Do Not Use Indicators - page 4
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
I personally think it doesn't matter whether you use indicators predictively or not. The fact is if you are using indicators you should use them within a set of rules. If those rules result in a profit, mission achieved if not you have to stop.
Even lagging inidcators can be used as a leading inidcator. What is the difference in using a SAR as a stop or a trailing MA???
That all being said. Although I havent traded it in a good while my Hooya Bands method (no I am not selling it...its in free articles on the net..just search google) as a non-indicator based system would provide a good basis/starting point for those who can not think about trading with out indicators.
Hello
I would appreciate your explaning me why should I get rid of indicators or use them the opposite way.
Thanks,
Eugene
INDICATORS, INDICATORS INDICATORS.Throw them away and let's start trading.I know most of you love these indicators. You live and die by them. So before you start throwing stones at me let me explain.About 4 years ago, I was about in the same situation as most of you on this forum. I was all over the place looking for the perfect trading system. Everywhere I looked; there was a new trading system that seems to be better that other one.I have tried some free one and paid for others. After trying so many ideas and trading systems, I realize that all of this trading system has one thing in common: They all use indicators. If you want to make money in Forex, stop using indicators. Now if you want to use them, use them contrary to what they were meant for. That’s what I have done.I am not big in writing and I am very busy. However, I am going to share my experience with you from time to time.If you have any non indicator related idea, please share.Next time, I will post some charts and ideas that, at least, work for me
Hi Pony01
I do not think that Forexlady is on this thread anymore. I am using indicators and it is assisting me. Check out my results.
Have a Happy New Year.
Hello I would appreciate your explaning me why should I get rid of indicators or use them the opposite way. Thanks, Eugene
Hi Forexlady I use my own system with indicators and it does work. I am using it in my live account. If I try to sell it people they will just say another trader who wants to make a quick buck. I have finally found a system using indicators that works for me. Today 23/12/2010. I made 60 pips in 4 trades.
Hi BMFX
I totally agree with you. If indicators are useless, why indicators are still on trading charts. It depends on how trader can follow it. I am using as follow.
1. Close[1] > < SMA 5
2. Close[1] > < T3MA 9/ 0/ 0.618
3. Close[1] > < EMA 7
4. Momentum 3 > < 100
5. RSI 5 Cross over RSI 13
6. Sto 5 /1/ 2 Cross Over MACD 5/ 13/ 9
7. Gann HiLo 3
8. Donchian Bands Default
Somebody will say its too many indies and my trading chart will look like a Painting. But I made 2 custom indies for no.1 to no.5. I am using W1, D1 and H4 for trend, support and resistance. I got entry signal from M30. I used above indies for entry only. I exit with support, resistance, Fibo, Pivot, EMA55 and EMA144. Today (21/01/11, Friday), I start my trading at 00:00 GMT and stop at 17:00 GMT (now nearly 18:00) and I got (+20, +10, +50, -20, +35, total 95 pips). Here I want to support your words "I have finally found a system using indicators that works for me" .
Before using this system, like other traders, I was dying to get a profitable system or holy grail. I wander about many forums and learn a lot of systems. I tried to follow a system without using indicators (http://forums.forex-strategies-revealed.com/indicators-worries-system-t532.html) but I cant totally follow it. But I got a precious idea of using support and resistance. Somebody wants to know something about a system using no indies, use above link.
I want to say something to Forexlady. I think many people including me are waiting for your system . You started this story and you should end it up.
for heavy pips everydaysss
mithetnme
The last post of Forexlady was a along time ago. This make me think that she will not write here any more.
As for non-indicator trading I know and used a system that uses only support-resistance lines (drown manually), trendlines and some times include fibo retracement if needed. All you do is to follow trendlines and wait the price to break a support-resistance level. If it breaks then you enter along with the price direction assuming that it will go further until it reaches the next S/R level.
This is so simple but does not give comfort like perfectly working indicator(s). Of course if really there is any indicator(s) that works perfectly
Hi BMFX I totally agree with you. If indicators are useless, why indicators are still on trading charts. It depends on how trader can follow it. I am using as follow. 1. Close[1] > < 100 5. RSI 5 Cross over RSI 13 6. Sto 5 /1/ 2 Cross Over MACD 5/ 13/ 9 7. Gann HiLo 3 8. Donchian Bands Default Somebody will say its too many indies and my trading chart will look like a Painting. But I made 2 custom indies for no.1 to no.5. I am using W1, D1 and H4 for trend, support and resistance. I got entry signal from M30. I used above indies for entry only. I exit with support, resistance, Fibo, Pivot, EMA55 and EMA144. Today (21/01/11, Friday), I start my trading at 00:00 GMT and stop at 17:00 GMT (now nearly 18:00) and I got (+20, +10, +50, -20, +35, total 95 pips). Here I want to support your words "I have finally found a system using indicators that works for me" .
Before using this system, like other traders, I was dying to get a profitable system or holy grail. I wander about many forums and learn a lot of systems. I tried to follow a system without using indicators (http://forums.forex-strategies-revealed.com/indicators-worries-system-t532.html) but I cant totally follow it. But I got a precious idea of using support and resistance. Somebody wants to know something about a system using no indies, use above link.
I want to say something to Forexlady. I think many people including me are waiting for your system . You started this story and you should end it up. for heavy pips everydaysss mithetnme
where can I get this indi?
Hi,
But technical indicators seek to predict the direction and magnitude of future equity price change.So i think that's good..!