Unbeliveble

[zoom]

Hello Traders..

 

I mean its unbelievable...this forum exits a very long time and what is the best indicator or software the we have fond? I think no one...I have try anything and im so bored because everything everything repaints and no one indicator gives us clear signals..I m not searching for the holy grail but its unbelievable that after 5 6 years indicators researching we have no one indicator that forecasts or give us just only one single candle correct signal...i think i give my Trading Carrier away because its juts luck if you win at trading.

 

Regards

[eggzactly]

Hi Zoom and all forum members,

 

I understand your frustration, i have faced that already in my early days of trading, back to 1992. The biggest problem is the unrealistic expectations. You have to take into consideration what you can REALISTICALLY expect to make each month or week, given the amount of money you have to trade with. This is assuming you will commit to effective Forex money management, because if you are properly managing your risk on every single trade, there is just no way you can make enough money to live on if you don’t already have a lot of money to trade with. Being a successful trader means you are consistently making money in the markets. If you have a small trading account but are making consistent profits that are in-line with your small account, then you ARE a successful trader. The same habits that make a trader successful on a small account are the SAME habits of successful traders of large accounts. Remember that. Forex trading success is not measured by whether or not you get-rich-quick, it is measured by your consistency, and the only way you can become consistent is if your expectations are in-line with the reality of your current financial situation and the reality of the markets.

In the trading group i have created, i face everyday with this, and investors don´t understand it. The problem is not the market, in some cases not the broker, is INVESTORS. Why i don´t see any money management systems ? The Institutional and banks spend more time developing money management strategies then trading systems itself, and why ? Because the key is there, not in trading signals. I am more then happy if i can get average 8% per month on trading, with reasonable DD, but for retail investors that is no good, and that´s why they continue to search and search and search and they end giving up. On Trading Group average now is on 20 investors only 4 stayed with the services, the others expectations was higher for what me and my team can produce to them.

 

So to finish , my advice is you focus on money management strategies and then adapt it to your system.

 

Wish you success,

Edited March 28, 2012 by eggzactly

[wcicom]

zoom, if you have been trading for five or six years, and are still looking for that one indicator that will make you profitable - I hate

to be the one to tell you this - but you have simply wasted 5-6 years of your life. In the long run there is absolutely no luck in trading,

and I do mean 0%, not to say that there are no loosing trades or draw downs, but that is just normal business expense, as far as bottom line is concerned - luck element is 'zero". Again, if you are still using words like "luck" when discussing trading - another reason to believe you have been on the wrong path all this time. Which indicator one uses is not important at all, all of them have pluses and minuses, but if you will take any popular indicator and really put in time and effort to learn how to use it correctly, it will be enough to give you positive expectations, and once you have that, real money is made through money management.

[dougiefresh]

This is something I read at BMT but it has always stuck with me...

 

Markets essentially only ever do one of two things: range or trend. They do this all the time, across

all degrees of time. You can subdivide trends and ranges into a few more categories if you like

(for example, you can classify trends into fast-moving-impulsive-trends, slow-moving-choppy-trends,

wide-swinging-trends, and so on), but basically there is only a small handful of "types" of movement

that the market will ever do on any given degree of time.

 

Given that the market is moving in a certain way (let's say, moving rapidly in an

impulsive uptrend, or moving slowly in a choppy downtrend), there is always an indicator

or set of indicators that will capture that movement and allow you to profit from it.

 

The problem arises in the transition between range and trend, or in the transition between

different types of trend (for example, a choppy downtrend accelerating into a faster more

impulsive one). The real trick to making money is to be able to identify these "market condition"

changes as quickly as possible, and adapt your mind to trading correctly with the current conditions.

You need to be able to adjust from a mind-set of selling highs and buying lows in a range to

simply shorting or buying and holding as a trend develops, as soon as it starts to develop. That is

something that cannot be programmed into an indicator, and that's where most traders fail. They want

a magic indicator to tell them exactly when a market is going to change from trending to range-bound

mode and vice-versa, and that does not exist. It can't exist. The market is nothing more than the sum

of all actions taken by a group of human beings trying to maximize their profit, and that is not

something that can be predicted by a simple formula, any more than you can predict exactly what

is going to happen over the course of the next 10 years in world politics with a simple formula.

