it is mumbo jumbo to keep the light at the end of tunnel on
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Indicator are Liars! S/R Trading for Forex (cont. of futures thread)
- Thread starter ESResistance
- Start date
it is mumbo jumbo to keep the light at the end of tunnel on
the pivotfarm advanced notes are quite simply amazing...thanks greatly for them.
****LEVELS FOR EURUSD, GBPUSD AND USDJPY****
Hi everyone.
The Pivotfarm PowerZones are the key information provided in the sheets, the MP, Pivots, Fibs, Simple Moving Averages and Summary Numbers are for confluence and information.
Always remember to use the numbers as a guideline for potential areas of high probability plays. If you need further information on how to use the sheets watch this video http://bit.ly/8bF7hb
Always use a set up based upon your system to enter a trade
.
Good trading all
Hi everyone.
The Pivotfarm PowerZones are the key information provided in the sheets, the MP, Pivots, Fibs, Simple Moving Averages and Summary Numbers are for confluence and information.
Always remember to use the numbers as a guideline for potential areas of high probability plays. If you need further information on how to use the sheets watch this video http://bit.ly/8bF7hb
Always use a set up based upon your system to enter a trade
.
Good trading all
Attachments
Quote from JSSPMK:
If indicators are liars, then what would you call support & resistance levels that didn't provide support or resistance?
Indicators being liars was more about the perils of indicator overuse. Many traders over rely on indicators thinking they give them some kind of powerful edge over the market. 'Indicators are Liars' was a provocative statement to get your attention : ) (which it has), indicators have their place in trading. I just believe that their are more important elements.
I believe your true edge in trading is in defining areas in which you want to do business (S/R) and then using price action (and indicators if you please) to help confirm that set up. Yes sometimes a support area fails and this is where usage of indicators and price action reading come into play to minimise risk and keep you on the right side of the trade, (this can sometimes be a Break Out, aswell as a reversal)
Indicators at best are a confirmation of a trading idea, they should not be the focus of your trading strategy. This is all imho
Quote from crash n burn:
it is mumbo jumbo to keep the light at the end of tunnel on
Trading is all mumbo jumbo, just sometimes you can find mumbo jumbo that has better odds of working your way than other mumbo jumbo.
Using S/R areas as a base for your trades curbs over trading and it simplifies your trading methodology. In a world of mumbo jumbo, this kind of method purely from a psychological stand point is a great edge.
You're welcome, I hope they continue to be of use to you.
Quote from ESResistance:
Trading is all mumbo jumbo, just sometimes you can find mumbo jumbo that has better odds of working your way than other mumbo jumbo.
Using S/R areas as a base for your trades curbs over trading and it simplifies your trading methodology. In a world of mumbo jumbo, this kind of method purely from a psychological stand point is a great edge.
I agree with your explanation but not with the conclusions.
i have modeled most of the S&R methodologies and applied to the historical intraday data of indices, forex, commodities and the result was none of the S&R systems, i.e. pivots, camarilla, etc. would yield positive expectancy in the large sample of any given product.
hence, the obvious conclusion is S&R are as much liars as other TA indicator.
i am not saying it cant be made money in the market, just saying that S&R is as useful as other indicators when it comes to achieve that goal.
Regarding calculated pivots points like camarilla etc im inclined to agree with you. i have found no statistical edge to them myself.
When I say S/R I mean real price based (Swing lows, Day highs and lows etc) and Volume based levels (Volume peaks based upon volume profile). The Pivotfarm PowerZones are primarily based upon these analysis forms. Fibonacci, Moving averages and Pivot points come secondary. I use them at most as a confluence for this zones.
When I say S/R I mean real price based (Swing lows, Day highs and lows etc) and Volume based levels (Volume peaks based upon volume profile). The Pivotfarm PowerZones are primarily based upon these analysis forms. Fibonacci, Moving averages and Pivot points come secondary. I use them at most as a confluence for this zones.
Quote from crash n burn:
I agree with your explanation but not with the conclusions.
i have modeled most of the S&R methodologies and applied to the historical intraday data of indices, forex, commodities and the result was none of the S&R systems, i.e. pivots, camarilla, etc. would yield positive expectancy in the large sample of any given product.
hence, the obvious conclusion is S&R are as much liars as other TA indicator.
i am not saying it cant be made money in the market, just saying that S&R is as useful as other indicators when it comes to achieve that goal.
****LEVELS FOR EURUSD, GBPUSD AND USDJPY****
Hi everyone.
The Pivotfarm PowerZones are the key information provided in the sheets, the MP, Pivots, Fibs, Simple Moving Averages and Summary Numbers are for confluence and information.
Always remember to use the numbers as a guideline for potential areas of high probability plays. If you need further information on how to use the sheets watch this video http://bit.ly/8bF7hb
Always use a set up based upon your system to enter a trade
.
Good trading all
Hi everyone.
The Pivotfarm PowerZones are the key information provided in the sheets, the MP, Pivots, Fibs, Simple Moving Averages and Summary Numbers are for confluence and information.
Always remember to use the numbers as a guideline for potential areas of high probability plays. If you need further information on how to use the sheets watch this video http://bit.ly/8bF7hb
Always use a set up based upon your system to enter a trade
.
Good trading all