I’ve been here for a while, still demo’ing but about to go live.
in my first month of demo, i used all indicators i ever heard of…MACD, MA’S ADX, CCI …you name it, but i realized they were all bent on confusing/decieving me.
maybe i was impatient, maybe i just didn’t grasp their essence, but in the last few weeks, i decided to drop all indicators and just trade using candles and trendlines.
now, this method seem to work as i no longer have to stay in front of my computer every now and then looking for signals, and i have recoverded some losses
the problem is; i find it difficult to know when the trend is reversing or when it is consolidating. there seem to be a lot of candle patterns, hundreds of head and shoulder pattern and sometimes, when i enter a trade, it just doesn’t work out. i once saw an evening stat doji befor on the aussie (daily chart)and whent short, onlyfor it to reverse and completely ignor me andmy doji.
i have a feeling that this simple method can be combined with an indicator to make it better.
i also think there are folks out there making it without indicators, i mean something close to this.
please can anyone give me a hint on how to finetune this method (if it’s really a method) of mine?
can someone help me out with how to properly interprete these trendlines and what timeframes to use for candle patterns?
i use the 15M time frame.
thanks for your time…and sorry about the long write-up.