When will you guys EVER learn??

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There is NO indicator that can EVER match wits with a trader who is familiar with price action and money management, both of which take years to master. I wasted sooo many years searching in vain for an indicator to make me profitable. NO SUCH THING EXISTS. Can someone prove to me that an indicator can make a trader profitable? I think not. Every "magical" indicator I've seen purported to be the next big thing on these boards has turned out to be bunk. MM is the key, coupled with very basic knowledge of S/R and price dynamics. One must consider the proper time of day to trade as well. That's it. That's all you need. Simple price charts. Nothing more.

Please prove me wrong, as I'd love nothing more than to throw an indicator on my charts with a few simple rules and make a fortune.

-SFXTRADER

 

Hi there SFX,

I am glad you have found a way to trade the FX market, congratulations.

Your request "...Can someone prove to me ..." may be met by some people here but not by me. You ask for proof of indicator use, may I ask you for proof of your claim?

These forums are for the sharing of idea's, no one is expected to follow any idea presented here. Instead of bagging people here ( when will you guys ever learn? ), how about sharing what you do?

 
sfxtrader:
There is NO indicator that can EVER match wits with a trader who is familiar with price action and money management, both of which take years to master. I wasted sooo many years searching in vain for an indicator to make me profitable. NO SUCH THING EXISTS. Can someone prove to me that an indicator can make a trader profitable? I think not. Every "magical" indicator I've seen purported to be the next big thing on these boards has turned out to be bunk. MM is the key, coupled with very basic knowledge of S/R and price dynamics. One must consider the proper time of day to trade as well. That's it. That's all you need. Simple price charts. Nothing more.

Please prove me wrong, as I'd love nothing more than to throw an indicator on my charts with a few simple rules and make a fortune.

-SFXTRADER

Hi,

I slightly disagree. You are right about proper MM but itz not just price action which can make u successful. There are thousands and thousands of ways of making money in forex. Its just finding the one which suits u and then applying it with proper MM and sound discipline. Finding a system isnt difficult, but applying it with discipline is. Mastering Price Action is just another way of trading forex. Itz not the ONLY way. You should study a little about Ken Wood (woodie). That man uses only one damn indicator to trade and that too without price bars on his charts. So, a master trader trading for more than 15 yrs without knowing price action...amazing.. rite..?

What I have come to realise (my thoughts, ofcourse), that most of the system presented here fail not because they are bad systems. Therez just one reason that we dont let our profits run and dont cut our losses short and this is because we need a superb win-loss ratio, like 70 - 80%. But what I hve learned from so many successful traders is that 95% of the profit comes from only 5% of the trades and that is only possible if we let our profits run and cut our losses short.

These are only my views. Regards.

 

sfxtrader,

First things first, you are a big arse LIER, If you had traded for years, you would have empathy with the fellow traders, nor blame yourself and everyone around.

You are just a newbie who wants fix on his life with easy money with no effort.

And your claim of Indicators no good and blah blah on money management just shows your immaturity in trading.

There are not one but hundred indicators here which can make you money..I BET..but you got to spend atleast the time it took to make that indicator not hurry and throw off if its fails for the few time.

Spend some time here...you will come out as a winner

chill out...

 

Firstly, I apologize as I really didn't mean to offend anyone with my comments, though I suppose my remark WAS offensive. ;-). And Balista, I'm not sure how disregarding indicators shows immaturity in trading as trading has been around a lot longer than indicators. I utilize S/R, candle pastterns for exhaustion and time of day.

I guess what prompted my little diatribe was trying out every darn indicator on the boards and really not seeing any merit. Like everyone else, I do enjoy trying out the latest new-fangled Rainbow Exponential Tarzan indicator, just to see the pretty colors and squiggly lines if for nothing else. I'm sure there are those who make them work to their advantage. That's a proven fact. I just hate to see newbies continue searching for and tweaking these byzantine indicators when the story is right there in front of their face in the form of price. Again, no offense to those who successfully utilize them. I just don't personally see the benefit. Perhaps my goal is to usher inexperienced traders toward studying first the basics of price, S/R, and MM. Indicators should come in a long second, I think.

 
sfxtrader:
Firstly, I apologize as I really didn't mean to offend anyone with my comments, though I suppose my remark WAS offensive. ;-). And Balista, I'm not sure how disregarding indicators shows immaturity in trading as trading has been around a lot longer than indicators. I utilize S/R, candle pastterns for exhaustion and time of day. I guess what prompted my little diatribe was trying out every darn indicator on the boards and really not seeing any merit. Like everyone else, I do enjoy trying out the latest new-fangled Rainbow Exponential Tarzan indicator, just to see the pretty colors and squiggly lines if for nothing else. I'm sure there are those who make them work to their advantage. That's a proven fact. I just hate to see newbies continue searching for and tweaking these byzantine indicators when the story is right there in front of their face in the form of price. Again, no offense to those who successfully utilize them. I just don't personally see the benefit. Perhaps my goal is to usher inexperienced traders toward studying first the basics of price, S/R, and MM. Indicators should come in a long second, I think.

It would be good to give us dummies a thumbnail sketch of what you are saying above, is there any chance you would?

 

I'd be glad to impart something, if I can, not that I'm any less dumb than everyone else. :-) First, let me go out and have a few thousand adult beverages tonight. It is July 3rd, afterall! Will write more tomorrow. Incidentally, I DID stumble upon one indicator in another thread which I found interesting. It is still no match for mere S/R and candles, but cool nonetheless. I don't know the math behind it. Its called NNT. Anyone have any facts on this one? I love colored dots!!

SFXTRADER

 

BTW, I swear I am in no way affiliated with this product, but a good primer for price action is contained within an e-book called FOREX FOR EVERYONE. Believe me, I have no financial interest. Buy it or don't...I don't care. I perused it a while back and found it coincides with my thinking to an extent. It DOES use moving averages, but you don't even need them at all as long as you follow the price movements and MM properly.

 
sfxtrader:
I DID stumble upon one indicator in another thread which I found interesting. It is still no match for mere S/R and candles, but cool nonetheless. I don't know the math behind it. Its called NNT. Anyone have any facts on this one? I love colored dots!! SFXTRADER

Oh no, now we all want NNT where is it? LOL

 

sfxtrader,

Can you please tell us how you determine support and resistance and how you trade at those levels?

Do you use trend line analysis? If so, can you please explain it?

I would also would like to know your exit strategy and your money management rules.

Thanks,

Mangman

 

Hello again SFX,

It takes a mature person to apologise and you have proved to be that.

I for one have read some things from other traders about just using price action and I have to confess that it intrigues me. I cant do it and would appreciate some clues on how you go about it. I am an indicator user and my thoughts are that the indicators will 'smooth' out the whip saws if nothing else. My favorite is the CCI alah Woodies systems. I note that others here use CCI as well.

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