RplusT wrote: Mon Jun 13, 2022 12:33 pm
Oh yes, I don't contest that. A lot of people prefer colour coded trading for the reason to tell them when they should enter. Others are more advanced and know that Indicators are just an indication of a possibility to unfold etc. .... I know that, I have been there.
Got to shed a bit more light on my approach. During my journey of a thousand Indicators I got a call (pretty much out of the blue) from a cousin who happens to be a trader at a major Swiss Bank. He was asking for legal advice and during the conversion I said, I love the challenge of trading. He was laughing and said ".....but as a retail trader with no information available, you are still struggling to make constant profit and get a grip on the instrument you trade". Me: " well, yes, I was about to say so". He: "may I give you an advice as a professional trader. Close all your charts and open a naked one. Then you go to high TFs and draw S/D levels of significance. Scrolling to the left you can easily figure that out. Then draw Trendlines for direction to watch those too and a possible break thereof. Doing so you have established a framework for your Instrument and it shall stay in place forever. You may safely go down to a 1M chart to place a trade, getting a better price with little risk. That's it. Doing so you will achieve one very important thing. You will be trading with us, not against us". I'm glad I did listen and doing so over quite some years, I never looked back.
I love this place here and the activities going on. Thus I thought, I should publish my approach here (it's basic, not rocket science). Some might be willing to listen and give it a try or use it as valuable add on. I maintain, I can trade any chart in this forum profitably. Why? Because I got my framework in place and thus don't have to rely on that "turning blue go long, turning red go short, oversold and overbought and so on...."
Well, got nothing more to add. All the best wishes.......
I would also like to express my point of view on trading.
I'm not a coder, there are a lot of problems with this.
Many ideas have to be solved at the expense of being able to solve themin a roundabout way,
that is, not with the signs that we would like,
and those that are at hand, however, it is possible to use EXE files,
but that also creates a lot of problems.
There is a suitable indicator,
but it is in EXE and it means that it will not be possible to reconfigure it, and there is no suitable replacement.
Special orders are also not an option.
Many say that you can do without indicators altogether,
I don't argue about it.
I'll just tell you why I need an indicator.
I want to spend time looking for it and setting it up so that in the future I don't have to spend it looking for entry and exit.
The indicator gives a signal to enter or exit, and I either accept the signal or ignore it.