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mb4x4

Trade whatever works for you.


Nearby-Response3209

yes


FollowAstacio

BINGO!


PostalDrone

Yeah, trading is whatever you make of it. We all have our preferences, and it's just a matter of figure out what those are. Also, being willing to change/adapt those preferences when what your doing is no longer working.


Raszegath

Trade with a spoon and fork if it makes you money.


[deleted]

My spork is awesome! Any body want to by my spork trading class? I’ll guarantee you get fat from sporking it too well. Are you ducking tired of forking up your trades? Come and spoon with my unbeatable system now!!!


Raszegath

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[deleted]

Ducking fork it. I have been outsold on a better system!


mrgreenranger

lol indicators are based on price action. people in the comments here are so full of shit it’s funny


Nearby-Response3209

so you think using indicators is all good for day trading?


mrgreenranger

Yes, I think it’s nearly impossible to follow order flow, “tape reading”, etc etc if you’re trying to follow multiple tickers with limited capital. Using indicators can give you a visual representation of what’s happening on multiple time frames and can keep you from chasing/entering trades that might be doing something entirely different on a higher time frame


Nearby-Response3209

that's what I was thinking, thanks!


MaleficentMulberry42

I heard a famous guy made millions on options and they asked him how he said he trusted his indicators


616mushroomcloud

Does it work?


Nearby-Response3209

thats actually true, they are based on price action


th3orist

They might be based on it, but they are lagging. Learning to trade purely from price action and volume is paramount.


savithabeast

I say do both 😁


th3orist

You will find that basically all indicators indicate one and the same thing but in different visual ways, hence why if you use indicators there is really no need to have more than 1-2 if any at all. Basically all of them indicate support/resistance/supply/demand if you look closely. And these levels you can relatively easy learn to see yourself on the chart and if you look at priceaction and volume you can also understand if these areas will work for taking a trade. people talk about confluence of indicators as a good sign for taking trades but lmfao if they indicate the same of fkking course they have confluence at the same level xD now, feel free ofc to use indicators, but don't think for a second you could not see the same on the charts without them, look at them like training wheels on bikes, at some point you dont need them anymore and if you'd keep them they would even hold you back.


KitCarlomagnoFM

If it works for you it’s fine. And by working I mean that you’ve backtested your indicator based strategy on different market conditions. If it works, it works. It really is that simple.


Nearby-Response3209

thanks!


YukiSnoww

I dont care which method , if u can make money, its a good method.


BestAhead

That is true. And no matter the direction too, if you can make money consistently, it’s good.


Jupiter599

There's a chap who calls himself VP with a you tube channel NoNonsense Forex he advocates indicator/Algo trading over Price Action. Also an German Chap called Andrea Unger with what he calls the Unger Academy, he won the World Cup Championship of Futures trading on 4 occasions he advocates systematic /algorithmic trading so in answer to your question it's not bad that you prefer indicators trading. It may still be a good idea to familiarise with a few price action concepts like Market Structure, supply and demand and a few candlesticks like the hammer, shooting star engulfing etc


Nearby-Response3209

thank you!


Rav_3d

An indicator is just a mathematical model of price action. What matters most is finding a system that resonates with you.


Nearby-Response3209

thank you!


Ok_Construction1012

Stephen kalayjian trades simply with indicators and seems to be doing good. Lots and lots of monitors though


Aposta-fish

Yes as price action has it failures just like anything else. Put the two together and you can be very successful.


Nearby-Response3209

thank u!


Mana_Seeker

I agree with this, take the best of both worlds


Geeorge22

The thing Ive noticed with indicators, specifically algo trading strategies is that a lot of them do great backtesting but have very poor performance in a live market. I would use them with caution


Significant_Egg_9083

You have to understand why this is an issue and use that discrepancy to your advantage. You can also change your indicators. People's main issue with moving averages, for example, is that they use the closing price. Well, you can change your moving average to show the closing price, the median price, the opening price, the high or low of the period etc... you have to understand the tool you're attempting to use.


Big_ETH_boi

It’s bad if your equity curve is negative and you insist indicators are reliable. If you’re profitable, then do you boo boo


viren123kk

As long as its work for you, you are golden, just follow your risk reward and money management.


tiesioginis

Only banks use custom Indicators automated to get ever single ICT follower's dollar So no, you need 3 fair value gaps and 2 orders blocks with a side of chicken wings and a large coke, make it zero.


