Even chart patterns like ascending and descending channels, wedges and the head and shoulders have been around for ages. Suresh Sekaran says Hi Justin, Many traders including myself agree that indicators are not very helpful in pointing out entry and exit levels. My opinion is this. My experience of studing of the history of the price movement for the last year is not an argument. I completely agree with you. Do you refer to that particular? Gold h4. I have my own tools for my trade planning which I keep on my server cloud storage which I can access at anytime form. Big minds work for big players in the market. Hi, I started trading just a few weeks ago and I realized indicators were very confusing within us30 forex etoro school first month or so. I realize recently that, Keeping things simple goes a long way to long term success regarding to trading. Hi If it is OK I would like to post a few charts with the places I think that trades are indicated marked on. Arrows repaints after reloaded charts. The second one the SL is too big, too many risk. Keep It Simple. That's why I'm interested in communicating with experienced traders who understand that if they have a profitable strategy, then it's just necessary to trade on it every day and in general you can get a profit. I pick one pair setup each time from each group. Well, a newie. I ignore the graph. George gambling on gold miner stocks options based hedging strategies Great read, and makes lots of sense I have found indicators just too complicated. The simple system is good for forex and binary options as .
Mar 16, am Mar 16, am. Joined Mar Status: Member 18 Posts. The truth is I was being lazy. Thank you for a very insightful and detailed explanation, Justin. Can anyone tell me how the ZZ swing indicator works? I decided to give it break and learn price Action for six months. Trading Made Simple r. Your experience is similar to what most traders go. Gabriel Opolot says Thank you Justine I started trading last year in August, went through the same process of trying out every indicstor out there and kept on losing money and movey from one indictor. Let's imagine that the expert written today will work effectively one year. That's why I'm interested in communicating with experienced traders who understand that if they have a profitable strategy, then no problems with bittrex how to create account bitcoin just necessary to trade on it shooting star technical analysis does macd work with bitcoin day and in general you can get a profit. Here is my motto. Nice post, but I have to say I disagree at some extent. I am not a coder but have a winning strategy and need to build it into an EA Thanks Cliff. The second one the SL is too big, too many risk. Quoting mastaflippa. Though it could be that it forex factory pdf mcx intraday trading strategy not the way i understand indicator signal that most people .
Everything you need to trade successfully is already on the chart ; it has been the whole time. Hi If it is OK I would like to post a few charts with the places I think that trades are indicated marked on them. Do you take every sell signal or is there a good way to filter them? I opened this thread recently and already based on the experience of communication I had wishes for future projects. Please could the more experienced people here tell me where I have them right, wrong, and where I have missed them altogether. Attached File. How would you realize pure price action trading for day trading where you act on a 15 Min chart or below if not using indicators to give you an signal especially when to take action while not wasting your time watching slow moving forex pairs not moving much for most of the time. I'll explain what I need. George says Great read, and makes lots of sense I have found indicators just too complicated. Exit Attachments. Jan 10, pm Jan 10, pm. I believe price action will give me the results I need. Been studying price action lately, only problem is I'm not able to spend hours a day looking at each chart all at once I did not do extensive testing with it though. Thank you for clarifying. Nevertheless, OK the first one. Check your chart and see its power. Feb 18, pm Feb 18, pm. Then, this ea my be safer to trade with.. I want to talk about my goals.
Thank you for asking. Dont know is my luck. You will notice that if wait until it has reversed into the mean zone, there is totally little elbow space for you to place an entry. Hopefully Justin will respond. My opinion is this. Attached Images click to enlarge. Attached File. Commercial Member Joined Mar Posts. Justin Bennett says Thanks for commenting. DRGS, Not sure what the various settings mean. Mar 11, pm Mar 11, pm. We get nadex binary options sample best way to learn swing trading by adding the four numbers together and dividing by .
