Heresy--Trading without indicators

[traderwep]

Hi

I love indicators, especially TROs pretty ones. The problem is that i am not that successful using indicators on 3min equity index futures.

In an effort to break outside the box i signed up for Jays Double Nickel ES school on Paltalk. There is a free two week trial for the room but the training and spreadsheets etc. to learn how to do the trades yourself is $500 for materials and one day live training.

Amazingly it seems to work. I am actually making money with no indicators, although it takes a bit of effort to really understand the nuances of the method. No indicators at all though. I tried adding some but they only made it worse.

just FYI. i have no financial interest in Jays school etc.

wayne

[TheRumpledOne]

Just use horizontal lines and trade with the candles.

Long on green.

Short on red.

Simple!

[traderwep]

i wish i could understand what you are saying as to how simple it is. Whenever i try, such as the middle indicator on 60 min for example, i get killed. the dynamic s/r does not seem to work well on say 3min futures either.

i only trade futures. i think you do not so maybe it works differently on stocks. i would love to find indicators that worked for me.

if there was some specific idea about what horizontal lines for ES or YM 1,3 or 5 min futures i would love to hear it. the devil seems to be in the details

[jhtumblin]

Traderwep, if you are consistently having trouble being on the wrong side of the trade, there are a few things I would personally recommend. Any trading insturment (symbol) has tendencies that will produce certain results a majority of the time. When using the indicators posted here I would imagine you are looking for the wrong thing to occcur.

1) Load up the indicator you want to use and watch the market for a day. FOCUS on how the price acts when it gets near signal points and watch how it makes profit. The reason I say this is that if you are using TRO's indicators, he is a scalper. It's not always possible to see the opportunities which make him money in hindsight, you need to be real-time.

2) You can't be greedy as TRO has said millions of times. It never made sense to me at first (being a swing trader), but if you repeatedly take the small gains, with the high degree of accuracy, it will grow tremendously in no time.

3) Throw out what you know traditionally. Unless your prior method is making money (it isn't or I doubt we'd be here) one doesn't need to even use snippets from it. Thinking too much will cost you money in lost opportunities and losses. It's natural to think trading can't be this simple, it is though, so it really helps to carry that mindset.

These indicators are not the holy grail, but they do make a bunch of money in the meantime, Once you understand them and have PRACTICED using them, you will be making money too.

Now go ye forth unto the world and make money.

[TheRumpledOne]

i wish i could understand what you are saying as to how simple it is. Whenever i try, such as the middle indicator on 60 min for example, i get killed. the dynamic s/r does not seem to work well on say 3min futures either.

i only trade futures. i think you do not so maybe it works differently on stocks. i would love to find indicators that worked for me.

if there was some specific idea about what horizontal lines for ES or YM 1,3 or 5 min futures i would love to hear it. the devil seems to be in the details

Post a screenshot or 2 of where you got "killed" so we can see when/where you entered/exited.