Strategies, Systems & Indicators
- Thread starter Edward
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well guys as my edward said that i will be posting live calls i will do my level best to post it i only trade three pair that is eu, ej, gu, i think i am ok with this tree pair i dont target higer profit. my stop loss is fixed 25 pip so far, if i will get any signal i will post my live calls, and a heart full thanks to edword to give me this opertunity.
Sumit, I believe we are sitting at a junction, with immense potential. Retail forex trading is going to change the way India trades in the coming years...
There is immense potential for all kind of people, Marketeers, traders, fund managers, risk managers, programmers, investors, brokers, you name it and the potential is Multi Million dollar potential... me and few friends of mine across india have joined hands to do something big.... and I see people like you playing a major role in the coming days... carving a career out of forex trading... irrespective of whats your background or whats your education is or your communication skills are... forex trading shows no favoritism, it is open to anybody who is ready to pay the price of Discipline, Emotional control and implementing systems...
You know the future of a particular sport depends upon the participation of the younger generation... similarly people like you actually give us an idea of how forex trading is going to rule trading world in the future... So, rock Sumit, we are all with you....
Lets get ready Rummmmmmmmmmmmmmmblllllllllllllle :clapping:
There is immense potential for all kind of people, Marketeers, traders, fund managers, risk managers, programmers, investors, brokers, you name it and the potential is Multi Million dollar potential... me and few friends of mine across india have joined hands to do something big.... and I see people like you playing a major role in the coming days... carving a career out of forex trading... irrespective of whats your background or whats your education is or your communication skills are... forex trading shows no favoritism, it is open to anybody who is ready to pay the price of Discipline, Emotional control and implementing systems...
You know the future of a particular sport depends upon the participation of the younger generation... similarly people like you actually give us an idea of how forex trading is going to rule trading world in the future... So, rock Sumit, we are all with you....
Lets get ready Rummmmmmmmmmmmmmmblllllllllllllle :clapping:
Shv3,
Thanks for your inputs and efforts. Its great yo see yourself adding some value to think about in your first post itself. Keep it up....
Hi Edward,
ADX is something which I was using when I used to do day trade in Indian Stock Market and most of the times (say 70% ) it used to keep me in right direction and also helps me to catch big moves.
What I used to do was like this.
Primary condition: I look for the ADX line ( the white one in the chart) to be above 20 or atleast moving upwards near 20
Trade :
1. Long: As soon as +DI crosses above 20 ( Green line)
2. Short :As soon as -DI crosses above 20 ( Red line)
Though I use other aspects like support,resistance, Divergence and candlesticks for going for a trade and ADX is to keep me in the trend and momentum.
Below is the chart of TATA Motors for last 5 days. take a look at it!!
the Gap ups and downs are common in stock market and still ADX works here most of the times.Hence its use in Forex can't be undermined.
I think somewhere in previous posts you have told that you will advice us on how to identify a high probability trade.Hope you will find some free time to put a light on that matter.
Regards
Raghav
Thanks for your inputs and efforts. Its great yo see yourself adding some value to think about in your first post itself. Keep it up....
Hi Edward,
ADX is something which I was using when I used to do day trade in Indian Stock Market and most of the times (say 70% ) it used to keep me in right direction and also helps me to catch big moves.
What I used to do was like this.
Primary condition: I look for the ADX line ( the white one in the chart) to be above 20 or atleast moving upwards near 20
Trade :
1. Long: As soon as +DI crosses above 20 ( Green line)
2. Short :As soon as -DI crosses above 20 ( Red line)
Though I use other aspects like support,resistance, Divergence and candlesticks for going for a trade and ADX is to keep me in the trend and momentum.
Below is the chart of TATA Motors for last 5 days. take a look at it!!
the Gap ups and downs are common in stock market and still ADX works here most of the times.Hence its use in Forex can't be undermined.
I think somewhere in previous posts you have told that you will advice us on how to identify a high probability trade.Hope you will find some free time to put a light on that matter.
Regards
Raghav
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Should we start an Indicator thread?
For people who are confused with the ADX discussions... don't bother you carry on with the simple lazy boy... for people who would like to see what Raghav is talking about .. do this...
Right click on Lazy Boy chart, >>> Indicator List >>>> ADX >>> Edit >>> there in colors, change from non to your color of choice and you will see the chart as seen in Raghav's chart posted above.