Human behavior cannot be modeled accurately like that 100% of the time.

 

If you learn to read "price action", then what you are essentially learning is how to read the

transition between range and trend. That is not easy to do, and generally takes many thousands of

hours of staring at the market. But if you can learn to do it and can learn to adapt your mind

quickly when you notice the market changing its trading conditions, you can be successful. If you are

looking for a magic indicator that will allow you to make money under all market conditions by following

a simple formula, forget it. You're better off making a few different sets of indicators for each

different market condition and then training yourself to recognize the right time to use each one.

[otto215]

Every time you see the pattern you wanna trade.. every time in that pattern different people entered and exited the market.

So it's logical that reaction after a particular pattern is different every time.

[Unclepips]

Hello Zoom,

 

I, myself, can never find a proper setting using MT4 trading platform. So I use stuff that professional people are using. since trading is a probability business, you need a system, period. Without a proper system, you are doomed.

 

If you are using eSignal as a platform and data provider, please let me know I have something that you can use.

 

Hello Traders..

 

I mean its unbelievable...this forum exits a very long time and what is the best indicator or software the we have fond? I think no one...I have try anything and im so bored because everything everything repaints and no one indicator gives us clear signals..I m not searching for the holy grail but its unbelievable that after 5 6 years indicators researching we have no one indicator that forecasts or give us just only one single candle correct signal...i think i give my Trading Carrier away because its juts luck if you win at trading.

 

Regards

[monstar]

I disagree I have found quite a few indys that work well on this forum. Applied with shrewd money management that is.

You need to mix and match and experiment till you find an edge that works.

[shabz]

You won't find indicators that can trade all types of set-ups.

 

Find one type of set-up that you like trading and then find the indicators that will help you trade that set-up. You must do the research & learn how to use the indicators.

 

Learn to exploit this one set-up and this will become your edge. Keep your discipline & wait for this set-up.

 

Learn how to use simple trendlines, fractals, understand how market flow works, supply & demand.

 

Learn how the market moves, Trend to consolidation to breakout, Trend to retracement to continuation. Price Divergence.

 

Learn to trade strong currencies versus weak currencies.

 

Start with getting a more rounded view of trading, it is not all about watching for the magic Buy / Sell Arrrow on your chart.

[DaveWuk]

Yep,

 

All indicators tend to lag so they are indicative of where price has been. I like the BB-macd for example.

 

Professional Traders use leading indicators - Trend-lines/Candlesticks/Fibonacci and Support and Resistance levels.

 

Took me some time to come around to this view too, but I use very simple candlestick patterns and draw on lines.

 

I was surprised to find that simple = better and that those old trend-lines are better that all the stats.

 

Few programs tried to get this like VSA. But that's about it.

 

Good luck

[traderx4]

Zoom, Dont give up, Just take a break, Re-group and Re- analyse my friend.

:-)

[sm_jew]

Hello Traders..

 

I mean its unbelievable...this forum exits a very long time and what is the best indicator or software the we have fond? I think no one...I have try anything and im so bored because everything everything repaints and no one indicator gives us clear signals..I m not searching for the holy grail but its unbelievable that after 5 6 years indicators researching we have no one indicator that forecasts or give us just only one single candle correct signal...i think i give my Trading Carrier away because its juts luck if you win at trading.

 

Regards

 

Indicators or software are only tools. What you need are sound, robust ideas, and a lot of practice. You are simply looking in wrong places. You can trade profitably without indicators, but never without good ideas and solid preparation.

[dannydon786]

Zoom this forum is great and I must admit that I am a successful trader because of this forum

 

Regarding trading most of the things already said are very correct.....there is no holy grail indicator and after trying thousands and thousands of indicators from this forum and making losses eveyday,....I finally got the courage to throw away all the indicators and have a clean chart...no indicators just pure price action and now can proudly say am having 98% win rate...but this did not come easy cannot be learnt in weeks or months ....has to be years.....I have spend years and years looking at charts for hours and hours and taking advice and sugestions from fellow traders from this forum and am where I am now...ALL THANKS TO THIS BRILLIANT FORUM .......I

Hello Traders.

