Engineers have a saying: For every complicated problem, there is a solution which is simple, easy and just dead wrong. Trading successfully is a complicated problem. We know this because if it was simple, we'd all be rich. When you said your custom timing indicator works, I thought you meant it in the same context I was using the word, i.e., 'works' means 'generates successful trading signals'. But now you say your indicator doesn't work all by itself. It needs confirmation from inferior indicators, which at best means your signals are always late. There's another saying, one of my own creation: If your timing indicator needs confirmation, then you need a better timing indicator. Adhering to this saying has served me well. I now have a custom timing indicator for trending markets that works, i.e., it doesn't need confirmation. Something to think about.
Kut, either you're trolling for a bite here, or you haven't understood what I said earlier. Maybe I explained it badly. Timing is great, thank you very much. Sometimes on the nose, sometimes a little late, sometimes a little early. So, not perfect. But it is practical and effective. Yes its one part of a layered approach. The last part. No confirmation needed. Just permission to be used from a higher process. You know, like "trend/ no trend"?? It doesnt work 100% of the time, same as anything. Anyone with reasonable system experience can grasp this concept. Apologies if its not a single, perfect indicator that does trend, range & timing all in one go, and gets in right at the bottom every time. (Which only exists in the minds of liars and fantasists. I expected more here.) I had no idea using a multi-layered trading approach was a cardinal sin here on ET. I merely joined in this thread to point out that, something can work in both trend and range. Won't make that mistake again. Which really *is* something for me to think about. .
When people bring in the red herring of perfection, my BS detector lights up. I never mentioned or even implied perfection. There is no perfect signal generator. So now you're back to claiming your indicator works great. But you're also the one who said that when your indicator is used in isolation, it is a net loser. Whatever, dude.
Nothing changed in my 'claim', you're just failing to read it, or understand it properly. Along with the possibility I've communicated it wrong somewhere. If it isn't any of those, then you're just being a prick for reasons known only to you. Which is your problem, not mine.
First you claim to have a timing indicator that works great in every type of market. Then you say it really doesn't work until all types of other extraneous shit is added on. It's pretty clear who the prick is here. I call BS on your magical any-market, any-time indicator which works great but not really because it needs confirmation (''permission" to be used from a higher process. You know, like "trend/ no trend"??). LOL I'm outta here.
Not one single indicator can predict anything, just like no instrument can predict if you heart will stop. They can offer possibilities and backtesting can give percentages, but every trade comes down to 50/50 and all working to have that edge and without good money management skills, often times trades bust. Without price or volume, there would be no indicators. Even using the indicators correctly does produces losses. I use mostly price action and EMA, I do have RSI on all charts as faster way to show possible weakness as it faster way than to be measuring pivots.
Perhaps. I believe if you don't have firm grasp of Price Action first, indicators tend to muck it up. It is like taking way too many retracement trades and clearly seeing Price is in 5th wave of Elliot Wave. Of course with Elliot, there are always subwaves of waves, but if one has a defined set of rules of Elliot, it can add to your trading. I think having an understanding of how other people trade can only add to bottom line so long as this been tested out.