@ Raghav,
J welles Wilder, is my hero in Technical analysis... what people might not be knowing is of the 30 in built indicators in MT4, 4 are from Welles wilder ...
1. RSI
2. ADX
3. Average true range
4. Stop and Reversal
Welles wilder considered ADX to be his greatest achievement when he formulated it... Once I was so fascinated by wilder that I used to use only his indicators and nothing else... wilders moving average is also available, and once upon a time I used to be a great fan of that indi too.
I don't want to get into a tangent subject here, but if people are interested may be we can start a parallel thread on indicators and their application... infact I hve recieved few smilar requests in my pm for such a thread.
Now the problem in this kind of thread is that it gives few people an 'pseudo intellectual stimuli' of technical analysis ( :rofl: as laluji puts it, he sure has a way with words) ... people only talk about indis, and forget to put the implementation, discipline and emotional control in action.. Money management and risk management is almost forgotten... that's the only problem with discussing indicators.
For people who are confused with the ADX discussions... don't bother you carry on with the simple lazy boy... for people who would like to see what Raghav is talking about .. do this...
Right click on Lazy Boy chart, >>> Indicator List >>>> ADX >>> Edit >>> there in colors, change from non to your color of choice and you will see the chart as seen in Raghav's chart posted above.
@ Raghav,
J welles Wilder, is my hero in Technical analysis... what people might not be knowing is of the 30 in built indicators in MT4, 4 are from Welles wilder ...
1. RSI
2. ADX
3. Average true range
4. Stop and Reversal
Welles wilder considered ADX to be his greatest achievement when he formulated it... Once I was so fascinated by wilder that I used to use only his indicators and nothing else... wilders moving average is also available, and once upon a time I used to be a great fan of that indi too.
I don't want to get into a tangent subject here, but if people are interested may be we can start a parallel thread on indicators and their application... infact I hve recieved few smilar requests in my pm for such a thread.
Now the problem in this kind of thread is that it gives few people an 'pseudo intellectual stimuli' of technical analysis ( :rofl: as laluji puts it, he sure has a way with words) ... people only talk about indis, and forget to put the implementation, discipline and emotional control in action.. Money management and risk management is almost forgotten... that's the only problem with discussing indicators.
Re: Should we start an Indicator thread?
Edward,
Since Laluji seems to be nowhere around we can definitely start a thread on indi's :lol:.He must be busy in giving live calls.
As you rightly said all Indi's are ultimately the outcome of price action and not vice versa.I call price as king, volume as queen and indi's as servants.
Regards
Raghav
Edward,
Since Laluji seems to be nowhere around we can definitely start a thread on indi's :lol:.He must be busy in giving live calls.
As you rightly said all Indi's are ultimately the outcome of price action and not vice versa.I call price as king, volume as queen and indi's as servants.
Regards
Raghav
Re: Should we start an Indicator thread?
I don't intend to refute anyone out here. I understand every trader has his/her own perceptions which seem to work quite well for them. As far as my perception regarding this goes, I feel "some" indicators are more (if not less) forward looking than price. The trick is to actually know how and when to use them.
I am basically a medium term trader as most of you guys know. But when I trade on swing basis or on week basis, then most of the time I simply pick up trades seeing some indicators. For me, derivatives of price (that is, indicators) hold no less value than the essential entity itself.
Just my perception. May be its wrong. But it works for me. There's always the other side of a coin.
Nice effort going by everyone here.
Tc
I don't intend to refute anyone out here. I understand every trader has his/her own perceptions which seem to work quite well for them. As far as my perception regarding this goes, I feel "some" indicators are more (if not less) forward looking than price. The trick is to actually know how and when to use them.
I am basically a medium term trader as most of you guys know. But when I trade on swing basis or on week basis, then most of the time I simply pick up trades seeing some indicators. For me, derivatives of price (that is, indicators) hold no less value than the essential entity itself.
Just my perception. May be its wrong. But it works for me. There's always the other side of a coin.
Nice effort going by everyone here.
Tc
Last edited:
Re: Should we start an Indicator thread?
The beauty of Technical analysis lies in its interpretation without sacrificing the Objectivity of the system..