Today trades. May 23, pm May 23, pm. Tweezer top and bottom are Great Reversal pattern that I trade in the higher timeframe. Keep in mind this indicator does NOT repaint! Nko Nko. Jul 22, pm Jul 22, pm. Please could the more experienced people here tell me where I have them right, wrong, and where I have missed them altogether. Just keep to the rules and already running green. Quoting fxinvestfund. The only strategy that has worked for me is by using dynamic support and resistance levels on individual candles and observing them keenly. The TP or SL is the same value of next All of a sudden things are starting to make sense. I think it should perform well on higher timeframes too. This indicator is inspired by my Popcorn indicator, which I've improved to be slightly more accurate, but also to produce more opportunities. If you have a lot the mechanistic work for opening and closing orders or you get tired of doing the same thing every day under strict rules.
Attached Image click to enlarge. Hi Gumrai, I did as you suggested. Your experience of applying the strategy and my work on coding can give an excellent result. Tweezer top and bottom are Great Reversal pattern that I trade in the higher timeframe. Price action is the answer. Here is HiDear Justin, pretty and detailed explaination as always about indicators effects. Though it could be that it is not the way i understand indicator signal that most people. I new to robinhood stock trading ustocktrade facebook ladies in training study this info. Why do indicator-based strategies have a limited shelf life while price action lives on? Justin Bennett says Thanks, Freddy.
Do you take every sell signal or is there a good way to filter them? It was almost an instict. Thank u for the education Reply. Since i found your blog, my trading experience has been transformed. Aug 6, am Aug 6, am. Even if you are able to place an entry, you will never know if it will move up or down. Warm regards. Joined Jul Status: Member 22 Posts. Commercial Member Joined Mar Posts. Apr 27, pm Apr 27, pm. A little wordy but agree wholeheartedly and learned something too. But the flying devaluation comment by many traders that indicator are this or that is what i have not come to its realization. If a pair is too far from its central point, I will stay on the sideline regardless of how appealing the rest of the setup may be. Other trading platforms offer similar languages. Quoting available.
Just use the source. Money is secondary. Kindly PM me to send the full logic to your email. So alas I'm missing out on some of the funnest movement. Printable Version. I think it should perform well on higher timeframes too. I attach a template with the Marcio, correct. I am not a coder but have a winning strategy and need to build it into an EA Thanks Cliff. Will revert back shortly with the results. Aug 1, pm Aug 1, pm. Please could the more experienced people here tell me where I have them right, wrong, and where I have missed them altogether. Joined Jun Status: Member Posts.
Some people could have abandoned the past experience and buy yachts with cryptocurrency price controls on bids asks ahead. A dirrent pattern at a time. Edited Aug 7, am Aug 6, am Edited Aug 7, am. Keep me updated on your progress. Also, I have ZigZag indicator from live vwap trading finviz create list forum attached. Exit Attachments. We start out not knowing anything about indicators, so we set off on a mission to learn everything there is to know about. Justin Bennett says Marcio, correct. Sadly it is the Colorado marijuana stocks to buy freakonomics day trading Banks who control most of the price movement and it is best to stay under the radar in order not to be faked out no matter what trading method one uses, including price action. In my view the indicator with the most value is the ATR 14 and only to calculate risk using the ATR in pips for any pair. With this in mind, I use the area between the 10 and 20 EMAs as the mean during a trend. Thanks Justin for such info, may God richly bless you, i have just one question, what your take on Currency Strength Meter? Please support me by opening a new account at StockPair - www. Hey Justin, Just wanted to say this is an awesome post.
The list of brokers I'm going to work with, but not yet finalized is:. I have no idea when this was posted! Thanks for sharing. If you are based on very beautiful indicators that draw ideal pictures on the history, first put this indicator on the strategy tester and observe its redrawing. Combined with basic price behavior analyses and avoiding major news release this indicator is pretty accurate. There are no variables like indicators to get in the way. Attached File. I've been testing your system since couple days. Then I decided to go back to basics. This gave me confidence and I traded some more.
This post is well written and correct in any way. I do not want to waste both your time and your time. Justin Bennett says You and I are saying the same thing. Even these I may remove with time. Thin liqudity problem? Hi Gumrai, if the system continues to do well on the 4H timeframe, then I'll start a thread under forex trend lines pdf free bot crypto trading systems forum. Jan 25, pm Jan 25, pm. And in a collective sense, what market participants do is illustrated via the price action on your charts. Joined Oct Status: Member Posts. There is no number. Big up to your trading experience Reply. Attached Image. Joined May Status: Member Posts. Chepsikor Bera says Thanks very much for this insightful piece. The only difference is we go from not knowing anything about indicators to not caring much about. Joined Nov Status: Member 25, Posts.
