and still no strategy

  • #1,021
  • May 3, 2017 10:12am May 3, 2017 10:12am
Quoting dukas_trader
{quote} indicators are nothing more then price calculated in different way. you need to know always why it is calculated in this way, what are the advantages and disadvantages and you need to do this calculation manuell too to understand what it will exactly calculate. all indicators can be used or are worthless, depends what someone is looking for, and what he wants to avoid. "95% of the time price closes above or bellow the open. ". i dont understand this sentence, of course price will do this, depends on timeframe of course. in 1 min not 95 %...
For me a timeframe is a period which I trade.
For example if im trading a daily timeframe, than im looking at the intraday prices from m5/m15.

However when speaking about actual timeframes as seen in mt4, for example - m30,h1,h4,d1.
It only makes sense to me to use the traditional indicators on d1 only (the indicator must calculate from d1 ohlc bars only). The settings seem logically fit only for d1 bars.

I've got that idea from the 60 minute moving average on m1 bars.
Why 60 and not 20 or 50? Because it takes 60 bars from m1 to form one h1 bar. And it seems to me logical to view the average of the hourly period from m1.

I've begin to consider most traditional indicator ideas great. However I believe that for example the momentum indicator should only be used on say 10 last daily candles, calculated from the d1 bars. However trading the information it gives, is more logical to me from shorter timeframes.


My issue though is based around the 52weekly period (52 weeks make a year) high/low (a popular technique used in stocks.).

I consider it dynamic because with each current day, it looks at 52 weeks of data ago.

However I preffer a static aproach. Which in this case could be considering the evolution of highs/lows from the 1st of january to the 31st of december.

Just like one can trade the evolution of the daily candle from its open to its close, rather than using a dynamic approach of 1440 period high/lows from m1.

I realise that my explanation is not clear enough. By high/low i consider something similar to the donchian channel. However I thought that i might hain something from writing my idea in this currently popular thread
The truth is hidden from you
  • #1,022
  • May 3, 2017 10:14am May 3, 2017 10:14am
Simply put I believe that indicators are just not used right by many, due to the lack of understanding - What and Why were the creators trying to calculate
The truth is hidden from you
  • #1,023
  • May 3, 2017 10:37am May 3, 2017 10:37am
Quoting MaxenshteinD
Simply put I believe that indicators are just not used right by many, due to the lack of understanding - What and Why were the creators trying to calculate
And lack of understanding by the creators.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,024
  • May 3, 2017 11:16am May 3, 2017 11:16am
Quoting TooSlow
{quote} And lack of understanding by the creators.
Most of the creators though mastered the most basic things though, before developing such tools. Such as support&ressistance etc. While most traders jump on more advanced things before getting the basics right.
The truth is hidden from you
  • #1,025
  • Edited 1:22pm May 3, 2017 11:38am | Edited 1:22pm
Quoting CrucialPoint
Farewell and Good-Bye FF {quote} And so shall I... I've said good bye once, twice... I guess this will be the third and final good-bye (not due to FF or other OP)... I wish everyone the best and good luck in their trading. DO NOT GET SCAMMED Farewell and Goodbye. Peace, CrucialPoint
no need to move away.. its good to have "void" to lean on. keep up

Quoting CindyXXXX
{quote} At the end of the day its a selfish philosophy, but you're not alone, and i know you mean well good luck my friend https://youtu.be/VAiOjxkCS0g
good song
  • #1,026
  • May 3, 2017 12:02pm May 3, 2017 12:02pm
Quoting MaxenshteinD
Simply put I believe that indicators are just not used right by many, due to the lack of understanding - What and Why were the creators trying to calculate
The simplest way to use indicators that i know can work is choosing a moving average or a few to determine the trend and then an oscillator like cci or rsi to tell you when to enter. for example if the moving average is going up, then you buy the market when cci or rsi comes out of the oversold zone and vice versa for selling the market.

So basically what these indicators do is help you get in when price is oversold in an uptrend and when price is overbought in a downtrend.
  • #1,027
  • May 3, 2017 12:11pm May 3, 2017 12:11pm
Quoting RondaRousey
{quote} WTF. What source are you using to claim that in order to use stop losses you need to be correct 30% of the time?
If you don't want to believe me keep searching. If you find a pattern you can be right may be 50+% of the time, the problem with pattern trading is that you have to constantly evolve your strategy. Cause the success of a pattern carries the weights of its success. Trading is tough, day trading is very very tough. Think about it, if it were any easier paul tudor jones, kovner,etc will be zillionnaires. Day trading is emotionally exhausting, days in a drawdown, frustration of your account stagnating for long, its very very hard.
Special one
  • #1,028
  • May 3, 2017 12:23pm May 3, 2017 12:23pm
This is best thread I have seen in a while. It has something for everyone. Started by a trader contemplating quitting as a trader, something everyone has thought, maybe more than once!

Then the the advice givers stepped in, many giving trade advice, opinions, and the don't give up speeches.

After that, a virtual hockey game broke out where posters were going fisticuffs over each others opinions.

Then it has settled into a relaxation thread where people post videos, some nice, some offensive, some hysterical.

