Let's talk about leading (not lagging) indicators

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dragon33
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Postby dragon33 » Fri Jul 10, 2009 4:02 pm

You don't need indicators.
Only horizontal lines are valuable to a trader, the rest depends on priceaction and time. Study time and priceaction and you will see a lot.

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patriotstef
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Postby patriotstef » Fri Jul 10, 2009 5:23 pm

You don't need indicators.
Only horizontal lines are valuable to a trader, the rest depends on priceaction and time. Study time and priceaction and you will see a lot.


Ok then... you have my complete attention.

How exactly does one study "price action" and time... or should I say, what exactly IS price action as opposed to me just watching the chart and seeing bearish and bullish candles forming?

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marypipins
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Postby marypipins » Fri Jul 10, 2009 5:46 pm

Nice to know you too Lisa..

So your study of price action comes how? Have you read something or are you training yourself by experience?
My ex husband use to trade commodities so I got started there.. I have been trading forex for about 1 1/2 years, its a much more volatile market but investment is much much less so I would like to stay with forex. I read your posts and you really seem to know your stuff so I appreciate your input and help that you offer.
Lisa
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Postby nickgurtsu » Sat Jul 11, 2009 1:20 am

if the indicator is based on price or volume or both it's gota be laging

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Postby monolisa » Sat Jul 11, 2009 6:29 am

Hmmm, just wonder if all indicators are based on price and/or volume...

marypipins: Thanks for your kind words. I am not as experienced as you but I have an appetite to learn and understand how market works. Thanks to TRO and MO (MightyOne) I have learnt to SEE price action sans indicators. I am also into statistics and I find it quite useful in my analysis.

I appreciate your input too. Looking forward to some great trading/learning experience.

Lis
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dragon33
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Postby dragon33 » Sat Jul 11, 2009 10:43 am

patriotstef wrote:
You don't need indicators.
Only horizontal lines are valuable to a trader, the rest depends on priceaction and time. Study time and priceaction and you will see a lot.


Ok then... you have my complete attention.

How exactly does one study "price action" and time... or should I say, what exactly IS price action as opposed to me just watching the chart and seeing bearish and bullish candles forming?


Studying price action by observation. If you like to use M5 or M15 charts you need to understand when price is going to move. Everything is fixed by the big boys.
They turn the market everybody jumps up they speed up and then suddenly they stop it and reverse and the big boys are making amazing percentages from all traders that thinking price will comeback to them.
This is a small tip i will give you! Mark the H4 candles at open and close price. Switch back to M15 or M5 whatever you like and if you see H4 bodys to body watch what will happen on the smaller tmfs!!!

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Patch
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Postby Patch » Sat Jul 11, 2009 11:36 am

dragon33

What do you mean by if you see H4 "bodys to body"? What is body to body? Open-Close of 2 candles side by side, like rail road tracks? one up one down? thx, jb
ENOUGH being a Yalie for me Back to the Sea. "What i can lose, i can win" "YES YOU CAN" - dragon33 -"Pick one method and one pair and stick with them until you master it. "The choice is yours - success or failure." TRO

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Postby marypipins » Sat Jul 11, 2009 11:51 am

Hi Dragon33..

Nice to see you back again.. I use to follow your posts over in BP and learned a lot from you, I hope your success is still growing. Your cause for trading was a noble one so i hope that whole situation is doing well..
Lisa

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marypipins
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Postby marypipins » Sat Jul 11, 2009 12:07 pm

Lisa

My experience has amounted to little more than me pulling my hair out and screaming at the screen. IMHO the only nonlagging indicator, if you call it an indicator, is support and resistance. Using that along with following the trend at least gives us a clue as to where price may or maynot go. I use murrey math lines to help visualize s/r. Murrey lines, like an engine not sure how it works but if I turn the key and it starts thats all I care about.
Lisa
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Postby marypipins » Sat Jul 11, 2009 12:29 pm

Patriotstef..

The problem with indicators is we are trusting them and following them blindly.
We need to learn why things are moving the way they are. If you look at any 1 hour candle it doesn't tell much but if you take that same candle and break it down into the 5 min chart you know have 12 snapshots of what that candle did in the last hour. You see the movement much clearer than just looking at a 1 hour. Starting with a 4 hr chart looking for trend..then go backwards to 1 hr. 30 min..etc..we can study what price is doing. it takes work to train yourself to see price action but you will have much more "feel" for it than what any indicator will give you.
"Give and it shall be given unto you"

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