Jump to content

REQ: Trading123.net


yamantaka

Recommended Posts

Thank you very much.

Hi Mike.

Jay signal is a cute system, but only cute- no more no less.I would definitely not trade my account live with it or lets say solely based on its signals.

I was watching JS for a long time on ES only live- real time - no repainting etc.Some of the signals are good - enough to keep us interested but many are bad losers.

Lets ask ourselves how does JS work, lets look into the box or behind the screen.

JS is a crude way of trading with the trend which is a perfect way to trade but...

JS has the black line which is a long term moving average combined with some support -resistance.Once this line is broken the trend direction has changed.Now JS will wait for a retracement , it places its magic elipse which is a ****** 61.8% fib retracement ( thats all it is ) totally ignoring all the situations where the market only retraces to 50 or 38 etc.

Once he gets a deep enough retracement which will trigger an overbought-orversold ( you can use any indicator for that ) that is when you get these big red or blue huge dots which display a POTENTIAL to go in but not necessary yet.Once the market goes back and continue with the original direction ( with the trend ) after 2 bars as in almost any other software that calculates a pivot it gives you these magic green-red arrows that only appear in real time and will consume you computer resources.

The idea is good and well thought but... ( always a but ).

The thick black line which is the heart of the system gets chopped very easily.Its too rigid and too depend on very short term conditions without any WHOLE PICTURE SIGHT, which causes it to flip between long and short very fast and many times too soon.

If the market is running fast and strong with a big legs which happens many times when volatility is high then a 78 fib retracement will be read by JS as a reversal etc.

The idea is nice and cute - but no more.You can do the same just using your eyes and a simple fib tool- and the most important tool in ninja....please scroll down...

 

 

YOUR BRAIN.

No indicator will beat your simple way of thought , at least non of the commercial available ones that we have here.

After watching JS for few weeks i formally without any ceremony i just dumped it and threw it away, you will get much better results using a moving average lol.

Take care my friends and hope that this will help, at least some of you.

Force yourself to use as less indicators as possible, even none or maybe just very few, then hide your right side screen and start to move your chart slowly- then try to decide if you go long or short- no need for replay etc.

just put a moving average to give you the market direction, put navi bars and navi trend and after few hours of this practice you will understand that there is no need for all these expensive complicated indicators.

Traderbeauty-Jane

Edited by microsat2
Link to comment
Share on other sites

  • Replies 87
  • Created
  • Last Reply

Top Posters In This Topic

YOUR BRAIN.

No indicator will beat your simple way of thought , at least non of the commercial available ones that we have here.

After watching JS for few weeks i formally without any ceremony i just dumped it and threw it away, you will get much better results using a moving average lol.

Take care my friends and hope that this will help, at least some of you.

Force yourself to use as less indicators as possible, even none or maybe just very few, then hide your right side screen and start to move your chart slowly- then try to decide if you go long or short- no need for replay etc.

just put a moving average to give you the market direction, put navi bars and navi trend and after few hours of this practice you will understand that there is no need for all these expensive complicated indicators.

Traderbeauty-Jane

 

Very nice TBJane you are spot on and great post thanks for taking the time to elaborate on your analysis.

 

Heed the words of wisdom guys, all though I too am lured in by adding indicators to my charts. I always try to keep my charts as clean as possible. Then there’s that new shiny object that catches your interest and it puts you back in the testing mode. We are always looking for an edge.

 

That’s OK for testing purposes but when trading live you need to keep your charts clean as possible.

 

Good stuff Jane and so true…

Edited by timein
Link to comment
Share on other sites

  • 2 weeks later...
  • 11 months later...

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.




×
×
  • Create New...