How Important Is Your Color Scheme For Charts-Indicators?

1
I was wondering, whenever I see Like a semi-pro to pro trader's chart it tends to be really visually clean and usually only a few indicators. I was wondering but Is there a specific reason for this? It seems Like most people newer to trading have bright charts and loads of indicators.

Is there some kinda psychological conditioning behind having clean charts that pro traders pick on purpose or am I only viewing a limited number of instances?

Thanks!


Re: How Important Is Your Color Scheme For Charts-Indicators?

3
lol, normally the longer you learn and trade, the more you understand you don't need a bunch of fancy indicators, only a few. First, you should get used to price action, volume, S/R, 2 or 3 charts with different tf, e.g. M1, M5, M15 where M5 is the trading tf (don't confuse with switching tfs). Better avoid EURUSD, CHF-pairs and gold - noobs only look for low spreads or pairs everyone trades and loose. Many pros only trade one or two crosses or indices. GBP-pairs are good for beginners and not as boring as EURUSD ;) also look for correlations.

Indis are good when you know what style you want to trade and the indis fits it and have much synergy to it. Don't believe more is best. Totally underestimated by beginners is money management - here is often the key why 90% of beginners loose. Also beginners take for everything an indicator, even for TL, S/R or whatever should made manually - I never saw or heard a pro uses indis for that. The result is they think TLs and S/R don't work and are frustrated. Of course, search something at the wrong place and you must be frustrated. This needs experience - there can be found many S/R or TLs on the chart, but you need only the important ones and after a while often you see them already with your eyes - what keeps the charts even cleaner to focus on price action.

There are many kinds of trading, but the more experienced the traders are, the more similarities you can find - they don't believe everything they hear, just pick the cherries which make sense in their trading plan, they don't switch markets and tfs and methodologies and are disciplined. Trading is also personality development (ok, martial arts as well), mentally hard work, avoid bad habits, make a check list and so on. Sport and good food are also important. There is no beginners league in trading, you only have the Champions League, so be prepared when you enter the pit.

Find your own way, trading is fun and markets are easy to read - after 10.000 hours.

Re: How Important Is Your Color Scheme For Charts-Indicators?

4
society wrote: Sun Nov 05, 2017 4:09 am ...
Basically
Pros want to put on risk
Amateurs want protection from risk
It is our nature to avoid risk. Trading is risk, but not danger, so we must act against our nature. Often you hear risk is the only variable you can handle. Trade patterns and setups with a high risk of win and keep the risk to loose low (risk/reward). This is the psychological difference between a beginner and a pro. Pros don't like to loose either, but must be good looser to be winners in the long run.

Re: How Important Is Your Color Scheme For Charts-Indicators?

5
Hmm, it is possible to trade with many indicators (sometimes paintings are not that hard to trade, ha ha), provided they have synergy, and that you know exactly what each indicator does in different circumstances. I also recommend everyone to make your own system, spend hours and hours adapting them for your type of trading style. If your system is ready, scroll back charts with your system on it, watch how it reacts to the price, if you are not satisfied change it until you are fully happy with it. Then do a lot of demo trading, doing that will result in some minor system changes, but nevertheless do not change your system, stick to it. Only if you get good results in demo, you can trade live.
Of course it is not easy to make up a system for a beginner, there are thousands of indicators ....




Who is online

Users browsing this forum: No registered users and 25 guests