Indicators Used at Nobullshit Network Forum

nobsforex · 05-15-2007, 06:00 PM

For my trading methodology, I’ve started off with CCI and Trendlines, before Dan from Life Holdings come into the picture with 200EMA as well as MACD right now at this point. From time to time I’ll insert Fibonacci retracements and Bat Indicator developed by Team Aphid. Infinity Shares team has taught me well on the [...]

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soho · 06-09-2007, 10:44 AM

heh..as for me...I'm using MA(100,20,5), RSI, MACD , and most importantly the daily chart to confirm my entrance. I'm not greedy, my TP usually is abt 20-30 pips..And I don't have many trades! That's it..heh..is a long journey i supposed.

**Jude** · 06-09-2007, 12:10 PM

Hey soho, thank you for joining us on NN and pretty nice for you first post! Wanna share your trading methodology with us as well?

JoseLeon · 06-09-2007, 01:14 PM

I use MACD and EMA 200 in 1h, emas 4,13 and 50 in 4 h, stoch in daily.

I look if MACD shows positive or negative from 15m to 1h to find possible changes in the trend, emas in 4h to possibly enter or close my positions and confirmation with stoch in daily.

Traderj · 06-09-2007, 01:20 PM

I'm sorry but as soon as I see people posting and talking about using indicators it scares me. You all do realize of course that ALL indicators are HISTORY.. meaning they are taking information that has already happened and they are then plotting that info. They are NOT predictive and they can not and do not tell you what is going to happen in the future, The very best you can hope for is a somewhat higher probability entry point but even that is not a sure thing.

Be very careful loading up on too many indicators, any market whether it is forex or futures or stocks it makes no difference the only thing that really matters is true market price actions.

Remember all markets are driven by two things fear and greed.. there is nothing wrong with using a TA tool or maybe even two to confirm the basic knowledge you possess about market direction but trying to use them over the long haul as entry and exit points is a proven way to lose your account...

Remember all indicators are like a broken clock, even it is right twice a day.

J

JoseLeon · 06-09-2007, 05:17 PM

Yes TraderJ, that's true: all indicators delay but sometimes they give a good orientation at the long term including pivots.

How do you trade with the price action? candlesticks?

**Dan** · 06-09-2007, 09:13 PM

Quote:

Originally Posted by JoseLeon

How do you trade with the price action? candlesticks?

Candlestick patterns.

I think indicators can provide very good indication along with PA patterns. It's working very well for me.

JoseLeon · 06-09-2007, 09:46 PM

Yes, I am reading 2 good books in spanish language, the first to understand correctly the candlesticks and the second how to operate with them.

It will take some time for me but I think that it's the best option to take if I want to trade correctly.

Traderj · 06-09-2007, 09:52 PM

Quote:

Originally Posted by JoseLeon

Yes TraderJ, that's true: all indicators delay but sometimes they give a good orientation at the long term including pivots.

How do you trade with the price action? candlesticks?

Hey,

Yeah I wasn't meaning that indicators have NO value at all, I was just saying I worry when I see people talking about this that and the other indicator.. they are useful in many ways as confirmation of trend reversals etc.. but like all things trading they do have a limited value when used alone.

I do use price action, candlesticks and I like using BB's to filter my positions.