2009.03.18 INSTRUMENTS ONLY TRADING
Posted: Wed Mar 18, 2009 1:19 pm
2009.03.18 INSTRUMENTS ONLY TRADING
Why do we look at charts?
Usually, it is to find something like support, resistance, trend, higher/lower highs/lows, etc. And we look to find opportunities to enter and exit with a profit.
We have been told to "plan the trade, trade the plan". We have been told to act and not think when we see the trigger.
So why are we looking at charts when we can program the computer to tell us when to trade? We know trading programs exist but deep down inside we don't trust those programs to trade our money.
But having the computer alert us when the trigger is there is acceptable. That why we use indicators with both audio and visual alerts. But then, why are we still looking at charts? Is it because we don't want to be reduced to being a "trained monkey" who obeys the computer? But, isn't that what rule based trading is all about - obeying the rules? Perhaps, our ego wants to retain some dignity.
TRO2009_MP_3LZZ and TRO2009_MP_DFSR are a couple of multi pair indicators that can use to trade the method I posted yesterday WITHOUT looking at the charts. TRO2009_MP_3LZZ show the status of the 3 Level ZZ Semafor. TRO2009_MP_DFSR shows the Dynamic Fibs Support/Resistance level and status.
TRO2009_MP_3LZZ and TRO2009_MP_DFSR are donational indicators.
For the record, yes, I still look at charts...LOL!
Why do we look at charts?
Usually, it is to find something like support, resistance, trend, higher/lower highs/lows, etc. And we look to find opportunities to enter and exit with a profit.
We have been told to "plan the trade, trade the plan". We have been told to act and not think when we see the trigger.
So why are we looking at charts when we can program the computer to tell us when to trade? We know trading programs exist but deep down inside we don't trust those programs to trade our money.
But having the computer alert us when the trigger is there is acceptable. That why we use indicators with both audio and visual alerts. But then, why are we still looking at charts? Is it because we don't want to be reduced to being a "trained monkey" who obeys the computer? But, isn't that what rule based trading is all about - obeying the rules? Perhaps, our ego wants to retain some dignity.
TRO2009_MP_3LZZ and TRO2009_MP_DFSR are a couple of multi pair indicators that can use to trade the method I posted yesterday WITHOUT looking at the charts. TRO2009_MP_3LZZ show the status of the 3 Level ZZ Semafor. TRO2009_MP_DFSR shows the Dynamic Fibs Support/Resistance level and status.
TRO2009_MP_3LZZ and TRO2009_MP_DFSR are donational indicators.
For the record, yes, I still look at charts...LOL!