hmm, let's see what we can do with just 2 indicators

This is a discussion on hmm, let's see what we can do with just 2 indicators within the Trading Journals forums, part of the New Traders category; Originally Posted by rols Are you sure trading is for you? yes LOL What style are you into I wonder? ...

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Old Aug 21, 2009, 3:23pm   #17
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Default Re: hmm, let's see what we can do with just 2 indicators

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Originally Posted by rols View Post
Are you sure trading is for you?
yes


LOL What style are you into I wonder?

Point and Click?
tape reading


You ain't even started yet mate.....
.....the pain begins when you're taking out the unhealthy money
at least i'll be more prepared than most new traders and havent found out how to trade by blowing out several accounts



What could that be I wonder? Price action tartare? Price action without the price?
tape reading, time and sales, order flow on the ES, trendline breakouts, market profile etc
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Old Aug 22, 2009, 8:08am   #18
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Default Re: hmm, let's see what we can do with just 2 indicators

No offense TA but why 'challenge yourself to see if you can actually make money' from indicators which are 'quite bad' when, from what I can see, you haven't actually made consistent money using any method? This isn't a game, making a profit comes secondary only to protecting your capital and I doubt this 'challenge' will achieve either of these goals.

At least backtest it a bit. Good luck if you decide to continue.
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Thanks! The post above is recommended by: TheBramble
Old Aug 22, 2009, 9:09am   #19
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Default Re: hmm, let's see what we can do with just 2 indicators

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No offense TA but why 'challenge yourself to see if you can actually make money' from indicators which are 'quite bad' when, from what I can see, you haven't actually made consistent money using any method? This isn't a game, making a profit comes secondary only to protecting your capital and I doubt this 'challenge' will achieve either of these goals.

At least backtest it a bit. Good luck if you decide to continue.
im demoing as it's the only option at the moment. i did make consistent gains trading price action off dailies etc
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Old Aug 22, 2009, 9:13am   #20
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Default Re: hmm, let's see what we can do with just 2 indicators

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i did make consistent gains trading price action off dailies etc
So why aren't you sticking with it!?
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Old Aug 22, 2009, 9:37am   #21
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Default Re: hmm, let's see what we can do with just 2 indicators

TA,
Here's a link to a YouTube video about MACD - one in a series of three - that might be of interest. The presenter isn't great to listen to, but the explanation strikes me as being quite good.

The great problem with indicators is knowing when the signals they give are wrong. Add MACD to a chart of the FTSE 100 for instance, and you'll see clear negative divergence indicating a short trade. However, the index isn't paying any attention and keeps on rising!
Tim.
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Old Aug 22, 2009, 11:52am   #22
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Default Re: hmm, let's see what we can do with just 2 indicators

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So why aren't you sticking with it!?
doesn't feel deep enough, i don't know . Doesn't make sense i suppose but i think scalping suits me as im rather impatient and young.
I didn't stick with it also because i got shamed in my other thread for pretending to be a millionaire and decided not to continue.
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Old Aug 22, 2009, 2:52pm   #23
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Default Re: hmm, let's see what we can do with just 2 indicators

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i was just thinking of a really , really simple system composed of 2 indicators.

I'm using bollinger bands and MACD, let's see if this very basic approach can actually make money.

I am not trading pin bars etc any more but i'm saving up so i can afford to learn to tape read and found out i canget all i want from sierra chart from $65/month.

The basic method here is to aim long at lower band when MACD crosses above 0 line, and to go short at the upper band when the MACD crosses below the 0 line.
I have no idea if this works or not so it's a punt i guess. Will be demoing this obviously on the H1+ timeframes.
I use averages and a Bollinger Band. Nothing exceptional about BBs, they tell me when the price is overbought or oversold. When it is one or the other, I still have to go back to the bars to enter a trade. Averages, the same. I use them for trend. These are on the chart and the price is circling around them in cycles. That, I find useful . Those, that are on a separate chart underneath, are almost all based on averages and are lagging, dangerously so, for traders who are looking at them for advice.

MACD, stochastics, CCI, you name it, they have all had their days of popularity and the whole lot of them tell you what to do when it is time to do the opposite. I've never tried that as a signal, perhaps that would work...

Someone is going to mention digression. Like all the others, that works well when it works. When it doesn't, it doesn't, but the followers conveniently ignore the bad signals.

The worst thing about indicators is that one can get bogged down with them, changing from one average to another. What a pain and waste of time.
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Old Aug 22, 2009, 3:13pm   #24
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Default Re: hmm, let's see what we can do with just 2 indicators

TAjammy started this thread well i'll try a MACD system somebody suggested to me, 'aggressive MACD' settings on 3,11,16 on the forex dailies
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