Just interested in finding out how many of you trade the market.
NOTE: You can make MORE THAN ONE CHOICE!
Bump! We need more numbers to have accurate statistics 
I’ve voted for system+discretionary, technicals.
The system is: when rsi and/or mom hit low figures (rsi below 20-30) then buy, when they hit high (rsi 70-80) then sell. On fast charts (1M, 1S).
And a slower chart for the bigger picture.
But not every move according to the system will yield alot pips, so I ultimately decide if I take the trade or not, which is the discretionary part.
I chose technical with no discretion. The problem with discretionary trading is actually two-fold (well, one is actually a corollary of another):
- It leads to inconsistent data. If every trade is given a manual override and you don’t document WHY you overrode the system’s decision, you will have no way to statistically analyze that data in the future.
1c. Human behavior changes, especially when learning. Your decision-making process 2 years down the line may be drastically different but your system may remain the same. If you don’t document the changes in decision-making, you’ll lose out on important data analysis.
“Discretionary trading, based on technicals only”
Because the signals tell me it MIGHT be a good entry. But, I dont let a system tell me to enter blindly. I look at the market and make a guess/ assumption about where the market is likely to be going.
If I can’t form a strong enough opinion about the direction and why the trade might work out I pass.
Just entering on signals without backing up and looking at the bigger picture can get you into trouble. You can end up fighting against a larger trend, strong support and low volume if you are trading in off times.
This has a lot to do with simply having a decent amount of experience.
Truer words never spoken:)
Right now I’m working on developing my own trading style, and I’ve started to target fundamentals as well as technicals on a discretionary basis. I’m extremely indicator averse, the only indicator I allow on my charts is a moving average or two, just to get an extra frame of reference on the charts. At this point I’ve gotten rid of everything else from my charts. Btw, I fairly actively blog on meetpips (see link above), so if anyone wants to see what I’m going through and give me critiques - by all means.
What he said
I have 1 indicator (as well as MAs which I use for S/R not trade signals) which I use just to spot divergences.
Clean charts and price action for the win!
Yes, I’m working on developing my trading methodology and I also use MA’s just for references, not signals. I have zero indicators on my chart. We’re not making steady money yet, but it definitely hasn’t hurt what I’ve been doing so far.
I trade technicals but some discretion is used. I like to keep an eye and if I’m following a system blindly it’ll give me more losses.