Learning to catch High Probability Breakouts
- Thread starter amitrandive
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I believe. sometimes indicators helps to make a decision.
Trading is not complex.
Those are just supporting tools... to confirm your view.
Only question is how much importance it should be given..? and when ? Its relative changes time to time.
Is it becoming a fashion to criticise use of indicators? Its everyone's choice what suits you, apply.
Trading is not complex.
Those are just supporting tools... to confirm your view.
Only question is how much importance it should be given..? and when ? Its relative changes time to time.
Is it becoming a fashion to criticise use of indicators? Its everyone's choice what suits you, apply.
Guys,
I have read several threads (lots of them), the eternal debate about goodness, or the futility of the indicators.
Personally I think that there is no absolute truth. Indicators are tools. Even critics of the indicators, use them. The bars and Japanese candlesticks are indicators (a representation of the price, in space and in time). The price is a number (eg 1.36124), and in Forex, no longer trades with numbers only.
What is better to travel on horseback or traveling by car?
Is it better to take the body temperature with the touch of the hand, or using a thermometer?
The answers are simple. Of course, it is better to travel on horseback, if you can not drive a car.
Of course, it is best to check body temperature, through physical contact, if you can not read a thermometer.
Personally, I know that if we fill a chart with indicators, we lost a very important perspective that would give us the nude price, sorry, not nude, but the representation of the price, bar or candlestick.
But who forces us to use only graphic nudity, or only use indicators? We go beyond the crocodiles, whose survival is recorded in their genes. We can use both with and without indicators, according to our needs or style of trading. Humans can choose.
I use some indicator, today very differently to when i had only 1 year trading experience.
When I am doing trading, live, the last thing I look at is an indicator. But when I go to make a decision, I look at the objectivity of the indicator against my subjectivity, and that helps me a lot.
Just when I go on the road with my car, and a ban on driving past a certain speed appears, I do not trust my sensation only speed but I check the speedometer, which is more objective than me.
In short, for me there is no debate indicators vs no indicators. They are tools. If they are useful to you and you know to use them, use it. Otherwise, do not use it.
The indicators derived from price (called delayed) are another way to see the price, like Japanese candles or Bars. And they are as retarded as candles, unless you want to use as triggers, and in that sense they may be delayed and bad. The indicators should not be used as triggers, but as a different way of representing the price.
So, things are not black or white or, but there is a beautiful range of grays, allowing us to see beyond the crocodiles.
I have read several threads (lots of them), the eternal debate about goodness, or the futility of the indicators.
Personally I think that there is no absolute truth. Indicators are tools. Even critics of the indicators, use them. The bars and Japanese candlesticks are indicators (a representation of the price, in space and in time). The price is a number (eg 1.36124), and in Forex, no longer trades with numbers only.
What is better to travel on horseback or traveling by car?
Is it better to take the body temperature with the touch of the hand, or using a thermometer?
The answers are simple. Of course, it is better to travel on horseback, if you can not drive a car.
Of course, it is best to check body temperature, through physical contact, if you can not read a thermometer.
Personally, I know that if we fill a chart with indicators, we lost a very important perspective that would give us the nude price, sorry, not nude, but the representation of the price, bar or candlestick.
But who forces us to use only graphic nudity, or only use indicators? We go beyond the crocodiles, whose survival is recorded in their genes. We can use both with and without indicators, according to our needs or style of trading. Humans can choose.
I use some indicator, today very differently to when i had only 1 year trading experience.
When I am doing trading, live, the last thing I look at is an indicator. But when I go to make a decision, I look at the objectivity of the indicator against my subjectivity, and that helps me a lot.
Just when I go on the road with my car, and a ban on driving past a certain speed appears, I do not trust my sensation only speed but I check the speedometer, which is more objective than me.
In short, for me there is no debate indicators vs no indicators. They are tools. If they are useful to you and you know to use them, use it. Otherwise, do not use it.
The indicators derived from price (called delayed) are another way to see the price, like Japanese candles or Bars. And they are as retarded as candles, unless you want to use as triggers, and in that sense they may be delayed and bad. The indicators should not be used as triggers, but as a different way of representing the price.
So, things are not black or white or, but there is a beautiful range of grays, allowing us to see beyond the crocodiles.
Dow.
broken a falling channel-downwards.
16919-16741 looks like a support zone. for time being.
breaking this zone may trigger a further fall of 500-800 points.
17236 +/- is resistance any bounce towards might be a good selling opportunity.
if channel breakdown tgt is considered = channel width, support area should be easily cleared.
these are just probabilities.
broken a falling channel-downwards.
16919-16741 looks like a support zone. for time being.
breaking this zone may trigger a further fall of 500-800 points.
17236 +/- is resistance any bounce towards might be a good selling opportunity.
if channel breakdown tgt is considered = channel width, support area should be easily cleared.
these are just probabilities.
TRADING IS REALLY TOUGH ....
So many different markets – F&O ... MCX ... NCDEX ...
So many different options ... in ... F&O ... MCX ... NCDEX ...
So many different Time Frames ...1M ... 5M ...15M ... Smaller TF ... Higher TF ..
So many different Trends ... Long Term Trend .. Medium Trend ... Short term Trend ... Counter Trend ...
So many different Contract and contract notes ... Contract Expiry ...
So many different ... Fundamental Analysis ... Technical Analysis ... Price Action ... Support levels ... Resistance Zones ...
Pivot ... High ... Low .. M2M ... NRML ... Points ... ODIN ... NEST ... CTT ... Service tax .. Education Cess ...
So many different forums ... So many different Threads in So many different Forums ... So many different Posts in So many different Threads in So many different Forums ... So many different advices ... critics ... in ... So many different Posts in So many different Threads in So many different Forums ...