I don't remember whether i shared this here or not, but i am tempted to share it, excuse me if it's redundant...
few hundred years back medical science knew nothing about the human body, not much compared to todays level of understanding...
someone stood up and might have said, hey look the heart beats make a noise and as it is coming from within the system ie. the body, it should know more about the body than us, and it should be an indicator of the body's function. he was right, medical practitioners started with simple pipes to hear the heart beat and went on to invent the stethoscope. It did serve as an indicator for a couple of decades...
then came the next indicator, the pulse rate and together they ruled the medical world for quite sometime, in this past 10 years no one ever checked my pulses from myy wrist.. a common practice sometime back...
In the old days the only indicator that they had were this two, then came thermometer and a new indicator was measured , the body temperature and together this three were enough to take care of the 90% commonly know diseases... then someone stood up and might have said, hey every time i am feverish I pee yellowish, so may be the urine knows more about body as it's the data that comes from the body within... and then started a new field of pathological science....
Technical Analysis is similar to the Medical Science advance, as per my opinion... As medical science takes each data from the body eg. temperature, pulse, blood pressure, cardiogram, urine, blood samples, weight, etc etc and tries to analyse it and come out with the diagnosis, the same way we as technical analyst, take the data, eg, the volume, price, high low, open close, oversold levels, overbought levels, buys sellers, resistances, supports, etc etc.... each serves as the data similar to our body data... and these Market datas are the datas that come from the Market within, they know more about the Market then we do...
Now, the pathologist might try using different chemicals and atmosphere, and we as TA use differnt formulaes and their combinations and permutations.... the idea is to come out with a logic that is more right than wrong.. and then just to believe and apply it...
All the complex surgeries were first performed on the dead body and similarly all new systems should be successful in the historical data... once you gain confidence you go live... I don't think there is much of a difference between the Medical analyst and teh Technical Analyst...
Now the data available in the Market is same the application for the indi is different... Price Action raw will be like checking the pulses or with stethoscope... and a indicator on price action would be like a Cardio gram test :lol: just to draw an analogy...
Now there are experts who only need to the check the pulse and diagnose but I am the new generation Doc, I need a cardio gram test to pinn point the problem... I think that's what a modern technical analyst is...
The beauty of Technical analysis lies in its interpretation without sacrificing the Objectivity of the system..
I don't remember whether i shared this here or not, but i am tempted to share it, excuse me if it's redundant...
few hundred years back medical science knew nothing about the human body, not much compared to todays level of understanding...
someone stood up and might have said, hey look the heart beats make a noise and as it is coming from within the system ie. the body, it should know more about the body than us, and it should be an indicator of the body's function. he was right, medical practitioners started with simple pipes to hear the heart beat and went on to invent the stethoscope. It did serve as an indicator for a couple of decades...
then came the next indicator, the pulse rate and together they ruled the medical world for quite sometime, in this past 10 years no one ever checked my pulses from myy wrist.. a common practice sometime back...
In the old days the only indicator that they had were this two, then came thermometer and a new indicator was measured , the body temperature and together this three were enough to take care of the 90% commonly know diseases... then someone stood up and might have said, hey every time i am feverish I pee yellowish, so may be the urine knows more about body as it's the data that comes from the body within... and then started a new field of pathological science....
Technical Analysis is similar to the Medical Science advance, as per my opinion... As medical science takes each data from the body eg. temperature, pulse, blood pressure, cardiogram, urine, blood samples, weight, etc etc and tries to analyse it and come out with the diagnosis, the same way we as technical analyst, take the data, eg, the volume, price, high low, open close, oversold levels, overbought levels, buys sellers, resistances, supports, etc etc.... each serves as the data similar to our body data... and these Market datas are the datas that come from the Market within, they know more about the Market then we do...
Now, the pathologist might try using different chemicals and atmosphere, and we as TA use differnt formulaes and their combinations and permutations.... the idea is to come out with a logic that is more right than wrong.. and then just to believe and apply it...
All the complex surgeries were first performed on the dead body and similarly all new systems should be successful in the historical data... once you gain confidence you go live... I don't think there is much of a difference between the Medical analyst and teh Technical Analyst...
Now the data available in the Market is same the application for the indi is different... Price Action raw will be like checking the pulses or with stethoscope... and a indicator on price action would be like a Cardio gram test :lol: just to draw an analogy...
Now there are experts who only need to the check the pulse and diagnose but I am the new generation Doc, I need a cardio gram test to pinn point the problem... I think that's what a modern technical analyst is...
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