Ever wondered what tools other traders use?

[Neoripley]

I thought this might be interesting.

It's a multiple-choice poll which may be of interest or some use. The idea is to get some insight into the tools traders use to make their trading decisions. It also may help newbies or others discover a tool/consideration which has been lacking in their system or set of rules. Please vote for as many apply to you and comment as well (but please vote for the ones that you do use most often, not the ones you would like to use or feel you should).

p.s. please remember by sharing you are not giving away any trading secrets or compromising yourself in any way. It's a public poll with no private agenda and just a bit of fun for a Sunday afternoon. The poll will run until Wednesday. cheers

p.s. if you use an automated system for trade execution and/or stock picks/trade setups, please choose 'Other general' and comment. thanks (forgot to put that in as a choice )

pps: no, I'm not a market researcher!! :innocent:

 

[0007]

Suspect the mechanics of the poll results - I ticked 3 voting options and 6 appeared in the results!

An interesting poll - can you zero the results and start again?

 

[BSD]

Hey, that's a scene from a japanese train, pretty common sight there !!!

LOL !

Part of the job there, going drinking after work pretty much every day. Lets you get away with releasing pressure by saying stuff you couldn't normally during the day sober without losing face.

Love Japan, haha.

Lived there for quite some years during school.

 

[bbmac]

Confluence is the key to technical trading. Using the confluence of tech reasons to enter the market. These include the confluence of potential support/resistance factors (price pivots, fibs, trend lines and to a very lesser extent on non exchange markets like forex-calculated pivots,) oscillator divergence/extremes and band/channel deviation with the further confluence of supporting set-ups above your own trigger t/f, with a price action trigger for market entry. Price action of course can also determine whether there is a trend or not on the time frames you look at.

 

[cuotes]

Confluence is the key to technical trading.

Should I understand that you recommend the use of several "signals" together, all of them pointing in the same direction.

I voted level2/time&sales + support/resistance.

Is that what you call confluence?
Just out of curiosity

 

[bbmac]

Should I understand that you recommend the use of several "signals" together, all of them pointing in the same direction.

I voted level2/time&sales + support/resistance.

Is that what you call confluence?
Just out of curiosity

Yes , Confluence is the coming together of technical factors at the same time.. for example price may be in a an uptrend and pullback to a near-term previous swing hi=previous resistance=potential rbs, which is also at a fib level and at that time and on the t/f below you see a good reversal candle (like a pinbar or inside bar, engulfing etc..) with some hidden divergence....The confluence of all these factors indicating a hi-probability opportunity to 'buy the dip' in the trend.

G/L

 

[0007]

Confluence is the key to technical trading. Using the confluence of tech reasons to enter the market. These include the confluence of potential support/resistance factors (price pivots, fibs, trend lines and to a very lesser extent on non exchange markets like forex-calculated pivots,) oscillator divergence/extremes and band/channel deviation with the further confluence of supporting set-ups above your own trigger t/f, with a price action trigger for market entry. Price action of course can also determine whether there is a trend or not on the time frames you look at.

That's my experience also. You can have different sorts of ducks to line up for your confluence dependent on your style but I don't touch a trade (unless it's to exit when the confluence starts to evaporate) without confluence.

 

[megamuel]

So most traders use price action and support and resistance, and most traders lose! I'm gonna start learning Gann!!!

 

[Calinor]

lol megamuel. Just because people use them, doesn't mean all those people use them correctly and proftiably

 

[megamuel]

You are right of course... It was just a tongue in cheek comment, or should I say a wine induced comma comment!

 

[Neoripley]

Well, it looks like this thread was a bit pointless. All it shows is that out of 36 people, 23 say they use S/R and price action most often as part of their regular trading tools. That's of course assuming that all 36 answered honestly which is unlikely knowing this site the way I do now. The only reliable observation is that there were 400+ views, so there was some interest in the outcome. Thanks to those who did vote though - sorry for wasting your time. Well I'm off to browse ET and AT... it's good stuff

http://www.youtube.com/watch?v=i0LXw1HusY8&NR=1&feature=fvwp