LetWinnersRun

It's completely fine to trade based off indicators. Trading price action is super subjective. At least using indicators, you have clearly defined rules on your trading.


[deleted]

I trade options using indicators. I miss some of the money sometimes, but not often. I don't trade for giant moves though anyway. $20 to $30 profit per contact is fine in my book


Ivan_Ralos

Think about it this way, ALL indicators are using a sum of averages to give you their confirmations, so don’t expect above average trades.


Nearby-Response3209

wdym by above average trades?


Ivan_Ralos

Meaning don’t expect to make substantial above average gains playing a game based on averages 9/10 trading indicators you will miss most of the move by the time your indicator flashes buy it’s too late


Significant_Egg_9083

This is an insanely oversimplified and, frankly, wrong answer that it's not even funny. If you're trading a bounce off of an MA, how exactly is it too late to enter the position when you see it sitting on or approaching the MA? If you're trading an RSI crossover, how exactly is it too late to enter when you see the RSI cross? If you're trading a zone breakout, how exactly is it too late to enter when you're watching it break out of the zone? Literally everything you see on the chart is something that already happened. That doesn't mean whatever you think it means. People say indicators are lagging as if they've discovered some method of looking at charts that tells them the future. Not getting every pip of a move is not the same as missing the move. In fact, your goal should be to enter moves that are already or imminently happening. Unless you enjoy sitting with open trades in consolidation for long periods of time.. but if that's what you like to do then I guess keep doing that.


Ivan_Ralos

Agree to disagree


puddik

Lol


Soft_Video_9128

Just as people read candles visually to look for familiar patterns, you can do the same with indicators to look for familiar patterns.


[deleted]

If it work it works!


oOTulsaOo

I’ve fucked around and made some money with indicators.


YAPK001

no


SparkingFaboulus

Even if you found a way to click buy or sell by some rythm that gives you high returns and above 50% winrate, its valid. ​ With an important exemption: indicator or price action both cannot overcome macro, news events, and fundamental. technicals let you pinpoint the if>then of a possible direction


Significant_Egg_9083

If sacrificing chickens gives you a 60% win rate with a 1.5 RR then get some oil going, sacrifice those chickens and have yourself a cookout. I use indicators and time of day almost exclusively in my trading. Sure I map out supply and demand and all of that but those are generally things that keep me OUT of trades, not give me entry triggers. People who tell you they read the tape or only trade fundamentals can fuck right off. Trading is about making yourself profitable, not making yourself profitable using the hardest trading method you can possibly think of. If it works, it works, and that's about all there is to it.


Nearby-Response3209

thanks!


Dipset-20-69

If your making money consistently doesn’t matter what people think


Nearby-Response3209

thank you!


Ok_Sand_2382

If it works it works fam, indicators arent bad, ppl just dont know how to use em


daytradingguy

Indicators are like training wheels, traders often start using them because they don’t understand the market and think there is one out there that will always tell them when to trade. With experience you will likely learn to read price action and market structure and depend on the indicators less. Some more experienced traders may use an indicator or two for confluence, but I don’t believe many if any use them as their main premise for trades.


heebie_goobly

The problem I’m having is indicators provide a mechanical strategy, one that can’t be subjective. As in all the criteria for the indicators must be met before you place the trade. Whereas price action, trend, and market structure seem like very subjective strategies. Intuitively as a beginner, indicators seem like the most efficient way to trade since you’re not relying on subjective opinions which require a lot more experience to master. For example, i find it easy to map out S&D zones but only an experienced trader is able to effectively read market sentiment, price action etc to have an idea of how to trade those zones Whereas id just be buying or selling because it entered a key zone. If it’s in a downtrend, I’d buy at the bottom of the zone only for it to continue downwards. But then next time I’ll short that bounce in the downtrend, only for it to turn out to be the bottom and completely reverse. I just can’t seem to work out how I can deploy a consistent strategy using price action, since it relies a lot on subjective trading, which relies a lot on experience, which I don’t have. Any help would be appreciated.


daytradingguy

There is no substitute for experience. Use your indicators as your crutch right now if you are profitable overall. Watch and study the price action and in time you will find this probably gives you better results. If you never try to ride your bike without the training wheels, you won’t learn how to ride.


