Thank youI don't bother with candle analysis, or bar by bar analysis.
I don't bother with indicators of any sort, especially moving averages which are dead useless.
Support and resistance levels I do, but not trend lines much, ie sloping.
My main core is sentiment which is calculated.
Support & Resistance levels , and moving averages are just meaningless lines on the chart.
- Thread starter wxytrader
- Start date
In that case "W" in wxy means WIN?%%
LOL good proof;
@ first glance a 50dma looks ''meaningless'' + useless.
But some use More of alphabet than '' Wxy'' LOL''M'' means market direction , but that 's a whole book pattern LOL
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Correct, I don't use and not forced.
Mmmmmm, what's so complicated about a lagging average indicator that one could not understand?
Oh, you use it with MACD. Now that's called digging a hole, two bad indicators doesn't equal one good one.
No one is forcing you to not use moving averages and no one is forcing you not to be sheep, please carry on.
Mickey, I'm not sure why I still like you, guessing it's a character flaw on my part but your only "contributions" to these threads seem to be harsh criticism of technical tools of which you clearly don't understand the usage and referrals to your "secret sauce" (shhh, it's a secret). Carry on Mick, you are entertaining if nothing else.
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But, what if it were the other way around, maybe I have thought it through just a little deeper and you haven't?
In reality, I've been aware of MA's flaws and decided there has to be a better way, of which there is.
But I'll also admit, the 'better way', there is yet even a better way beyond that.
I'm kind of mulling the idea to show one of you guys privately all the details of a better way. The only condition, they don't devulge it but they report back to ET on whether this has merit.
I kinda don't mind sharing it, (but not to everyone) because its not the holy grail but it certainly is better than conventional MA's.
It is more for swing trading over weeks and months but possibly may work intraday, I've never explored that.
Jesus, you don't even need to share it with anyone. Post some trades in real time, or at least show a chart with your trades. If the magic sauce is better than MA's, it should help you get into trades that have a high win rate.
Jesus can't help here.
Share it with me. I'm good at keeping secrets, just as I am good at keeping details of my algo private in my journal. Plus since I do only algo trading, maybe I can give the mechanical feasability feedback?
LOL... this we can both agree on!
But seriously, what time frame does this work better on? Can it work on the 1 or 5 min ES or NQ chart? Today we have great ranging action for the first hour followed by this unrelenting rally. Two different types markets. How did this indicator help you put on trades and stay out of trouble?
If you drive a fucked car, driving another one which is not quite as fucked still won't make you happy.