Let's talk about leading (not lagging) indicators

[patriotstef]

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!!!

Ok, NOW we're getting somewhere... I can fully believe all of this.
What does one do in this situation? Pending orders? How exactly do we go about preventing the obvious losses that would result from those people's actions?

[TheRumpledOne]

There is NO LEADING INDICATOR.

If there was, then the market would cease to exist.

[patriotstef]

There is NO LEADING INDICATOR.

If there was, then the market would cease to exist.

Hmm... that wasn't the way I heard it, but I suppose that means this thread/topic is prepared to be put on the "closed" list.

Well I don't know what kind of reponse I'll get for this, but...I really don't see how anyone can reliably make money on this market for any prolonged period of time without SOME indication of what will most likely take place in the upcoming future. And no, I no longer trust indicators regardless of how many people say, "this works!" Yes, AT PRESENT it might work, but when the markets start getting different later on in the time before us, the indicators may no longer be of any use and then new indicators now have to be made to keep up with what's happening.

Since the big shots of capitalism are running the markets (and the massive amounts of capital they put on the currency pair charts becomes the primary force that makes the markets move), than an example of a leading indicator would be some kind of a report indicating what these guys are getting ready to do the next day. I'm sure such information is available to a select few in this world.

Be this the case, then you would be able to reliably have your money on FOREX right where it needs to be and when upon utilizing such data. I, of course, know of no such location on the net or anywhere else where this information is available... but you get the idea.

[frang0nve]

Hi Patriotstef.
VSA tries to untangle the effect of the Big Boys actions in the market. Search VSA in these forums, and you'll find quite a lot of interesting (not lagging) stuff.

Cheers

Francisco

[TheRumpledOne]

No reason to close this thread.

" but...I really don't see how anyone can reliably make money on this market for any prolonged period of time without SOME indication of what will most likely take place in the upcoming future."

The same way some people make money at Vegas... THEY KNOW WHEN TO QUIT.

[flinux]

I totally agree.
It's quite simple to enter right in the market. It's more difficult to know when you MUST QUIT.

[PTG]

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

Put on an H4 chart.
Look at the extremes, highs and lows, where the semaphores appear

What do you see ? Bodies with the same open/close.. or body to body if you will.

Let this sink in for a moment or two or however long it takes for you to SEE what this means

Then go back and re-read Dragon's post.

Repeat until you SEE.

Call it what you want - leading indicator, pedictive pattern, money machine who cares ?

Words are not of importance. Draining BANKS is !!

THIS is SO bleedin' obvious - another ELEPHANT in the ROOM..

[PTG]

I totally agree.
It's quite simple to enter right in the market. It's more difficult to know when you MUST QUIT.

Quit when you are in such a position that others take your money away. Don't let yourself be zeroed out. That's all there is to, nothing more, nothing less. Easy stuff, really. Read the Never Lose Again thread, start with the last couple of weeks.

You need to develop a sense for the overall direction of the market. Go with the flow from the moment the market turns. Stop when it turns on you or when your predefined s/l is hit. Make sure your profit is bigger than your s/l over and over again. See your account grow and be happy !

[monolisa]

I think the key issue is that people don't even know why market turns. The big boys know where your stops are and would do whatever to shake you out. Round/even even number resistance/support exists because they are where people put their stops!! (You can use it to your advantage)

Another thing I have learnt is that common perception is not always the truth, and might hurt your trading. Learn to think independently and objectively. Think like the big boys and outside the "square".

I do agree that money and risk management are the paramount factors in trading...

Lis

[marypipins]

I hope this thread keeps going and folks don't lose interest. Is anyone trading price action only? By that I mean no indicators except a s/r line and a trend line but thats about it. I think its a good way to train yourself to see price. It takes a bit to develop the "eye" to see but imho its a good foundation to lay in order to see and understand the market.
Lisa