I think you are way overcomplicating things. The human mind is multivariate, but can only hande so much contridiction. there is no clear cut right answer. the whole concept of trading is fluid price motion. You need to just take some time off turn off the charts turn off the level 2, and get back to the feel of trading with level 1 and P&L. It seems Ironic, but the only way you are going to be able to control your emotions is learn trade a little blind. Sounds zen I know. You won't be as accurate of course, but you can at lest break even and control your emotions. Then as you do this you can add back in more distracting elements back into your trading charts, ect.. . simplify simplify simplify. Don't be greedy trying to get the last 1/8th either. Good Luck.
-- What you're saying is that all trading should be done one way and one way only, and only then will I be a profitable trader? -- People have said that indicators are lagging....so is price. You dont know the high, low, open, close until after the bar is printed. ... just another way of looking at it.
no, not one way but one indicator, it will be your beacon light in the storm, your anchor in the violent sea, it give you hope there is a way of the jungle, some thing you can lean on when you are confuse, in my case it is 1m adv/decline line, I no longer use it but it will be always on my chart
Just another self-deception I'm afraid. You are asking that price forecast itself in your statement above (negative lag). The close price is the current close price and doesn't lag itself at all. The bar is complete and correct for that period as soon as the period is finished. An indicator combines the close (and possibly open high and low prices for the bar together) and processes the data. If there is no smoothing (CCI) then there is no lag although the indicator isn't finalized until the bar is finished. If an indicator is smoothed then the cost of the smoothing is that its turns will lag price turns. Faster smoothing (T3 etc) means less lag but smoothing of the noise in the price will always result in lag.
nate, GIVE IT UP... Quit while you're YOUNG and find something else meaningful to do with your life. Say.. cut and past some posts from here and write a trading book and PROFIT !!! trust me, you'll thank me for my advice later on in life.
"Mental break-down from TA?" Newbies say: What? Elder says: Good, buy my books! Vendors say: No, never, TA's perfect. Loser traders say: Bad really. Breakeven traders say: OK, fine with us. Winner traders say: Don't worry, just keep doing.
Ripley I dont wake up at 6:00 for nothing. Even though I'm a terrible trader (for now), I love what I do.
Here is an opinion from a newbie, I guess perhaps we need first to develop a valid/ proper back-testing methodlogy which is able to verify/ prove whatever whoesoever telling us about trading.
cashmoney69, i used to do that too at the beginning, had a lot of MA's and indicators. today i use price time and volume only. you can draw trendlines or fibs to help you visualize things more clearly, but that's just for your eye, it's not a trading signal. these days my analysis is sound with high probablilty entries and quite optimal exits, using the above only. most of my trading problems are psychological in nature.