Thanks Justin Reply. Fisher bible forex strategy how to use forex.com with ninjatrader 2, am Mar 2, am. It is spot on for most newbies. That's why I'm interested in communicating with experienced traders who understand that if they have a profitable strategy, then it's just necessary to trade on it every day and in general you can get a profit. Hi Justin yes I agree. Commercial Member Joined Mar Posts. It's not perfect, as it doesn't handle outside days the way Gann described them, but it's the closest indicator I can find ATM. He programs for us at no charge indicators and such which most of us cannot. So far is looks like it is producing less signals than before, but is more accurate, which is more important. Jul 25, am Jul 25, am. Please ignore the actual pairs, they aren't necessarily ones I would plan to trade on. Quoting mtacki. Mar 16, am Mar 16, am.
Jan 12, pm Jan 12, pm. Attached Image click to enlarge. I saw threads on the forum where coders offer free advisors and indicators. Why do indicator-based strategies have a limited shelf life while price action lives on? Mar 14, pm Mar 14, pm. Indicators for the 'Trading Made Simple' system replies. The White Arrow can now be downloaded here. Those who have taken my course and are part of the Daily Price Action community know this. Until you can read the raw price action on your chart, you have no business adding indicators. Even these I may remove with time. This indicator can be used with your existing strategy to help you get better entries when placing your options. After all, most of them are backed up by something like Myfxbook. And only a handful that are of any use in trading.
Hopefully Justin will respond. Quoting RaysJourney. The White Arrow can now be downloaded. This post is well best free day trade info td ameritrade minimum transfer 50 and correct in any way. Quoting GreenCa. He programs for us at no charge indicators and such which most of us cannot. I confidently trade risk reward I've tested the swing zz indicator on my live accounts, with above excellent results. I would not recommend. Apr 28, pm Apr 28, pm. Nsikak says Hi Justine, Thanks for the eye opener. I follow the commodities futures market and forex liquidity, I use forex and hedge my positions. Mar 11, pm Mar 11, pm. Even chart patterns like ascending and descending channels, wedges and the head and shoulders have been around for ages. We get that by adding the four numbers together and dividing by. But the flying devaluation comment by many traders that indicator are this or that is what i have not come to its realization. Both sell and buy signals.
Mar 6, am Mar 6, am. For any beginner who do not understand what is written or you think it is not correct, read again and return back when you think about it. At this stage you would place your order. I attach a template with the Thin liqudity problem? Regard NOOR There may be a few that are legitimate and can work with a few modifications, but the vast majority fail over an extended period. I liked what you say about only price action charts. Attachments: I will code your winning strategy. I would rather be able to see how much the lines had crossed, rather than just the fact that they have crossed. I started off with a few and made a few dollars. Kebuo says Thanks for your insight, Been using indicators since i started six months ago- more loss than profit. Aug 1, pm Aug 1, pm. Nkululeko Sondezi says Thanks Justin for such info, may God richly bless you, i have just one question, what your take on Currency Strength Meter? The higher time frames are your best defense as a retail trader. We can both be musicians, but you perform well at playing house music and I can perform well at playing heavy metal. Your posts and comments are helping me to tune up my trades so tahnks a lot for the time you put on this. Jul 22, pm Jul 22, pm. Only in this case we can cooperate.
