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.
Base on this chart, you would have 2 Short positions and 1 Long position. As you can see, this is very convincing and anyone can see the price really follow the MA crossing according to the theory.
But in reality, this was not the case. Anyone who took these trades would have been in the wrong side everytime.
Now can anyone find out why?
MA crossing is the #1 used indicators. Everyone is using it , but in my humble opinion, I think they are using it the wrong way. I know you all are following the book's way of using the indicator, but I can prove that this indicator is useless. By the way, you are proof that this indicator is useless. Most of you are using it, but you are not making any money using it. Because of the useless nature of this indicator, any indicator, EA, trading systems that is designed using MA crossing cannot produce any good results. Here is how most traders use MA crossing. If 12 MA crosses over 20 MA to the upside go long. Otherwise go short. This is basically the main idea of MA. Here is chart of this example: Base on this chart, you would have 2 Short positions and 1 Long position. As you can see, this is very convincing and anyone can see the price really follow the MA crossing according to the theory. But in reality, this was not the case. Anyone who took these trades would have been in the wrong side everytime. Can anyone tell me why?
I posted a part 2 of this system with chart and illustration, but I guest moderator has to approve it first because it is not showing up.
Well until next time then.
Come one mod, get with it!
I also now hate indicators.Its just 5 month over and i am struggling in this forex market.Everytime i get a new indicator,I feel excited.But when i tested.I find many false signal at there.I try to find and make holy grail.But its does not work.I am fed up all most.
Without indicator,only strategy i guess is News trading strategy.
For rest of it you will be required indicators specially in scalping.
Actually indicators fails only in front of Breakout , Whipsaw, Pullback kind of condition.
I am working on it.But i am not so negative like other who says there is no holygrail or something.
Actually the matter is, if you trade 10 times, and win 8 times.Then you will be always a winner.Wining and losing is a part of life.But make sure your wining ratio is higher than it.
Yes, I'd really like to hear more about it too...
Finally mod approves one and do it twice. I hope this would be the last time they have to approve a post. Otherwise I am out of here. It would not be fun to wait days for a post to show up.
For those of you that are interested in this subject, I will continue with the posting and discussion.
Please, see the red text for my humble opinion.
Not all indicators are created equally.
I am yet to find the inequality.
You may be right, but if these indicators work Why less then 10% of traders makes money and the majority of the ones making money rarely use these indicators.
If you know one that works, please share with us. I would be happy to purchase it.
Again this is my Humble opinion.
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