It is only too hard to learn if you listen to the wrong people, meaning those who can not do it effectively. If you think you can daytrade todays volatile markets using moving averages, and other such lagging indicators, then you are definitely listening to the wrong people. J_S
On one hand H123 - I am absolutely laughing my ass off On the other - I am deeply humbled Sir The thought and ingenuity going into your post - absolutely amazing Give em hell today H123!!!! Trade well All - and screw the results RN
You making a ha ha right? Especially during volatile times you want slower indicators and you need the experience to know what the indicator will due when price does this or that, those who use fast indicators think they will show current bars price action but that's the thing only price action shows price action and indicators represent a "mean" or average of price and cause they are slow, the developer is forcing a greater amount of retracement. Certainly don't need oscillators to define divergence if you just look for smaller increments of breaking of pivots will tell the chart reader the market is slowing interest in continue in same direction. I always find it amusing of those who lack education of one area of trading to be huffy puffy and insulting of others. Yes, you do have to be careful from those who are so closed minded. I been day trading 30 plus years, and people lose respect worse each year,
Not sure if you are slagging me or not, but it really doesn't matter! What I am saying, is that I have found squiggly lines, and I mean all squiggly lines, to be of no value to me, and therefore, I do not use any such indicators. I was shown something by another trader some years ago, and it was so simple I could not understand it! It took a few years for me to see what he really meant, and all I will say, is, in the right hands it would make more money in one year, than every trader on ET will make in their lifetime. In case you think I am taking the piss, I am not, and I don't expect anyone to believe me, nor do I care. I did however, promise to never reveal this very simple method to any other person, except close family member if they ever get into trading, which is unlikely. I always keep my word. Do anyone else need to know this simple method, hell no, as there are many ways to skin a cat, but very few that have the potential for 95% succes, when used correctly, which it has, as was proven to me by this person. I am still struggling to match his performance, but I know the reasons why, and it is nothing to do with what he showed me, but more to do with me fuking myself up with drink and other things J_S
I think that on this occasion that you are the one being insulting. Especially so as it doesn't require much in the way of education to understand the derivation and use of indicators, the mathematics that indicators are based on is trivial. In fact I rejected their use after doing my own thourough investigations by using my own models and calculation of most of the common indicators. It's this kind of event with price dropping like a stone - inside the box - that convinces me that is better to watch price action as it unfolds and trade accordingly, rather than rely on a MA, Bollinger bands or any indicator based methods. The chart time axis is UK GMT and the box shows what happened shortly after the US markets opened.
I have actually, but she is very picky, hence why she is not yet married Just in case, I want to be repaid for all those years, so 50% of all trading profits have to go into my retirement account J_S
ET is abundant with the wrong people. I only found one or two guys here worth listening to and it's been a shit load of work deciphering what he said. A mentor may make the path easier for you, but learning to trade will never be easy. This seems to be a common viewpoint on ET which is accepted without any further research. People seem to take pride in not using indicators, i.e., "I only use PURE price action." Just because YOU didn't make something worthwhile out of it doesn't mean someone else can't. FWIW, I currently don't use one myself, but several respectable traders that I admire have done so successfully. I'm trialling a few myself at the moment.
Believe it or not, there are some "lagging indicators" that are absolutely predictive. At least, they are to a high enough percentage to steadily make a few bux over the years. Some signals are losers, more are winners... what's in between is trading. Good luck to all.
Hobby - flippant endeavor Hobby - part time.., yet still serious endeavor I think we agree LF Btw..., I've noticed a change in you as of late - it fits you well Sir RN