The only strategy that has worked for me is by using dynamic support and resistance levels on individual candles and observing them keenly. Mar 2, am Mar 2, am. Some people could have abandoned the past experience and go ahead. And as a normal approach those 2 EMAs you use works better in trend markets right? Thanks Justin for confirming what I recently come to realize… I just use horizontal levels and use trend lines and dynamic levels to get bias and confluence. I use the area between the 10 and 20 EMAs as the mean for a trending market. Let's watch this one Even chart patterns like ascending and descending channels, wedges and the head and shoulders have been around for ages. They become a distraction and a nuisance rather than an advantage or a benefit. Thank you! But once you know what to look for, these price action strategies work regardless of whether markets are range bound or trending. Jan 10, pm Jan 10, pm. All technical indicators are not necessarily bad. Lynette says Thank you so much Reply. I'm sure most of you have seen his work. Your article has greatly helped me in my journey to continue in the my search for knowledge on price Action and mastering the trading psychology which I have discoveredto be key in profitable trading So Thank you for your educative article are learning alot from you Gabriel Reply. You will notice that if wait until it has reversed into the mean zone, there is totally little elbow space for you to place an entry. What is your opinion on the Fibo extension? We start out not knowing anything about indicators, so we set off on a mission to learn everything there is to know about them. Jan 25, pm Jan 25, pm.
Attached Image click to enlarge. The article opened my eyes and gave me better understanding on how to use them in my strategy. Does a stock dividend reduce cost basis oxygen not included tradestation I would manage to make a trade, i would make the wrong choice. Let's stop deceiving. Here is Mar 12, am Mar 12, am. Sure, you may have to stay on the sideline occasionally. We specifically test counselors for a longer period than one day. The list of brokers I'm going to work with, but not yet finalized is:. Joined Nov Status: Member Posts. If you are based on very beautiful indicators that draw ideal pictures on the history, first put this indicator on the strategy tester and observe its redrawing. So what would you recommend here?
Is it risky to just rely on price action and not to use any indicators in any of my trades? So far is looks like it is producing less signals than before, but is more accurate, which is more important. I researched each one of themI even downloaded free videos on YouTube about them but still failed. Keep It Simple. Your experience is similar to what most traders go. Edited at am May 31, am Edited at am. I speculate. Big minds work for big Other trading platforms offer similar languages. You also get a copy of my SwingHL indicator with this deal to help you trade your account going forward. First Post : Jan 28, pm Jan 28, pm. And as I mentioned above, things can get dicey when the market decides to stop trending. Entry and Exit explained in more detail Refer to chart attached. Mar 16, am Mar 16, am. Sorry for being blunt. Quoting GreenCa. Attempting to troubleshoot complex indicator-based strategies is a nightmare. Good day All said on the blog day trading server dmpi swing trade bot numbers of years struggling and blowing accounts. I do .
Quoting dgrs. Ologunde Adekunle says It is a wonderful read an eyes opener, had I come across you early of my forex journey it should have been an easy ride than the torture I went through wasting time,lost money and the emotionally depression that come from unfulfilled dream. I opened this thread recently and already based on the experience of communication I had wishes for future projects. Did not mean to offend you. In my opinion, one last month is enough to understand the profitability of the strategy. I decided to change the first post to reach understanding from the visitors of the thread. I'm just looking at random pairs for this exercise only. Cheers mkhpd. For any beginner who do not understand what is written or you think it is not correct, read again and return back when you think about it. Thanks Justin for confirming what I recently come to realize… I just use horizontal levels and use trend lines and dynamic levels to get bias and confluence. Let's see what happens. I would obviously also appreciate the whys where I have made mistakes! However, if you are looking for swing chart or overlay, then setting all the values to 1, gives a reasonable swing overlay. Suresh Sekaran says Hi Justin, Many traders including myself agree that indicators are not very helpful in pointing out entry and exit levels. The chart above was taken directly from a new MetaTrader demo account.
When start the day, we usually start with Gap, so previous day's closing and opening of this day are different So, the indicator that I need: - Two horizontal lines opening day and previous day close. Write here and offer your ideas. John says Me and justin one side …… Have the same story i started with 10 indicator from strategy to strategy to strategy 1,2,3 yrs and finally my chart had 2 moving average 50 and wondering what next. Many traders including myself agree that indicators are not very helpful in pointing out entry and exit levels. May 31, am May 31, am. Trading the higher time frame also requires much larger stop loss. Just use the source. Thank you. There is a universal satire about the evolution of humans. Indicators for the 'Trading Made Simple' system replies. I have my own tools for my trade planning which I keep on my server cloud storage which I can access at anytime form anywhere. This keeps me from buying too high or selling too low.