 

I mean its unbelievable...this forum exits a very long time and what is the best indicator or software the we have fond? I think no one...I have try anything and im so bored because everything everything repaints and no one indicator gives us clear signals..I m not searching for the holy grail but its unbelievable that after 5 6 years indicators researching we have no one indicator that forecasts or give us just only one single candle correct signal...i think i give my Trading Carrier away because its juts luck if you win at trading.

 

Regards

[jessiethom]

hi dannydon it is great to hear that you got a strategy with 98% winning rate! And me myself also belief in naked trading and pure price action. Please, do you mind to share a little bit of your trading concept? and some advices? Thanks!

[Cosmos]

@ dannydon786, All the Best as u hv bn able to achieve the destination of this trading arena. v the associates here on this forum are also learning day by day through experience, help and share of tools by sr. members & stalwarts here.

[dannydon786]

Hi Jessiethom...if there was something to share I would be happy to share it...but naked trading does not have any indicators, so my only advice is keep on practicing and you will be successful..

hi dannydon it is great to hear that you got a strategy with 98% winning rate! And me myself also belief in naked trading and pure price action. Please, do you mind to share a little bit of your trading concept? and some advices? Thanks!

[shabz]

Learn to draw support & resistance lines. Look for consolidation zones prior to market opens.

Trade only instruments that have good ADR & low spreads.

Spend hours studying the charts until you can see these levels. Practice, Practice & Practice makes perfect.

[dannydon786]

Just to add to Shabz

 

Someone told me long time ago......practice does not make you perfect.......PERFECT PRACTICE MAKES YOU PERFECT.....thanks to Shabz

Learn to draw support & resistance lines. Look for consolidation zones prior to market opens.

Trade only instruments that have good ADR & low spreads.

Spend hours studying the charts until you can see these levels. Practice, Practice & Practice makes perfect.

[DDD]

Professional traders follow indicators that are hardly ever mention here in this forum. If you knew what they do to beat the Forex you would be surprise. They do nothing of what is re-commended here to do. That is why we will keep on loosing and they will keep on winning. Take it from someone who has been trading for many years. I love this forum because there are people who are trying to help people. Edited May 28, 2012 by DDD

[shabz]

I have done this, looked for these great indicators on forums. "If only I had what the pro's use" - every rookies unfulfilled wish.

 

It's not any special indicators that professionals use, this is just fantasy. This is why people are forever looking for the holy grail and will never find such a thing. The forums are full of the "latest indicator" request posts.

 

Indicators are just another way to look at price - however you dress it up. It is the price that drives the indicators and not the other way around.

This is why indicators will always lag the price. Only Price is current & now.

 

Focus more on understanding why price moves and the cause & effect. Look at market flow, previous supply & demand levels.

Look at why price moves away quickly from some levels on a chart & not others. What causes price to consolidate ? Why does price break out of consolidation ?

Can you trade with a price bar chart only, with 2 moving averages & some trendlines ?

Keep your chart clean then maybe you will see price action a bit better.

Would your car drive any better if you had a hundred instruments on the dashboard ?

 

It is the trader that makes the holy grail from his understanding of the market.

[a777]

I am more then happy if i can get average 8% per month on trading, with reasonable DD, but for retail investors that is no good, and that´s why they continue to search and search and search and they end giving up. Wish you success,

Hi Eggzactly, I stll recall your old scalping thread where you had a 90%+ success rate scalping for 5 pips TP and an actual SL of around 7 pips. You said it was effective in both trending and ranging periods probably because of the small TP and using 10 pip constant range bars. One day you made 100 pips. Was that strategy no longer profitable over a long period? Even if you averaged just one-fifth of the 100 pips a day that would still be great. If you used a currency strength meter to find the the best trending currency pair that would help even more. With a 90% success rate it would seem you would almost never have a losing day. Just 20 pips a day is 400 pips a month. With a $1K account and $1 a pip that is $400 a month or 40% return a month. 1% risk per trade on $1K is $10 so that can easily cover the 7 pip SL. Averaging just 10 pips a day would still give a good return of 20% a month. I am not trying to be critical at all of your system, just would like to know if scalping for small pips is profitable and sustainable over a long period. Or do you eventually get too many whipsaw losses?