This is all greek to me, a complete newbie here.
As a newbie, I didn’t even know about such stuff. I only looked into it AFTER I came up with my OWN system, simply out of curiosity, because it looked similar to what I was doing. I’m a very simple man, so basically, all I wanted to know was: Is price climbing, or is it falling, or is it just treading water?
Navier Stokes equation? What the heck is that? Euler’s equation? Who cares? But beyond that, I ended up rejecting what many, many, much, much more experienced traders recommended, such as MACD, RSI, CCI, parabolic SAR, stochastic oscillators, Elliot waves, harmonic patterns, pivot points and Fibonacci ratios.
Basically, for me, it was a simple matter of finding the right moving averages and moving average envelopes to give me the information I needed, and ignoring all those who tried to tell me that moving averages were too lagging, or that one moving average was no better than another…
I'm basically trading via NADEX's binary option derivatives platform now, but during this Thanksgiving holiday (NADEX is closed) I've been playing around with my OANDA account in between doing other stuff, picking up a couple of pips here and there using charts very similar to what you see above: