Day Trading & Forex Forum

TheMoneyMachine

Hello Everybody,

Great forum, well done Trade2Win.

Does anybody trade the spot market using price & time analysis only?

There seems to be reams of discussion on the analysis & application of technical indicators in the spot market but very little on raw price action and the benefits one can accomplish from learning to use it.

I have flicked through some of the previous threads regarding price analysis but most seem to refer to the equity markets and also discuss volume which unfortunately is not available to us in the spot market.

I apologise in advance if i am covering old ground but it is going to take me some time to cover the discussion boards content.

Look forward to a response.

Regards

TMM

ChowClown

Hi TMM,

I for one would be keen to see a thread on this subject develop. I've been battling with price/time in general and not just on spot FX, for a while now. Do you use Gann?

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Chow

jezza888

Welcome TMM,

I must admit I'm guilty as charged when it comes to using indicators with forex although learning how to use price and time would be a very intriguing and hopefully informative thread. I get by OK with the indications I use but would certainly like to learn more without them.

As you say, alot of raw analysis on these boards revolves more around stocks and indices and the use of volume, which, is no use in forex.

Look forward to a hoefully good thread.

What pairs do you trade?

J

TheMoneyMachine

Hello ChowClown & jezza888,

Earlier in my trading career i explored Gann along with every other conventional indicator/forecasting tool available until i slowly became to see the wood through the trees and began exploring price per se.

I predominantly trade the major/commonwealth currency pairs, how about you?

Regards

TMM

JonnyT

I'm trading currencies predominantly GBP/USD using 15 minute charts only.

No indicators.

Its early days yet but today was very kind to my analysis.

JonnyT

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Trading Mentor

jezza888

Mainly GBP/USD and occasionally EUR/USD.

I'm using the stochastic Oscilator at the moment but losing faith!

TheMoneyMachine

Hello Jonny T,

Glad to hear you have had a successful day.

Initially the transition from using technical indicators to raw price action can be extremely difficult. When you have come accustomed to looking at charts with myriads of additional data attached it feels almost ridiculous looking at a plain price chart.

What made you attempt the switch Jonny?

TMM

TheMoneyMachine

jezza888,

Its ok to lose faith in the indicators your currently using but never lose faith in yourself!

I asked myself what can the stochastic indicator (and all the rest) tell me that the price alone can not.

TMM