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Simplicity


skid-z

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Hi everyone.

 

Today, after looking at all the Forex crap I had on my hard-drive, I went thru everything and cleaned house!

 

I've recently returned to "Naked Trading" and I deleted all the ebooks and videos on my harddisk that were, well, just plain crap and worthless.

 

Feels good to finally put all the forex "hype" behind me and start thinking like a real trader should.

 

Sorry for wasting your time if that's if how you feel after reading this, but today was a monumental shift in my thinking toward becoming a trader that actually makes a living trading. Only time will tell, LOL.

 

My very best to everyone here.

 

gbon

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Re: Simplicity

 

Intersting! Can you please give us more insight to your findings? ;)

 

My short answer to your question is that I've learned that trading Forex using too many indicators and "canned" strategies just don't work for me in the long run. There are short spurts of success, but no real month-to-month consistancy.

 

Basic support & resistance, trendlines, and just plain paying attention to the price is what I am focussing on now.

 

Scammers, wanna-bees, and diversionary tactics by brokers & bankers have polluted the internet with such a vast amount of misinformation it is no wonder that such a small % of traders successfully make a living by trading. Take a look at the e-book section here for example. Lots of dribble and mostly nothing solid, just one dissapointment followed by another. Last I checked, anyone regardless of qualifications (or experience) can write & post an e-book :P Mind you, I've posted my share of e-books :berbusa: and quite frankly I'm now embarressed for some of the garbage ebooks that I've posted. There are so very few good books out there!

 

I plan on being in the winning percentile and I hope I've finally found what works for me ;)

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Re: Simplicity

 

I think you are quite right; simplicity is king. I am glad that you have now found what works for you rather than letting yourself down by all the hypes out there! It is all about proper mindset, realistic goals, consistency and discipline rather than only finding that easy set and forget secret strategy or system!

 

Thanks for sharing your insight. :arrow: I wish you best of luck. :) :arrow:

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Re: Simplicity

 

I agree with you too. Make indicators simplest as possible is the best way. If you have too many theories, and too many indicators, those are makes your mind shaky.

To control the MANAGEMENT, step by step with own rules are important. Just like words - not the bypass to be success. :arrow: :peace:

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Re: Simplicity

 

Dear Gbon my Buddy;

 

Congeratulation :arrow:

 

Btw can you help us by giving a recomendation book thts you called "good":

There are so very few good books out there!

 

So we can go straitgh to the point where's the great ebook, the good ebook, or ugly(Scam) ebook ?

 

Your recomendation is very usefull & can be help many Forex Trader.

 

Thanks before :shand:

" I ' LL BE BACK "
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Re: Simplicity

 

all indicators are derive from MA, stoch, MACD

 

100 % Agree Buddy,

 

Almost all those Indicators mentioned above is base by "Avarage Price",

 

thats why the result (profit) Traders who use Indicator as a trigger to entry position ; just take profit only an Avarage result(not optimal) .

 

Diffrent Traders base price as main Indicator they can take an optimal profit.

 

Sometimes Indicators we need, but just only for confirmation and/or as a filter our trades.

 

But allways our trigger is based by price action itself.

 

All The Best;

 

 

:arrow:

" I ' LL BE BACK "
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Re: Simplicity

 

Hi Gbon,

 

Congratulations & I hope it works good for you Bro... :arrow:

 

Well, indicator can help you a lot if you know how to use them. Trendline, candlestick, fibo, even econonic news are indicators and those are good tools for traders. Indicators are like a traffic lights, they are helpful to avoid car accidents, but everytime you see a green traffic lights, it doesn't mean you must cross the crossroad without looking left and right roads.

 

indicators only = :idea:

price action only = :berbusa:

indicators + price action + experience + money = 8-) :arrow:

 

 

*The bottom line is each trader has to find their own way and learn what works for them...!

 

 

Peace.. :ugeek: :peace:

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Re: Simplicity

 

indicators only = :idea:

price action only = :berbusa:

indicators + price action + experience + money = 8-) :arrow:

 

It depends those trader personality, we cannot say trading with or without Indicators event maybe combine both of them 100% right & 100 % wrong .

 

We must remember in our World of Trading, we live in a grey area, nothing black & white, there is nothing 100% absolute right & nothing is 100% wrong. We must accept for that buddy.

 

*The bottom line is each trader has to find their own way and learn what works for them...!

 

Totaly 100% agree buddy :arrow:

" I ' LL BE BACK "
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Re: Simplicity

 

Mind you, I've posted my share of e-books :berbusa: and quite frankly I'm now embarressed for some of the garbage ebooks that I've posted.

 

No, no, no ... Gbon my Buddy ... :o

 

Actually we're all Thank you for your kindnessh to share many2 ebooks to us.

 

There are so very few good books out there!

 

can you give us a list ebook that you thought is good ?

 

Btw, you are not alone Gbon. A few months ago i'm allready cleaning up my hardisk, but im not delete, but just move it those ebook & all Indicators, Software, & EA to External HD as my Archieves.

 

But in my HD i left some ebook i thought is usefull for my everyday trade.

