What the best filter for float indicator ??? - page 2

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Great example right here after the US session in gbp/jpy.

Lows in the 220.65's, big move down from asia. Lot of faders coming in thinking its gone 100 pips + so odds are not too bad to grab a few pips. Problem is this pair can run 300 pips before turning but look like its done several times along the way. So the safer risk reward is to let it creep up 50 pips or so and sell it near the declining highs once you see the rising averages run out of gas.

Even if it runs up odds favor a return to your entry or close to it with this pair.

Easy to see the highs ... 223 80's, 60's, 20's, and after the dump nothing to really put weight on until 221.80's.

Lows are ascending from the 220.60's.

At some point the highs will join the parade or the lows will stop ascending and pow you've got a trade.

Anything to add? I'm all ears, never stop learning.

 

Here we are, 221.40, up 80 pips from the ascending lows coming up on the descending highs. Plain as day.

Did I consider taking a buy at US lows?

Yes.

Did I?

No.

Been burned too many times "fading" a move and just fine being out of the market this time.

Will I be shorting again?

Yes

Float isn't going to tell you jack about this stuff.

 

He was just asking for help with a float indicator. He wasn't saying that he was going to rely entirely on it. If it helps him even a little bit, then it is worth it. He will learn through demo trading when his float indicators aren't usefull and when they are, based on how the prices appear.

There's more options than "use indicator," or "use market prices." You can use both and learn how they correspond, which can give you much more information than only one. Or atleast you can start seeing connections inbetween the two, which will help you get better at using indicators and the market. The more new traders can expose themselves to learning patterns the better they will become.

 

I understand that. I'm explaining part of how it can be simple to see price and trade effectively. I'm not intending to discourage newer trader from using indicators, I'm explaining how they are derived and how it is possible to have a better understanding of the market from price itself.

I am also challenging intermediates to challenge themselves when it comes to indicators and price itself.

 

Are you reffering to me as an intermediate?

 

Are you here just to heckle people?

Use your F'ing CCI. I Dont care.

I'm posting ideas and thoughts on trading without indicators and I've commented on the float only to have your PMS butt start hen pecking me.

Go away.

Or start another post about why its absolutely necessary to use the float and cci and to never trade with price vision.

And again just to reiderate my point. CME floor traders don't have the slightest clue what float is or the time for cci. The point (AGAIN) is that they may be useful for some but not necessary for all.

Now if you can swallow that concept you might want to pay attention to some people who trade without the safety wheels because they don't need them. Better yet, perhaps I'll just shut up and let another malcontent ruin some input from somebody like me.

Tell you what. You go ahead and continue bashing the idea of trading without cci and the float here and I'll start a thread about trading without them. I know you'll come in and chastise me in your wonderful positive way but I'll bet by then at least enough people might have had some things to add.

 

Actually forget it. Knowing people like you might profit from experience makes me not want to share it.

 

I think you've missed my point. I'm trying to explain how everyone shouldn't dismiss using them, and this person wanted help with a float, not hear you complain about how the almighty 006 doesn't need to use them.

And I never bashed the idea of not using them. I said that if this person wants to use it, and he wants help with it, give him help because maybe this person needs "training wheels" to trade.

Or start another post about why its absolutely necessary to use the float and cci and to never trade with price vision.

Either you don't understand what I said, don't understand how to read, or need to get out of the habit of using definitives. It's annoying.

And also, dismissing something because you think you can do without it is silly. Calling them training wheels is simply your way of boosting your self-esteem. In the end it's all about how you can predict and get pips etc.

 
006:
Recognizing where recent highs/lows are with a simple glance at a chart instead of using the stupid indicator is your best filter.

Can we not see points where price stopped and reversed for half a day or longer on a chart people?

Float just tells you you're coming up on those points.

If you need an indicator to hold your hand and confirm for you the points were real you need to improve your skill before trading more.

You could just use fractals in the same manner.

Neither the floar or a fractal guarantees price is going to stop at the key levels, the levels are often breached, so just frikin make a mental note of key turning points, jeez.

Just some tough love for you.

If you want to use indicators use them, don't listen to 006.

 

So back to my original point to perhaps shed some light regarding the float and price that can perhaps be of insight to the original poster before this clown came in bashing me.

Here we are now having dropped another 100pips just hours after I noted the meeting of ascending/descending highs/lows near 221.40. I noted I would prefer the short side.

The float would have concluded its cycle near 221.40, as it simply makes note of recent highs/lows. Your eyes could do the same thing and allow you to view a larger time frame chart, which helps us see the whole picture instead of trading inside a box.

This clown bashing me can try to portray me as pompous and almighty in my mind but I'm just trying to share some experience. I win and lose like everyone, included the best in the business.

This does not detract from the fact I have experience. I am only trying to be helpful when not attacked by losers like this malcontent.

The float will make note of 219.65 and 219.44 next if the selling continues, which I do not believe it will do much more for now. But you can see them on a 4hr chart easily. The float just tells you price is getting there, but you can see that.

I actually traded the float purely by itself a few times and watched it hit the marks perfectly and signal a reversal, price kept going. Float does not tell you its safe to reverse, your visual of price behavior must do that.

An MACD will operate somewhat in kind. It will capture a trend within the trend but when its volatility time the macd has no clue whats going on. This is why its important in my view and anyone whos been whacked by a sudden 60 point burst thats done in a minute to be able to trade outside the smoothed/indicator driven box and become comfortable with guaging price in other ways. Perhaps even if only as a addition to an indicator driven method.

Boy what a jerk I am for being so pompous.

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