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ONLY ONE indicator!


Marcuss

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I use black list # 5 dashboard . I open a 4 hr chart which tells me the general trend, a M1 chart which narrows the trade to the right direction and then a M15 chart for confirmation of the direction indicated from the M1 chart. If the H4 chart trend is down, I only act on sell alerts or visa versa. Once a trade is opened I immediately apply a trailing stop Script which I found. It is HOT(active) at 4 or 5 pips and starts to trail. Can be adjusted.

 

It works pretty good but I wish it could be an EA instead of manual. It is very tedious but it works most of the time. If not I cost average out of the trade buy buying another lot at the next buy or sell signal. The TS script will close all with a profit when it is a profit. Like I say, it works but is very tedious.

Edited by jdonut
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USE only one momentum indicator

 

MACD or RSI or CCI or STOCHATICS

 

See image for rules:

 

Money Management: 1% of account for any trade

SL a few pips above swing point.

TP partial 50% 1:1 and remaining 1:2. Move SL to BE after first TP achieved.

 

http://img225.imageshack.us/img225/1300/oneindicator.jpg

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MA =reflection of Price in Long term.. if You Longtime Investor Type.. MA is True, but if You Shortterm Trader you can use Price Action with trendlines

 

You must know what do you want and what your style in market this is a First Decission..

 

Everyone wants to win and earn profits

But many people forget how to make that happen according to his own character

 

Many even thousands of indicators on the Internet, and all indicators are good, but that many forget that not all good indicators that fit with the character of their users

 

You should find yourself the most appropriate indicator for you to use .. and it was the first decision in trading

 

There are several characteristics of traders in the study of an indicator

 

1. Type lazy = only caught a glimpse then draw conclusions

2. Follower type = just become a collector indicator alone, try and try to continue and ultimately failed miserably

3. Type digger = conduct exploration continues on an indicator to know that the market was actually not as easy as imagined

4. Researcher Type = Type it will bear some Theory-Theory that can be used universally as Gerarld Apple (MACD)

 

You are in a position where in the study of an indicator?

 

Only you alone can answer that ... ;)

 

Thx.

Edited by SEFC

SEFC Mode= Red light ...(off) ..

"Indonesia Forex Community"

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I use black list # 5 dashboard . I open a 4 hr chart which tells me the general trend, a M1 chart which narrows the trade to the right direction and then a M15 chart for confirmation of the direction indicated from the M1 chart. If the H4 chart trend is down, I only act on sell alerts or visa versa. Once a trade is opened I immediately apply a trailing stop Script which I found. It is HOT(active) at 4 or 5 pips and starts to trail. Can be adjusted.

 

It works pretty good but I wish it could be an EA instead of manual. It is very tedious but it works most of the time. If not I cost average out of the trade buy buying another lot at the next buy or sell signal. The TS script will close all with a profit when it is a profit. Like I say, it works but is very tedious.

 

May i know, what dashboard indicator name??

thanks

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Lately I like to trade TF 1H with 3 SMA/3 shift (if only one indicator). It gives very good indications and when you ad TD2, TD 3, TrendLord and advanced ADX you can be not too often wrong. Candle closes over 3SMA buy, below 3SMA sell. Very straight forward.

Just arrived from Cuba +30 to harsh -10 Celsius in Canada. Very depressing weather. I would rather stay trading there but the Internet connection is slow and expensive! Girls and rum are cheaper.

Cheers Hermes

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Hello all,

 

I want you to ask one "simple" question:

 

If you are allowed to use ONLY ONE indicator in your chart what indicator will be?

 

The answer to this question will reveal in what indicator you can trust and what is you best indicator.

 

Do this exercise now: open a new chart, put only one indicator and make your decision! Can you trust in this indicator?

 

Pls share your indicator and your opinion with us.

 

Mine is nonlagma nrp (with length 20)

 

Remember: just one indicator!!

 

Hi Marcuss,

price action , but not that simple -----> elliot patterns emerging in price.

They are very very strong, It took me 2 years to learn why the pros LOVE elliot wave & they are not as subjective as every body think.

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