 

Here's my list of the ebook i left in my HD:

 

1. CANDLESTICK MADE EASY By Christhoper Lee.

2. TRADING IN THE BUFF By John Kapplan.

3. ENCYLOPEDIA OF CHART PATTERN By Thomas Bukowlski.

4. ENCIKLOPEDIA OF CANDLESTICK By Thomas Bukowlski.

5. TRADING CHART PATTERN LIKE A PRO By Suri Dudella.

6. NEWSPROFITEER By Henry Liu.

7. ALL STEVEN LEE JONES ADVANCED TEHNIQUE From BACKLASH, ARMAGEDON, & MASSACRE.

8. FOREX BACKLASH By Stephen Lee Jones. (delete bcoz allready Printed).

9. NICK B TRADING METHODE (forex 4noobs)

 

Thats is my ebook List in my HD.

 

Now can you share your list of ebook did you thing is good Gbon & all of my friend ? Thanks before :shand:

" I ' LL BE BACK "
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Re: Simplicity

 

Mind you, I've posted my share of e-books :berbusa: and quite frankly I'm now embarressed for some of the garbage ebooks that I've posted.

 

No, no, no ... Gbon my Buddy ... :o

 

Actually we're all Thank you for your kindnessh to share many2 ebooks to us.

 

There are so very few good books out there!

 

can you give us a list ebook that you thought is good ?

 

Btw, you are not alone Gbon. A few months ago i'm allready cleaning up my hardisk, but im not delete, but just move it those ebook & all Indicators, Software, & EA to External HD as my Archieves.

 

But in my HD i left some ebook i thought is usefull for my everyday trade.

 

Here's my list of the ebook i left in my HD:

 

1. CANDLESTICK MADE EASY By Christhoper Lee.

2. TRADING IN THE BUFF By John Kapplan.

3. ENCYLOPEDIA OF CHART PATTERN By Thomas Bukowlski.

4. ENCIKLOPEDIA OF CANDLESTICK By Thomas Bukowlski.

5. TRADING CHART PATTERN LIKE A PRO By Suri Dudella.

6. NEWSPROFITEER By Henry Liu.

7. ALL STEVEN LEE JONES ADVANCED TEHNIQUE From BACKLASH, ARMAGEDON, & MASSACRE.

8. FOREX BACKLASH By Stephen Lee Jones. (delete bcoz allready Printed).

9. NICK B TRADING METHODE (forex 4noobs)

 

Thats is my ebook List in my HD.

 

Now can you share your list of ebook did you thing is good Gbon & all of my friend ? Thanks before :shand:

 

Hey my man. I think most of those books you listed are good reading (I haven't read some of them yet).

 

I also think books on candlesticks by Steve Nison are a must read for any trader regardless of whether they use many indicators or none at all. The Best Trendline Methods of Alan Andrews is also a good book. Maybe someday when I actually make a living from trading I'll be qualified to tell everyone what to read :P

 

I don't want to be too overloaded (or overwhelmed with new info) in my reading nowadays so I've been re-reading some of the books you listed above to clarify the important points of each book.

 

I'd also like to say that I agree that a trader that is well versed in fundamentals, technicals (with or without indicators) & price action will have an edge whether they use all of those tools or not. Sound money management and discipline, of course, are a must.

 

I still use a single indicator often for defining trend direction at times. Usually a SMA or RSI.

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  • 2 weeks later...

Re: Simplicity

 

Great Gbon :arrow:

 

However, which TImeframe did you use for your everyday trade, & what the parameter of your SMA & te RSI you used ?

 

Thanks before :shand:

 

I trade from the 4hr, 1hr, 30min, 5min, but use the daily/weekly to define trend direction for my 4hr trades and to pull daily/weekly price range data. I put an SMA62 on all charts for trend direction using at least a single timeframe higher to define the major trend.

 

I use RSI 3 or 5 with levels set at 15/85 to track the minor trend (where I fine tune entries/exits) at possible oversold/overbought conditions.

 

I don't use them that much anymore, but they are usually still on my charts. Habit I guess...

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Re: Simplicity

 

Great Gbon :arrow:

 

However, which TImeframe did you use for your everyday trade, & what the parameter of your SMA & te RSI you used ?

 

Thanks before :shand:

 

I trade from the 4hr, 1hr, 30min, 5min, but use the daily/weekly to define trend direction for my 4hr trades and to pull daily/weekly price range data. I put an SMA62 on all charts for trend direction using at least a single timeframe higher to define the major trend.

 

I use RSI 3 or 5 with levels set at 15/85 to track the minor trend (where I fine tune entries/exits) at possible oversold/overbought conditions.

 

I don't use them that much anymore, but they are usually still on my charts. Habit I guess...

 

Great Gbon :arrow:

 

I like it

 

SMA 62 is great Buddy.

 

I remember my friend Andy Perry a.k.a. Captain Currencies have use SMA 62 too with his Trading system (3 Ducks) in 3 Timeframes too.

 

But You have a nice tiuch by giving RSI (3) or (5). Very2 Impresive.

 

I like it Buddy, i know its work. :arrow:

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  • 5 months later...

Re: Simplicity

 

Yes, KISS-Keep it simple, stupid.

 

Too many times you see ppl over complicated things with many lines drawn. I think the best is price action and follow the trend. Easier said then done. But from what I gathered, money management and trade management will help you go a long way to survive in this forex jungle.

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