So many different DISTURBANCES ... COMPLICATIONS ... NOISE ... POLLUTION ... DISTRACTION ...
TRADING IS REALLY TOUGH .... because of .. So many different DISTURBANCES ... COMPLICATIONS ... NOISE ... POLLUTION ... DISTRACTION ...
AND ... TO THINK ... WE INFLICT MOST / ALL OF THESE ON OURSELVES...
The next time, you fly ... request the air hostess / first officer ... just to see the instrumental panel in the cockpit ... compare this to Trading ...
Will the Groom / Bride thank about the marriage vows / rituals ... future complications .. savings .. in laws ... Children .. etc ... during the first night??/ Can / Will they perform in the first night ... If they think all these and more???
TRADING .. IS ...AS EASY AS EATING ... DRINKING ... SLEEPING ... PLAYING ...
TRADING IS EASY ... IF WE REMOVE .. DISTURBANCES .... COMPLICATIONS ... NOISE ... POLLUTION ... DISTRACTION ... FROM TRADING ...
TRADING IS NOT COMPLEX AT ALL ... :thumb:
So many different markets – F&O ... MCX ... NCDEX ...
So many different options ... in ... F&O ... MCX ... NCDEX ...
So many different Time Frames ...1M ... 5M ...15M ... Smaller TF ... Higher TF ..
So many different Trends ... Long Term Trend .. Medium Trend ... Short term Trend ... Counter Trend ...
So many different Contract and contract notes ... Contract Expiry ...
So many different ... Fundamental Analysis ... Technical Analysis ... Price Action ... Support levels ... Resistance Zones ...
Pivot ... High ... Low .. M2M ... NRML ... Points ... ODIN ... NEST ... CTT ... Service tax .. Education Cess ...
So many different forums ... So many different Threads in So many different Forums ... So many different Posts in So many different Threads in So many different Forums ... So many different advices ... critics ... in ... So many different Posts in So many different Threads in So many different Forums ...
So many different DISTURBANCES ... COMPLICATIONS ... NOISE ... POLLUTION ... DISTRACTION ...
TRADING IS REALLY TOUGH .... because of .. So many different DISTURBANCES ... COMPLICATIONS ... NOISE ... POLLUTION ... DISTRACTION ...
AND ... TO THINK ... WE INFLICT MOST / ALL OF THESE ON OURSELVES...
The next time, you fly ... request the air hostess / first officer ... just to see the instrumental panel in the cockpit ... compare this to Trading ...
Will the Groom / Bride thank about the marriage vows / rituals ... future complications .. savings .. in laws ... Children .. etc ... during the first night??/ Can / Will they perform in the first night ... If they think all these and more???
TRADING .. IS ...AS EASY AS EATING ... DRINKING ... SLEEPING ... PLAYING ...
TRADING IS EASY ... IF WE REMOVE .. DISTURBANCES .... COMPLICATIONS ... NOISE ... POLLUTION ... DISTRACTION ... FROM TRADING ...
TRADING IS NOT COMPLEX AT ALL ... :thumb:
Booked !!!
Relinfra/rcom/relcapital/rpower futures shorts.
Booked Maruti/Tatamotors/TVSmotors futures shorts.
Booked Banknifty futures shorts
Booked Nifty/Axisbank/yesbank Puts.
Out of all positions.
Searching for re-entries/ fresh trades now !
**Tvsmotors didn't gave any returns.** rather a loss of 1 Rs *lot size** some misreading/wrong judgement/wrong trade
Relinfra/rcom/relcapital/rpower futures shorts.
Booked Maruti/Tatamotors/TVSmotors futures shorts.
Booked Banknifty futures shorts
Booked Nifty/Axisbank/yesbank Puts.
Out of all positions.
Searching for re-entries/ fresh trades now !
**Tvsmotors didn't gave any returns.** rather a loss of 1 Rs *lot size** some misreading/wrong judgement/wrong trade
Trading is very easy if you think it is.
Trading is very difficult if you think it is.
Personally I have nothing against indicators,but have spent a lot of time in my early years experimenting with them and finally settled to an indicator free system.
This suits me as a person and my trading style.After all what matters to us is whether we make a money on our system or not.
No should be bound to any type of system or analysis,even with the same system each one of us should review their performance every time.
The way to progress is change,but too quick change without understanding the pros and cons of system is also not good.
I have seen people who try and use system which is based on Weekly or Monthly patterns and those people try to use the same indicators on a "1 minute chart".This is ridiculous.
Sometimes people don't even understand the concept of trend following indicators and oscillators.
Also I get requests for many people to create AFL's for Amibroker ,who don't even know what their system is or what indicator they are comfortable with.
Like Nitinji has said
The bottom line is simple.If you have a system you should know all the rules.An indicator will help you in that.
But if you have not developed your own system , do not try to copy someone else's system without understanding the pro/cons and most importantly your risk appetite.
That person may have developed the system over years of hardwork and understanding.What works for one may not work for you.
I personally know many traders who have and are still making money solely based on levels , without even using the charts.
A powerful reminder that "Simplicity works in every field".
Without discipline even the best systems are useless.
- Status
| Thread starter | Similar threads | Forum | Replies | Date |
|---|---|---|---|---|
| D | Shared Learning: Swing Trading Wisdom for the Indian Market | Swing Trading | 0 | |
| N | Learning! | Beginners Guide | 18 | |
| N | Learning to trade(I'm new to this). | Beginners Guide | 0 | |
| N | Learning from zero | Beginners Guide | 11 | |
| F | Learning to Fish | Technical Analysis | 10 |
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