nanningbob wrote:

atharmian wrote:Bob,

I have been rethinking:

1. Would it be simpler to use ADX(14) > 25 for trending, and ADX(14) <20 for ranging, instead of TMASlope (repaint)? Or does TMASlope have some better properties? I would think the TMASlope would actually lag more given more calculations and smoothing.

2. Essentially 10.2A looks at trending in H4 and above, while 10.3 looks at ranging H1 and below. But why can't we have both trending and ranging in any TF?

3. Isn't the basic issue about trading interval (time between entry and exit)? When we trade, say, H1 TF, what is the nominal trading interval? 30 min, several hours, few days? How about other TFs, in your experience?

4. Re: volatility groups, shouldn't they also be classified according to the sessions (Asia, US, Euro and overlaps)? Because sessions hugely differ in trading style and pairs traded.

5. Is there an easy volatility measure, in your opinion, say ATR, that can guide us with our trading?

Regards,
Athar.

nanningbob wrote:Yesterday was a bad day 7-13 will look at the ones left and see if I want to close. I was amazed that some of these trades after entering didnt move enough pips to slide the SL up but I did save by setting SL -18 instead of -20. Total for the day was -102 pips. I am going to wait until the Euro Open to set trades today. I will be in a conference this morning so wont get a chance to post. If you see some good trade setups feel free to post some pictures. The markets were really flat yesterday which is going to give a bunch of flat lines today. Expect to see the green and whites on top of each other. Maybe a pretty much no trade day even for scalping.

I am not an ADX dont use it. The issue with slope indicator is not repainting, it is learning how to use it and read it. Get repainting out of your vocabulary or you will never see its usefulness. 10.2a trades are longer term trades that is why you use the 4 hour Chart, 10.3 is a scalping ranging system, dont forget that. Price still has to move to have successful trades, Yesterday was about as dead as dead can be. My aud/chf trade never moved enough to hit a SL or move the SL up, that is really dead. The amount of time you spend in a trade depends on whether or not price is moving. If price is not moving you can sit there all day and have nothing happen.

The bottom line is this and I know many professional traders. They use one or two indicators and trade. The more info you apply the more confused you will get. You may have noticed since my mistake of 10.0 and making too many decisions, I have kept my systems simple and easy. Very easy reads and instructions. Adding more and more indicators will just confuse you because they are all based on the same thing. Take a moving average or two or three, do a math calculation with them and put them on a chart. Trading is basically simple. Draw a couple of lines on a chart if above buy if below sell. Price has no relationship to these charts or indicators it is moving around as people do business. We need a frame of reference so we can trade. If you draw a line horizontally across the screen and say buy above sell below. Then draw a 45 degree line as a 2nd entrance/exit point you have a trading system that would work. This one uses two pivot lines and a MA line. That is all you need. If you want ADX to be your angle line, it will work. If you want FIB to be your line instead of pivots it will work. If you want MACD to be your angle line and 6th indicator be your horizontal line, it will work. That is because of one basic fundamental in life that we learned in science class. Something that is in motion will continue in motion until an equal or greater force is enacted on it. That is the very simple heart of trading FOREX. Price will move in a direction until another force moves it in another direction. So when you put any kind of line on the screen and price crosses that line your chances of it continuing are better than it not continuing. Then it is a matter of making your winners bigger than your losers. I dont know how it can be made any simpler than that. There are no magic indicators out there because they all are based on a math formula added to a MA line or a static line. That is why there is a million of them. None of them work, it is just a reference because of a simple scientific fact. Once something is in motion it will continue in motion until an equal or opposite force is enacted on it. So if the motion continues you have a winner, if it doesnt you have a loser, If it doesnt move then nothing. That is all there is to Forex.

effluvium wrote:

nanningbob wrote:The bottom line is this and I know many professional traders. They use one or two indicators and trade. The more info you apply the more confused you will get.......

Adding more and more indicators will just confuse you because they are all based on the same thing.
Take a moving average or two or three, do a math calculation with them and put them on a chart. Trading is basically simple. Draw a couple of lines on a chart if above buy if below sell. Price has no relationship to these charts or indicators it is moving around as people do business.
We need a frame of reference so we can trade. If you draw a line horizontally across the screen and say buy above sell below. Then draw a 45 degree line as a 2nd entrance/exit point you have a trading system that would work. This one uses two pivot lines and a MA line. That is all you need.

Absolutely true Bob- I do agree with you. A successful trader don't use a lot of indicators, and too often he's trading naked. A basic strategy with a simple cross between 2 MA could be really successful, if the trader is consistant and persistant. Thank you for this wisdom Bob.

atharmian wrote:Bob,

Thanks, you are certainly right.
One thing I don't get though- saying that lower TFs are about ranging, higher TFs about trending. I see no difference; it all depends upon how volatile/calm the market is in the given TF, as recent days suggest.

Happy conferencing ....


Athar.

effluvium wrote:

nanningbob wrote:The bottom line is this and I know many professional traders. They use one or two indicators and trade. The more info you apply the more confused you will get.......

Adding more and more indicators will just confuse you because they are all based on the same thing.
Take a moving average or two or three, do a math calculation with them and put them on a chart. Trading is basically simple. Draw a couple of lines on a chart if above buy if below sell. Price has no relationship to these charts or indicators it is moving around as people do business.
We need a frame of reference so we can trade. If you draw a line horizontally across the screen and say buy above sell below. Then draw a 45 degree line as a 2nd entrance/exit point you have a trading system that would work. This one uses two pivot lines and a MA line. That is all you need.

Absolutely true Bob- I do agree with you. A successful trader don't use a lot of indicators, and too often he's trading naked. A basic strategy with a simple cross between 2 MA could be really successful, if the trader is consistant and persistant. Thank you for this wisdom Bob.

nanningbob wrote: China has locked down alot of locations due to their government meetings.. this is affecting ALL vpn companies.. you will have to test various locations and protocols to see what is working for you... it is varying from location to location inside china which ones are working. This should resolve itself once the communist congress stops meeting in a week or so.

POH wrote:Is anyone having any luck today? Seems like forex knows what I'm doing and is going the opposite direction all week, I'd be rich if I placed all trades in the opposite direction.