Haymaker,
Hmmm you have a point!
Just to crack the door a bit I will ask a question. A comment by sweet pip in another thread prompted it, so if it is a bad question I lay the blame at her feet. ![:smiley: :smiley:](https://forums.babypips.com/images/emoji/twitter/smiley.png?v=5)
[I]To add to that, indicators… like stochs… that show over sold/bought conditions are really only good when price action is in a range. When price action is in a trend, they are very misleading which is why I don’t use them because you never know exactly when a range ends and a trend starts with them until it’s in it, which is a little late when you’ve got a trade on in the wrong direction.[/I]
First off I have assumed that when people speak of the price action in range, they are not speaking of home home on the range, but of horizontal action. So whatever time frame you might choose the Shi Channel is flat across the horizon of my screen. Trending Price, on the other hand, is just that, trending up or down. Is this correct? (see a real question)
[B]RANGE TRADING is one of the most profitable and simple trading devices out there, and im sure you can see why — UP to resistance and DOWN to support, and now lets do it again (follow your s+r overlay !)
in a trending market and especially a RAPIDLY trending market, many indicators will hit the roof, go flat (cause there aint no more up for them to go to) while the price keeps climbing — this is what sweetpip so correctly refers to !
Fortunately the forex world has more simple tools to work with, such as fib numbers, support and resistance (if youve broken out of one timeframe, GO to the next and watch s+r and keep doing that till something STOPS or it becomes NOON — whichever happens first !
but in that situation, depending on the stoch becomes a useless situation, but just because youve reached ONE problem with an indicator, doesnt alter the fact that 99.9% of the time, its perfectly useful — and we can handle the other 00.1 % pretty easily, as we will learn !)
Sweetpips strikes me as a very impatient and demanding lady, and if its not perfect, she throws it away — ME, im rather dumb and plodding, so i like to find out WHY it doesnt work, and WHAT does ---- and often you find that you must use TWO indicators, or two of the same with differing values, so you can cover BOTH aspects of trades.
todays cars come with “all season radials” but if one is traveling in snow country, you would do well to switch to studded snow tires, cause ONE TIRE, like ONE of most anything, WILL NOT AND CANNOT COVER ALL THE BASES ! Just a fact of life, or so many men wouldnt have a wife AND a girlfriend !
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Secondly what are the [B]weakness[/B] of the various tools that you have laid out for us? When can they [B]not[/B] be trusted? I am speaking of Handdrawn LRC, Shi Channel, Ziggy, Barry, [B]Stoch[/B]inburg, ZZ Semafor, MACD, CCI, A/D and the various moving averages you have told us about. (still waiting for the fractals)
[B]ask me that question again later simply because ive covered myself with redundent indicators that handle both snow and dry weather, and have long forgotten exactly what some of the problems are, although sweetpips pointed out the problems with the stochastics.[/B]
Thirdly I know that you have mentioned that your methods work except in the most whippy conditions. What does whippy mean? I have my assumptions but it is one thing I haven’t searched for yet.
[B]WHIPPY is like pornography — you may not always be able to describe it, but you know it when you see it ! Its actually an extremely rapid up and down movement of a currencies price, brought on by a combination of bulls and bears attempting to move the price and traders working the 15 and 30 second charts. It is similar to a range situation, but without the smoothness of normal movement up and down, as the price is moving one way for 2 pips and reverses for 3 and reverses for 2 and reverses for one, etc.
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Its the difference between riding a rocking horse and a bull ![/B]
3 question for me. Now if each one of the 3500 hundred other people following this thread will ask 3 then MP will have something to do besides just making money.
�Get your facts first, then you can distort them as you please.� mk twain