Indicators or Price action

Sorry mate. I thought you were being funny.

Price action doesn't 'work' - it just 'is'.

Interpreting it in conjunction with volume (or volume proxy) and time doesn't always 'work'. But I have a suspicion that working with the bare essentials takes you off down fewer false trails than ANY indicator based system. I have no basis, nor the will to provide any, for backing up that statement.

And no, my track record is just a tad shy of 100%... :cry:
 
TheBramble said:
Sorry mate. I thought you were being funny.

Price action doesn't 'work' - it just 'is'.

Interpreting it in conjunction with volume (or volume proxy) and time doesn't always 'work'. But I have a suspicion that working with the bare essentials takes you off down fewer false trails than ANY indicator based system. I have no basis, nor the will to provide any, for backing up that statement.

And no, my track record is just a tad shy of 100%... :cry:

True - price action just 'is'...its the Interpretation of price action that doesn't always work and although I agree the fewer unneccessary distractions/indicators is better, if the overall profit is increased with the indicators in a plan, use them.

Wasp, take a butchers at Grey1's thread, his trading is completely indicator based as far as I can see and he posts profits every day so just because some use indicators and some don't, use what works for you.

Tony, you can just PM your back up statements instead :LOL:
 
Wasp, whatever works for you is what you should comcentrate on, leading, lagging, it's all just semantics, psycobable everything lags something whether or not it is a good predictor of future events is a whole other issue.
As already stated many times in this thread nothing works all the time, if it did the "experts" on the tv would baffle us daily with their uncanny predictions of market direction. Instead they just baffle us with who actually pays them to come out with their drivel.
By all means explore other avenues, but don't be too quick to abandon what puts the bread on the table.
 
To place the discussion in context, when you are referring to trading by "price action", do you mean that you trade price/volume pattern setups - eg, triangles, pennants, flags, breakouts, hooks, etc. or do you mean something different than that. In other words, does your trading by price action involve standard old fashioned technical analysis pre-indicator or is it something different?
 
Well, since my indicators (for cable) signalled a long at 7.15 on the nose before it started to shoot up and I am still running (albeit with a tight trailing stop now) whilst nearly all on the cable thread have been shorting at various points up, I guess that answers my question.
 
wasp said:
Well, since my indicators (for cable) signalled a long at 7.15 on the nose before it started to shoot up and I am still running (albeit with a tight trailing stop now) whilst nearly all on the cable thread have been shorting at various points up, I guess that answers my question.
Nice one WASP, keep at it then, sounds like its working and making money so stick with it if your happy doing so.
 
The circle is complete

wasp said:
Well, since my indicators (for cable) signalled a long at 7.15 on the nose before it started to shoot up and I am still running (albeit with a tight trailing stop now) whilst nearly all on the cable thread have been shorting at various points up, I guess that answers my question.
Wasp

It seems the thread has completed the circle. You initially asked:

wasp said:
For a newbie learner, I am torn between making a profit although smaller than could be (lagging indicator) and using none at all and generally getting it wrong far more than I do with indicators.

Just because indicators can be lagging (sometimes they can be spot on), if making a profit with them, why shouldn't they be used. I know its all down to personal preferance but there is so much talk of price action being the 'right' way, Id be interested in others views
You have listened to our views and concluded that you are happy with your method and it is working for you, so I think you have succeeded in casting our any doubts you had at the time of the first posting.

That's great.

Other views, including my own ,have been shared, which may help other readers explore the darker side of life. That's great too.

There will clearly never be agreement between those who trade exclusively with indicators and those who trade exclusively without them. As Bramble said that's the way it is - it just is.

So good trading and thanks for bringing the debate back to the fore.

Charlton
 
Charlton said:
Wasp

It seems the thread has completed the circle.

....but ever decreasing ones methinks....

I wish you wouldn’t keep appearing and vanishing so suddenly; you make one quite giddy!”
“All right,” said the Cat; and this time it vanished quite slowly, beginning with the end of the tail, and ending with the grin, which remained some time after the rest of it had gone.

“Well! I’ve often seen a cat without a grin,” thought Alice; “but a grin without a cat! It’s the most curious thing I ever saw in all my life!”
 
Well that's no bleedin' good for me they're my golf days!

Still trading currency eh - one step away from being a money lender. Be careful!

My biscuit method works everyday!!!

New research shows that digestives may not be the best trading indicator!

Just make sure you have got the correct biscuit and settings, for all you dunking traders.

http://www.null-hypothesis.co.uk/science/spoof/articles/dunking_biscuits_cup_tea_long

"Figure 2 clearly shows that digestives cannot be trusted with hot beverages."
 
New research shows that digestives may not be the best trading indicator!

Just make sure you have got the correct biscuit and settings, for all you dunking traders.

http://www.null-hypothesis.co.uk/science/spoof/articles/dunking_biscuits_cup_tea_long

"Figure 2 clearly shows that digestives cannot be trusted with hot beverages."

Ah very true but you also need to access the COT (coagulation of the tea) data.

As with many successful systems there is always an element that cannot be defined

What if was to tell you that the most successful temperature for the tea is around 61.8 degrees.

Wait for the tea to cool down before dunking the biscuit and pay attention to COT.
 
Ah very true but you also need to access the COT (coagulation of the tea) data.

As with many successful systems there is always an element that cannot be defined

What if was to tell you that the most successful temperature for the tea is around 61.8 degrees.

Wait for the tea to cool down before dunking the biscuit and pay attention to COT.

Don't forget to add the RSI (Rapidly Shrinking Icecubes) to the COT to make iced tea ready for a CCI (cool contented idealist) :cheesy: :LOL:
 
Method

To use or no to use.........

On the one hand I have a method that uses indicators which albeit are lagging, produce more winners than losers and with tightish stops, more points won than lost, which, with correct money management, produces a profit.

On the other, price action is what all the threads lead to and many veteran posters profess as the only way...

Then on one thread someones consistently profitable using MA's and CCI and VWAP and I've seen it here and there saying some pro's have RSI, stochs and MA's on board and even on Bloomberg and many other 'pro' sites state certain MA's as relevant.

For a newbie learner, I am torn between making a profit although smaller than could be (lagging indicator) and using none at all and generally getting it wrong far more than I do with indicators.

Just because indicators can be lagging (sometimes they can be spot on), if making a profit with them, why shouldn't they be used. I know its all down to personal preferance but there is so much talk of price action being the 'right' way, Id be interested in others views.

I found this method which might interest some?
http://forums.babypips.com/free-forex-trading-systems/1487-between-40-100-pips-per-day.html
 
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