Trading without indicators
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Unless speed of move can be programmed?
Of course it can !
My Fx systems are full of that (but they don’t win too much – haha).Edit : I don’t work with indicators …
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Start with very small TimeFrames – e.g. 1 second. Now you know the “speed per second”. You can also know the force over the longer term. And whether it accelerates. Or decelerates.
One thing is super crucial : this does not work out really for IG because they inject up-downs within a normal flow (read : faked). Even calculating the average over several bars is a pain.
Not so with IB …1 user thanked author for this post.
Just a few pointers in the right direction
When a magician puts a performance on he has to create as many distractions as possible to take the viewers minds in a direction away from what he’s actually doing and towards ‘anything’ else. The distractions I’m talking about guys is of course Indicators, as the name suggests they are indications of what might or might not happen and they may be right or wrong. Here is the fact though we forgot about, what are we being distracted from? obviously the price, so why distract us from the price? that’s the question.
So were to stop looking at price and focus on something else while price does its thing just ask yourself why? that’s hopefully that part sorted.
Next, I did an extensive study on candlesticks reading with Steve Nison books years ago, I know, a bit drab to do but I did it anyway. So If I’m focusing on price in the form of candlesticks and looking for things he speaks about in his courses on my 5 minute chart and I take all the (distractions) of the chart and look at what’s actually happening with price then I start to see things other trades using indicators might just be missing.
I know this isn’t going to make me my millions I know I have to add something else to this equation, what is it?
Is it how price moves? it it why it moves? is it when it moves? Is it a combination of these?
We have to look at all options and ask all the questions to understand what’s happening, why its happening and when its happening.
Its no good looking at the chart and saying hey I see a bullish engulfing candle, I’m going to buy now that means the move is going to continue up, or bearish engulfing candle it must continue down, got news for you, no it doesn’t mean anything! Its another distraction, sorry guys, The market isn’t that easy! and because it works ‘sometimes’ doesn’t mean its going to work all the time.
So were stuck, what the hell do we do to get something consistent and reliable enough that we can trust putting our hard earned money on it?
Baffling isn’t it? Well for me it used to be and for some of you I know it still is. have you ever actually stopped to really think of the missing link? I mean really stopped to think, Most folk give it a few moments now and then but I’m talking about 1 hour or so focusing? probably not I’d imagine because there are so many other distractions going on around us that it seems an impossible task.
My job as a trader is to stop and notice what’s actually happening and to put aside all the distractions that I can find and focus on why, how and when, sounds easy doesn’t it?
My job as a trader also is to anticipate what’s going to happen and be ready for it, its a race, get in first before other traders and get out again before they make there move, but how is that possible? Am I psychic? of course not! might seem that way to some but I assure you I’m not, am I lucky? I like to think I am but that’s not the trick.
So, how do I for example get on that bullish engulfing candle while everyone else waits for it to form?
The only rational explanation is that instead of looking for the candle is to look at previous examples on charts to see what usually happens before the candle happens! common sense prevails when you rid yourself of these distractions, doesn’t it!
Your job as a trader is to anticipate a move, rid yourself of distractions, look at history on your chart and get on and off quicker than jack flash!
Hope most of you take the sunglasses off and realise all the crap on your screen is to deceive you and make you hesitate while people like myself make some pips, sooner you realise it the better.
I know a few people might be pissed at me for saying the above but its the reality of the situation and it makes sense and its working for me so it could work for you.
Just a few home truths
Throughout this topic, you mentioned a few things which for me are all quite true as well (but I never really responded, except for a longer post in the beginning, which I scratched (but possibly saved)).
Translated by me now : go with the flow.
Some guy did not understand this (he kind of got angry), but I sure do, as it is what I am doing too (besides not using indicators at all).I mentioned adrenaline, and I need that. Without that, no “persistent” trading.
Only in rare occasions I scalp. I must have nothing else to do (say I’m bored) and the situation must be such that it allows for scalping. The past months sure are (sideways stuff).
Having said that, I still do numerous trades on a day. Can easily be 50. But, no scalping. This is what happens in reality :
Like now, I may have a couple of futures open. When I am eager, I actively get them (Long or Short), but this is not for these times (sideways stuff again). But in better times (by now more than a year ago) :
Wait until the market proves you wrong. You, shug said that too. Most of the days this happens. So I wait and wait and wait, until I am so much negative that some action has to be undertaken. Btw, exactly this causes my win rate to be around 50% (can’t look because with 20K+ trades my statistics fail long gone).
But now adrenaline is boiling …Maybe the days that I lost net, can be counted on one hand. I always and ever manage to turn around the negative to positive, and looking at the “Gain today” I have as much pleasure in turning the deep red into green again. Did that happen ? then I’m done.
Once I do this (because have to – don’t want to lose) it is literally go with the flow. You mere know what won’t happen than you know what will happen. This is important because knowing what won’t happen is important for not losing trades (I know, I am vague).
This is not my work – only a great hobby (only surpassed by Autotrading, which this story is not about).
Usually I start counteracting around 5 pm (Amsterdam). This often is the time that USA is open long enough that I definitely see no waiting any longer for the market agreeing with me. Notice that my day starts at 5 am or so, and the settings for the day are done then (ETH). It is now 12 hours later and enough is enough.
Usually somewhere close to 7 pm I have arranged for everything to agree with the market again, which also (in normal days like 2 years ago) is (USA) consolidation time. This is sitting and waiting it out, until the breakout definitely goes my direction and I am done for the day. The next era of that day is cooking some nice dinner and watching the phone(s !) in the kitchen and screens from a distance. Growgrowgrow !
Ha ! green !!When this 7pm is there and the breakout in the right direction, I envision a good old Wallstreet floor trader. Completely dead on one hand, fully satisfied on the other. Almost really out of breath. Not being satisfied that I won a lot, but being satisfied that I could counteract again.
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So yeah, it seems that I can do it too, but I only do it when it feels necessary.
And No, I never considered doing this for making money. That’s what’s Autotrading is (due) for. 🙂1 user thanked author for this post.
May people find this post somewhere else too ? I just posted it but can not be found in this topic.
Call me bonkers if you like but I also have ideas for anti gravity experiments I want to carry out.
Call me triple bonkers, but my ever goal for life has been to create the perpetuum mobile. You can contact me by email to work it out. Hahaha !
It actually is so that two years ago I earned so much money by trading that I could have started a real project with all the machinery and people needed in it.
But I did other things with the $ and lost a lot again too.1 user thanked author for this post.
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