i understand that all you gurus use all of the indicators…but if you were to select which form of analysis was most important to your trading what would you choose…from the list below
candlestick theory including patterns.
fibonacci
moving averages
pivot points
ADI
IKH
stoch indicator
bollinger bands
RSI
MADC
wave theory
fundamentals
or is there something that you depend on that i did not mention ?
please dont give answer like…well you need them all to make a good decision…unless you are already a trilliionaire…millionaires and billionairs please dont answer like that…trillionaires maybe…
i just want to find out what you depend on most in your trading.
Skills are: COMPLETELY understanding your money management. Correctly assessing the risk/reward scenario for a possible trade, and recognizing the ones with the highest probabilities for success. Knowing when it’s not going to work, and cutting out. Knowing when it’s going to work, and letting it run.
Those are the skills that make trading profitable, regardless of your choice of tools to see those setups.
obviously you didnt understand the question…ill try and keep it simpler for you…so even you can get your head round it…
not bothered about money mgmnt…not bothered about risk reward…not bothered about if your trades are profitable or not…only interested in which indicators are your favorite…everytihing elses is irrelevant to the question asked…
ill ask what i want …stay out of it and stop being a pretentious wanna be…your answer is not wanted…others may be…obvioulsy your not a big money spinner anyway…your just a little theory guy…but that said your entitled to your opinion…so enjoy.
keep studying and grow a big pair and feel the market to know the market…and maybe one day you will be able to rub shoulders with the likes of me…you are forgiven.
like i said…your cool and the gang…your under MY WING now…so take a chill pill and let me do the trading…read a chart or something…keep yourself busy…at least look busy.
TADA…again the Nikitafx drops a golden nugget in the basket…thank you …thank you again…i ll look into daily bias…and read your posts to see if its described how to spot it properly…and how to evaluate and work with bias.
Hi eblip, Your question should be so simple that everyone can understand, what do you want to ask. Your question title should be “what is most important indicators for your trading”, According your second reply.
sincere appologies for the clarity of question…and by the way haley what you doing this weekend…id like to discuss fibonacci over BREAKFAST…thanks for the reply…ill be extra vigilant with the fibonacci levels.
None of those are important to me. I do not let my indicators do the analysing for me.
My biggest skills:
[B]1)Discipline[/B]
In my opinion discipline in trading means: The ability to master your thoughts, your emotions, your body, therefore mastering your mind, regardless of profit or loss. Your ability to plan the trade then trade the plan
[B]2) Integrity [/B]
The thing that always separates the men from the boys is integrity. There are some traders who say one thing and do another, or can talk the talk but can’t walk the walk. If you say one thing but your actions do another you lack integrity in your trading.
[B]3) Patience[/B]
No trader can move the market or force it to do what they want it to. Often, there will be periods when there are no strong low-risk, high-reward trading opportunities, while other periods there can be way too many to select from. Whatever the situation we have to face, we need to wait until the market conditions are perfect for our trading plan and set ups.
[B]4) Effort[/B]
I would be a liar if I said trading did not involve some level of hard work and effort. In all aspects of life, if you want to be good at something, it takes commitment and time to learn your craft.
The above all boil down to [B]my philosophies[/B], and those philosophies, turn into thoughts, and those thoughts turn into actions, and those actions turn into my outcome as a trader.
[B]My trading method.[/B] I trade psychology and the best things methods i have to feel the flow of the market and be in sync is. Charting formations, support and resistance, swing highs and lows, price action, candlestick formations, 20, 50, 100, and a faint 200MA, MACD. That’s it. Nothing special. But its how i interpret it with my brain that makes is very very special…
Here’s the timeline of what usually happens to new traders that flame experienced traders that are actually profitable (like PurplePatchForex for example):
hey dale…should have put your money on my 400 pip deal…but you thought you knew better…soon you will be begging for my next big tip…and just because you may be experienced…dont mean your any good…wink wink…ill be dripping in green llong before you mate…DRIPPING IN IT…and that is the toop and bottom of it for me…everything else is just conversation .
Hate to get back to the question but I was a bit intrigued by what the point of it was. If it is a survey then that might be interesting (easy to set up in bpips to see the range of styles we trade. Of course many don’t use these indicators at all really or just look at bias and some basic patterns to spot entry and exit). If it is a ‘what do you use and how’ question then the how is all through the School of Pipsology so doesn’t need repeating, and the what becomes a matter of style, dogma, or back to my first point - a survey…
On dogma, Dale, I loved Wilder’s whole thing about quasi religious trust in indicators in the Adam Theory! So true. He would have loved the scene with the Aliens in Toy Story (“the claw must decide”) LOL
Long way to say my view is that pure price action is the answer. Indicators are fine - their major benefit being that they are self-fulfilling as people follow them! - but the market goes where it will so ‘resistance is useless’.
