"Price Action Only" traders - More likely to be successful?

Discussion in 'Strategy Building' started by logic_man, Apr 30, 2011.


  1. I have a different interpretation on indicators.

    Indicators are like the information on the dashboard of your car.

    Speedometer is an indicator. It indicates the speed you are traveling.

    You could drive without a speedometer. You could get a feel for how fast you are driving by seeing how fast you are passing your surroundings, feeling the winding that is blowing into your car, sticking your hand outside and feeling the wind, etc.

    I would prefer to drive with a speedometer than without one.

    I think indicators help.
     
    #71     Aug 26, 2011
  2. bone

    bone

    No, my use of correlations is HF-oriented and looks more like this:

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    #72     Aug 26, 2011
  3. Thats a very nice analogy. I happen to "drive" without a speedometer.
     
    #73     Aug 26, 2011
  4. traderrn

    traderrn

    1. Indicators lag Price.
    2. S/R/Trend are determined by Price, not by any Indicator.
    3. Yes, some indicators are watched by the big boys, like the 200 MA, etc, not sure how many of the Gazillion indicators are on the screens of the top traders as opposed to Trend Lines, Channels, Support and Resistance.
     
    #74     Aug 29, 2011