Best indicators ?????????????
- Thread starter Humpy
- Start date
I will share with you something that a great trader shared with me as I started learning the beginning of the path into successful trading, as I am doing now.
"Technical analysis is not used to predict it is used to react.
By defining a trend via a well structured channel and aligning it's support and/or resistance
with the support and/or resistance of other well structured channels you will obtain areas of
high probability for reaction, from this you develop your trading plan.
You might also use these areas as exits but your exit might or might not be reached as the secret here is high probability of reaction and not a full prediction.
I suggest you use two exits, one your reaction entry, followed by a severed reduction of risk adjusted to price action, and then your final desired destination as it is imperative to let your winners run, contrary to what you should do to your losses, which is cut them as fast as possible."
After reading dozens of trading books and thousands of posts in public trading boards, nothing has helped me more than the above, albeit I am still doing the transition to cash, i have incorporated this to simulator with great success.
In summation, technical analysis does work but as everything, it has many limitations and very little predictive power.
"Technical analysis is not used to predict it is used to react.
By defining a trend via a well structured channel and aligning it's support and/or resistance
with the support and/or resistance of other well structured channels you will obtain areas of
high probability for reaction, from this you develop your trading plan.
You might also use these areas as exits but your exit might or might not be reached as the secret here is high probability of reaction and not a full prediction.
I suggest you use two exits, one your reaction entry, followed by a severed reduction of risk adjusted to price action, and then your final desired destination as it is imperative to let your winners run, contrary to what you should do to your losses, which is cut them as fast as possible."
After reading dozens of trading books and thousands of posts in public trading boards, nothing has helped me more than the above, albeit I am still doing the transition to cash, i have incorporated this to simulator with great success.
In summation, technical analysis does work but as everything, it has many limitations and very little predictive power.
Quote from Frits:
Read the attachment. I trust it will shine some light in the dark world of technical indicators.
Shaka,
Frits
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Sorry but your articel is totaly wrong. I made tousand of trades, all of them with technical analysis.
Of course it works. Yes technical analysis can predict the market moves to certain points.
Nobody will sell you a working system, why should they ???
Its very hard to learn succesful technical trading, thats why the most fail, because they are lazy.
Of course its hard, you can make a lot of money with it.
If you dont believe me, i dont care, i know what i do.
It works every single time. Am i dreaming ? No, i predict the future and make money. Unbelievable but true.
It's a pitty that you say that the article is totally wrong. Especially since it is filled with simple facts. Now I can't change facts... It works, but only because TA is mental support for you. It has nothing to do with price predicting as is stated before in this thread.
Nevertheless, you don't have to agree. I'm just sharing info and everybody can decide for themselves what to do with it
Shaka
,Frits
Hey Frits you are cool.
So you are a fundamental guy or what ?? Are you successful ???
I make a living of my trading, its not a hobby, its my proffession.
I have nothing else and i want nothing else. I be a trader, a investor, a buyer & seller, a gambler, a statistical probabilites decider. Call it what you want, but i make da money, do you ??
Of course i dont have to agree. Ha ha ha, i mean i make money with technical analysis, what do you want to tell me, i do this stuff now for several years and will do it so long i want to trade.
Yes the facts, i say the only fact is, that people are lazy thats why they fail.
You know, for me it was a super hard way to get there where i am know, i was a lot of times before surrendering of trading, but i have never gave up.
I dont care about traders and their strategies, i only care about the market and my strategies, becuz i have not to compare to anybody.
The business is just about the markets and me.
Okay, thats the facts you are telling me, maybe i just see it with another eyes. i have to. what would do in my situation.
Buuuuuuuuutttttt, sure i predict price moves, how else could i make money ??? You know, when i go in the markets, i know why.
And that also gives me mental support, thats just a side effect, i wouldnt have if i wouldnt know that i am right.
What do you think ???
Am i a super lucky gambler or how does it come that my trading works, without fundamentels......
by the way, i never understood fundamentals. the market moves in extremes and give a fuck about fundamentals (or is it me who gives a fuck), maybe after he tested every possible high and low and kicked all the idiots out, then he moves to fundamental direction.
Example, News: Wheat harvests go down !!! So what says logic, price should rise!! But, the price goes down, down, down, to a strong support level. Boom, than i goes straight up, and down again, and more it fall below the first low. Is the market crazy ???
And then i comes up up up up and reachs new highs. Ahh the markets are right, i told you price must rice. ha ha ha .... !!!
I am not the only one succesful only technical trader, there are 1000 of guys and women ??? (for example = Linda Raschke) out there.
I think every successful technical trader uses in a similar way, because the markets all moves in the same ways, all the time.
And the market goes there where the BIG MONEY moves and the BIG MONEY are the successful traders.