Now is has become more philosophical, which was what I recommended to freakout in my first post on this thread. And hopefully freakout is busy now trying to get his/her mind right because the mental aspect is more important the trading skills. A trader with average skills but the right mindset can win and earn a decent living, maybe a fortune. A trader with superb trading skills but the wrong mindset will either parish through lack of trades, or more likely, will blow up account after account by overtrading until they quit in disgust.
------------------
We now return to our regularly scheduled program.
Ecclesiastes 1:9
  • #1,029
  • May 3, 2017 12:50pm May 3, 2017 12:50pm
Quoting newbegger
This is best thread I have seen in a while. It has something for everyone. Started by a trader contemplating quitting as a trader, something everyone has thought, maybe more than once! Then the the advice givers stepped in, many giving trade advice, opinions, and the don't give up speeches. After that, a virtual hockey game broke out where posters were going fisticuffs over each others opinions. Then it...
ESPN anchor on Forum
  • #1,030
  • May 3, 2017 3:58pm May 3, 2017 3:58pm
Quoting newbegger
{quote} my mindset shifted from - the market is not doing what I expected it to do, to - im not doing what the market expects me to do. That is the holy grail
does the market even care about you ?
  • #1,031
  • May 3, 2017 4:34pm May 3, 2017 4:34pm
Quoting metta87
{quote} does the market even care about you ?
The market has no feelings or emotions. It just is.
Ecclesiastes 1:9
  • #1,032
  • May 3, 2017 4:40pm May 3, 2017 4:40pm
Quoting newbegger
{quote} The market has no feelings or emotions. It just is.
but then, what does the market expect of you ?
  • #1,033
  • Edited 5:40pm May 3, 2017 5:24pm | Edited 5:40pm
Quoting metta87
{quote} but then, what does the market expect of you ?
Feel free to ask the person I was quoting. I am not sure I can explain to you. Then, perhaps I can explain to you why I wrote "That is the holy grail"

Edit - never mind. I can see by some of your last posts, you just ask dull-witted questions and I guess get some sort of satisfaction if you can get someone to say something stupid. Good luck with that.
Ecclesiastes 1:9
  • #1,034
  • May 3, 2017 6:02pm May 3, 2017 6:02pm
Quoting newbegger
{quote} my mindset shifted from - the market is not doing what I expected it to do, to - im not doing what the market expects me to do. That is the holy grail
from this post , dont you think its a legitimate question to ask ?
  • #1,035
  • May 3, 2017 6:15pm May 3, 2017 6:15pm
Quoting metta87
{quote} from this post , dont you think its a legitimate question to ask ?
What is your purpose here in this forum?
Ecclesiastes 1:9
  • #1,036
  • May 3, 2017 6:19pm May 3, 2017 6:19pm
Quoting newbegger
{quote} my mindset shifted from - the market is not doing what I expected it to do, to - im not doing what the market expects me to do. That is the holy grail
why are you beating around the bush sir ?
what do you think the market expect of you ? simple question
  • #1,037
  • May 3, 2017 6:30pm May 3, 2017 6:30pm
Quoting newbegger
{quote} Then, perhaps I can explain to you why I wrote "That is the holy grail"
yeah please do.
edit: but now i have a feeling you wont.
  • #1,038
  • May 3, 2017 6:36pm May 3, 2017 6:36pm
Quoting metta87
{quote} why are you beating around the bush sir ? what do you think the market expect of you ? simple question
The market wants us to insert the coin to play.
The funniest, is that nobody takes me seriously.
  • #1,039
  • May 4, 2017 6:15am May 4, 2017 6:15am
Quoting BillyKay
{quote} HI Erebus, Would you mind sharing you fractals indicator, or a download link please. Thanks
I'm not able to PM here so I have to send this publicly. Billykay, I was just hoping for your help in clarifying things from your strategy in binary options. This is my email address { email address deleted by staff }. I don't know how else to get a hold of you. Thank you so much.
  • #1,040
  • May 4, 2017 7:13pm May 4, 2017 7:13pm
Quoting TooSlow
{quote} Share?
Quoting shiva
{quote} Pay it forward please
Sure,

And the advice was quite simple but helped me immensely. I guess when you spend days in the "lab" like a mad acientist crafting some new plan of attack you build up kind of expectations based around your backtestimg and forward testing.. then of course you formulate your momey managememt rules/ risk per trade etc...

So what I was told was to lower my expectations to a win rate of 50%... and allow for a loss run of 10-20 trades in a row... which sounded ridiculous at the time, my method on teating was winning 70% so why would i do this?

Well it meant I could finally trade, not with the next trade in mind but the next 10-20. It was no longer about making money on the trade or accepting the loss, but making money on aggregate... And obviously my risk per trade was lowered much below the pain point which took emotions out of play.

The other thing was about compounding and also doing that on aggregate rather than on a trade by trade by tade basis, a kind of staggered approach whereby the profit on the previous 10 trades would pay for the risk on the next 10 but at the aame time building a base, so only a portion of profits are used to buy more risk

Anyway it sounds very boring and simple but for me itwasagame changer. This was along time ago now but over the next 6 months I had yhe most successful period of trading id had in 6 years and never once needed to change my method or tweak too much.
Time hides Nothing
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