I was just wondering if anyone had any techniques besides the use of indicators, for assessing the market. I know about fundamental, pivot points, S/R, elliot wave, fibonacci, the basic candle patterns, but is there anyone who looks at it from another perspective besides all these? Maybe someone who uses different techniques? I probably won’t get a response, but I wanted to ask this anyway. I just feel curious about the subject! Response much appreciated!
Stay Cool, Take it Easy!
Yep. Sorta.
I’m experimenting with a trading pattern that uses no indicators whatsoever except the previous trades. I started out with a handful of fixed rules, but I tried to keep the system as simple as possible so I could concentrate on money management instead of indicators and let the markets do their thing while I observe. It basically works out to be a string of semi-random and arbitrary trading decisions that resets every week at a different profit-loss ratio.
I had to add a couple of extra rules this week to tighten things up in the wake of all the news upsetting the markets, so I’m still developing the idea. When I’ve got it together, I’m going to start a blog and post it. It’s interesting. The week I traded at a 3.5:1 profit-loss, I made quite a bit of money, but it tanked last week and now there’s a glitch in the game trading platform that might make the experiment null for the week (it quit acting on the stops and take profits).
I suppose I should emphasize that I am trading this system on a DEMO account, and not with real money.
I’ve heard of a system where you trade by the phases of the moon. Full moon Sell, New moon Buy. I don’t trade it myself though 
Yeah, I heard of that astrology stuff too, haha, eh if it works for whoever uses it then I say go ahead. Thanks for the responses. I feel that the more you put on the charts the more it tends to cloud your judgement, I’ve seen someone put like 7 MA’s, trend lines, S/R, bollinger bands and a RSI and it looked uninterpretable. One thing tells you to sell, the other says buy, and now your indecisive (probably the worst position to be in when trading). I’ve given up on indicators. I base my trades on what the market is doing, and trade when a specific pattern occurs. Of course when big news comes out I stay away. Anysways thanks for the replys much appreciated!
Stay Cool, Take it Easy!
I use no indicators.
I don’t use indicators. I don’t even use charts of currency pairs.
I process the pair data to produce charts of the movements of each individual currency. From these I can identify times when one currency is being bought overall simultaneously with another sold. This tells me the best pair to trade at that time and gives a low risk entry point.
Thanks for the posts oneofwisdom, it’s nice to see others off the beaten path and euclid thanks for sharing how you approach the market, I like it, quite an original way to approach the market. Anyways thanks alot, I wasn’t expecting such feedback!
Best to all!
Stay Cool, Take it Easy!
It’s not really my cup of tea either, but if people want to learn more about the moon phases and forex cycles a good place to start is John Perceival’s book ‘The Way of the Dollar’. It’s a pretty interesting book with the moon phase stuff being only a very small part of the information it contains. I liked his usage of the open interest indicator from the futures market to identify over ended moves in a given pair.
I don’t use any standard technical indicators as the basis for entering any trades, although I do like to use the detrended oscillator occasionally to gauge an exit point.
I gave up on indicators years ago. Those of us in this august group are sometimes referred to as “darksiders”.
I also find it amusing when trading just price action/fundamentals is refered to as ‘naked’ trading.
Maybe it’s my continuing rebellion against a Catholic upbringing that I like things as naked as possible
About the only addition that ever makes it onto my charts are some arrows showing the entry and exit points from my trades, along with the gearing used for that trade.