What else, im tired now.
AND, the fact that technical strategies are so super difficult to learn is just one reason why people fail, the most important aspect of trading is psychology - discipline, and to be able to risk money for making money. And discipline, discipline, discipline.
Hey, i make money almost every day. How do i do it ???
I mean nobody have to belief me, but you can make money with trading.
Good night.
So you are a fundamental guy or what ?? Are you successful ???
I make a living of my trading, its not a hobby, its my proffession.
I have nothing else and i want nothing else. I be a trader, a investor, a buyer & seller, a gambler, a statistical probabilites decider. Call it what you want, but i make da money, do you ??
Of course i dont have to agree. Ha ha ha, i mean i make money with technical analysis, what do you want to tell me, i do this stuff now for several years and will do it so long i want to trade.
Yes the facts, i say the only fact is, that people are lazy thats why they fail.
You know, for me it was a super hard way to get there where i am know, i was a lot of times before surrendering of trading, but i have never gave up.
I dont care about traders and their strategies, i only care about the market and my strategies, becuz i have not to compare to anybody.
The business is just about the markets and me.
Okay, thats the facts you are telling me, maybe i just see it with another eyes. i have to. what would do in my situation.
Buuuuuuuuutttttt, sure i predict price moves, how else could i make money ??? You know, when i go in the markets, i know why.
And that also gives me mental support, thats just a side effect, i wouldnt have if i wouldnt know that i am right.
What do you think ???
Am i a super lucky gambler or how does it come that my trading works, without fundamentels......
by the way, i never understood fundamentals. the market moves in extremes and give a fuck about fundamentals (or is it me who gives a fuck), maybe after he tested every possible high and low and kicked all the idiots out, then he moves to fundamental direction.
Example, News: Wheat harvests go down !!! So what says logic, price should rise!! But, the price goes down, down, down, to a strong support level. Boom, than i goes straight up, and down again, and more it fall below the first low. Is the market crazy ???
And then i comes up up up up and reachs new highs. Ahh the markets are right, i told you price must rice. ha ha ha .... !!!
I am not the only one succesful only technical trader, there are 1000 of guys and women ??? (for example = Linda Raschke) out there.
I think every successful technical trader uses in a similar way, because the markets all moves in the same ways, all the time.
And the market goes there where the BIG MONEY moves and the BIG MONEY are the successful traders.
What else, im tired now.
AND, the fact that technical strategies are so super difficult to learn is just one reason why people fail, the most important aspect of trading is psychology - discipline, and to be able to risk money for making money. And discipline, discipline, discipline.
Hey, i make money almost every day. How do i do it ???
I mean nobody have to belief me, but you can make money with trading.
Good night.
Really? You can always filter signals a little better.
Quote from HATEtheRisk:
Hey Frits you are cool.
So you are a fundamental guy or what ?? Are you successful ???
I make a living of my trading, its not a hobby, its my proffession.
I have nothing else and i want nothing else. I be a trader, a investor, a buyer & seller, a gambler, a statistical probabilites decider. Call it what you want, but i make da money, do you ??
Bla bla bla.... Bla bla bla... Bla bla...
Hey, i make money almost every day. How do i do it ???
I mean nobody have to belief me, but you can make money with trading.
Good night.
I don't trade on fundamentals and I don't trade on "price predicting" TA either. I simply trade on the fact that markets move at random. And the only way to make money in such an environment is to limit your losses and let your profits run.
If your definition of success is making money then the answer is yes, I am successfull.
The rest of your post or shall I say "advertisement for yourself" isn't very interesting.
Trade well mate.
Shaka
,Frits
------------------------------------------------------Quote from Frits:
I don't trade on fundamentals and I don't trade on "price predicting" TA either. I simply trade on the fact that markets move at random. And the only way to make money in such an environment is to limit your losses and let your profits run.
If your definition of success is making money then the answer is yes, I am successfull.
The rest of your post or shall I say "advertisement for yourself" isn't very interesting.
Trade well mate.
Shaka
Frits
Hey,
i am sorry i didnt want to bore you.
thats just what i think.
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sorry i dont need any "advertisement for myself".
I am good in what i do thats all. I dont have to feel shame for it.
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i agree "limit your losses and let your profits run".
i like this also.
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your view is very interesting.
What do you mean with random ? i dont understand that, it makes no sense ? What then moves the market ?
i am fascinated by you, you make money with random moves, how cool is that, really i am serious.
Are you also a poker player (oh poker is about probabilities, forget it).
What is with BlackJack, roulette, are you making money there,
if yes, you must have a master risk managment.
Back to topic.
So you dont use any indicator.
But you must have someting that indicates what you have to do ?
Maybe we could learn from each other.
I am open for every idea.
PEACE
