This thing is very unsteady. You shouldn’t rely on it too much. It’s not bad but it works in channels only. Any cunning breakout or an unexpected impulse can punish you if you lose control.
Yeah, I see that it doesn’t always work but nevertheless, I appreciate that at least when it moves in a range I can use it. It makes my trading easier. For example, I recently used this thing to trade BTC. It gave me a clue and I bought lower and sold higher. Luckily my trade was successful, although I was afraid that the pattern could be broken and that flat market would vanish at any time.
There’s one thing that I dislike in this MT’s linear regression. It’s hard to manage. I had a hard time placing it on the chart. I think that the developer should improve the usability of this tool.
I heard that there are custom indicators that create this linear this regression channel on any timeframe automatically. If you need, you can google information about them. I don’t exactly remember their names but I know they exist. If you are more and more absorbed by channel trading, you need to catch up with it.
Yeah, I also heard about such indicators. I even know one of them. It’s Spider. I remember cause I used it. It’s a custom indicator made for Metatrader 4. Earlier I even used it in my daily trading. It’s a good alternative to traditional linear regression because unlike linear regression in Metatrader. It’s a true indicator that responses to changes on the market and this channel changes automatically.
On each timeframe this channel is different and generated automatically. Take a look at this one on M15.
Thanks, I’m gonna look for it online. I like that it’s adjusted automatically to fit constant changes in the market. Sometimes I forget to edit linear regression on my Metatrader once something unexpected occurs on the chart. This automation is what I need.
Most of the time I trade crude but for the last time I also started to pay attention to other assets, such as currencies. Frankly speaking, I don’t like currencies despite I trade them because any currency pair always includes two currencies and I have to take into account each.
That’s why I’d better trade such assets as metals or energies where there’s only one element – the asset you trade, such as crude, gold, etc. Trade. com thematic portfolios are also based on the same principle BTW.
Nevertheless, if there’s an opportunity to earn on anything, including currencies, I don’t want to lose this opportunity. What do you think about USD/CHF?
On the daily chart I can clearly see a triangle. The Fed is going to raise the interest rate I guess. I really want to buy at the very beginning of the wave. What do u think of the idea?
I think that now anybody is waiting for an uptrend on this asset just like on most currencies with the US dollar. I hope you’ve baught as planned.
Yet, technically, as of now it looks more like a flat wit 0.9086 - 0.9363 boundaries to me.
So, I tried to use this Spider indicator. I easily found it online. So, I installed it on Metatrader 4 and tried to trade with it. I applied this indicator to various assets and at first I had a feeling that Spider could make trading extremely predictable but as I learned later it wasn’t so easy.
As you see on the screen, this channel drawn by the indicator may be a crap. It let me down, but I luckily managed to avoid big losses. As you see, the price doesn’t always go from one to another channel lines.
You relied on this toy too much and it was a good lesson for you. I’m glad that you avoid big losses. Approach everything you see on chart with a cold mind and you will achieve much better results.
Nevertheless, I saw that it makes sense to use Spider because it works fine on some charts. I realized that I need to be more attentive.
I want to tell that in this light trade com portfolio investments do look more attractive.
D’you have funds for this?
No, I’m not going to split my depo to allocate a part to portfolio investment. However, I don’t exclude that in the future I will start earning money with the broker.
I came to one page of the broker’s site and tried to learn more about custom portfolios. The more I read the more confused I became. A typical portfolio offered by the broker is made up of equities - about 65%.
I have no idea about the rest, such as real estate, alternatives. I need time to learn more about. As for now, I have a temporary solution. Since most of the portfolio is presented by equities, I decided to choose some stocks and trade them in the long-term. So, it will be my first portfolio but maybe I’ll get back to a read-made portfolio product after sometime. It’s still interesting to me.
I tried to trade stocks but smth snagged in the process and I had to quit it. Maybe it’s going to be much better once I start portfolio investment. Too much fundamentals is what I can hardly endure.
Maybe I was in low spirits and once I will try it next time I will achieve better results. I will not give up the idea of trying portfolio investment but I already see that trading stocks separately is not a very good idea for me.
You could have traded stocks without fundamentals. I mean you could have used technical analysis only.
I tried that approach but I didn’t like that stocks are not so good to trade with Spider. Stocks are more trendy assets while Spider is better suited to work in a range.
I have recently tried nearly all CFDs with this broker and nearly all of them are good to trade with Spider, except for stocks.
Maybe it is time to forget Spider and try a completely different approach to Trading. no one can rely on an indicator there ARE other OPTIONS…!!!
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Agree with A1lenTrader.
Don’t overestimate this indicator. It’s not perfect. I think that you’d better draw range lines on your own instead of relying on what this indicators offers. This ready-made decision makes you lazy and you don’t stimulate your imagination which is very crucial in trading.
I’m gradually trying to drift away from Spider. Yeah, I noticed that it makes me lazy because I started to rely on it too much, while very often it lets me down.
I noticed when I draw channel lines on my own, it’s getting more interesting to trade because I resolving another puzzle on my own and it gives me pleasure.
You are doing right. I can give you a good example. When students jot down a lecture, some folks think they are doing a stupid job but in fact this way they memorize what they are taught much better. When you draw channel lines on the chart, you focus on it, while Spider gives you a ready-made solution, which is not always right.
That’s right. I tried it on many stocks provided by the broker and I’m going to try this on other assets too. Drawing lines distracts me from portfolio investment more but this idea is still interesting to me.