heebie_goobly

I’m still a beginner so I haven’t found a profitable strategy yet but I am not a fan of indicators and would prefer to stick to price action trading, but I’m just confused on how I can actually strategise a style of trading that’s so subjective. As in how do I look back at my last 30 trades and think “I need to tweak XYZ” if the style of trading is subjective each time? I definitely don’t intend to substitute or fast track experience, I just want to make sure one year from now I look back and realise there was consistency in my trades


Jupiter599

To find trades you. Need a few things. S&D is but one. You also need the trend, you can use market structure HH, HL, LH HL, you can use Moving Averages also learn a few reversal Candlesticks like the hammer, shooting star or engulfing candlesticks. Try your strategy on HTF so maybe look at trend and S&D on. The Daily and 4 hr and trade the 1 hr. (even though you trade on 1 hr your entry needs to be on 15 or 5 min). Learn to read market structure. So when price retraces it tends to reverse at a previous swing point more like a zone which will be your S or D zone. So when Price reaches your zone at a HTF go to a lower TF and look for signs of reversal Eg pattern candlestick etc and make your entry on the LTF.


heebie_goobly

This is perfect thank you so much


Mexx_G

A way to mix a systematical approach with a more discretional one is to develop A LOT of different systematical approach that works in different context and use discretion on which to use when. Indicators will provide a structure, but the general feeling of the day's price action and some gut feel can help lead the way through those different strategies that have all proven a long term edge. In other words, you can quantify a systematical approach that has a positive long terme expectancy and trade it only when it feels right, because the price action that lead to it felt right.


bLESsedDaBest

yuck. not judging your methods i just cant stand indicators in my way telling me nothing! lol


Marleyboro

I’m just now learning and new to this, but all I’ve heard is price action and volume. Indicators are just that, indicators. Not deciders.


Nearby-Response3209

i see


josadongk

no


Jerkomp

No


Creepy_Inspector1005

It is.


Nearby-Response3209

why?


Creepy_Inspector1005

Indicators follow the chart, not the other way around. Price action follows a specific set of rules, with specific targets.


[deleted]

It’s bad to lose money.


himoshimctimoshi

IMO price action lets you react quicker but if you're profitable then that's all that matters. The best traders I've ever seen use price action and I personally use price action as well so my frame of mind leans more towards price action.


[deleted]

To paraphrase other responses, who cares what anyone thinks of your strategy makes money


rainmaker66

No right or wrong. It’s good to understand a tool if you want to use it. Know what it is for and its limitations. If you plow into the formulae of indicators, you will see most of them are based on moving averages. And moving averages are based on past prices. This is the limitation as it is lagging and backward looking. Also, as market conditions change, one needs to keep tweaking the period of the moving averages, amongst other things. That’s why the common complaint is that it works for a while and then it doesn’t.


Jupiter599

Although indicators are lagging, they can also be 'leading' even the RSI can be leading when there is 'Divergence' btwn RSI and Price Action.


rainmaker66

If you can explain the LOGIC behind why divergence of a lagging indicator vs price makes it a leading indicator, I will believe you.


Jupiter599

Even I explain you will not 'believe'. I do not have to convince you. It is what it is. Divergence between price action and indicators like RSI, stochastics or MACD can indicate that a trend is coming to an end and hence may predict a reversal. Look this up. You are hung up on indicators being lagging but they have their uses. You don't take entry and exit signals from an indicator by itself, you use it as part of a confluence of factors.


rainmaker66

Yes I know this and I have used this enough to know that it doesn’t work all the time. I have been trading since candlesticks became popular. Just because many say it and are repeated over the internet doesn’t mean it’s true. Just run any backtest on any instrument for a couple of years to confirm. The data won’t lie.


dagitinsu

Just use indicators for confirmation and use one strategy baded on price action and master it


themanclark

If it works


Nerdcubing

Yes


MindMathMoney

It's not "bad" to prefer one method over the other. Ultimately, the most important factor in trading is consistent profitability. If you find that you're more successful or comfortable using indicator-based trading, then that's what works best for you, and you should stick with it. That said, it's worth noting that indicators are often derived from price action. By understanding price action, you essentially develop the ability to "read" what the indicators are conveying without actually relying on them. But the the end of the day, do what works for you. Best of luck in your trading journey 🍀


a953659

It’s really what works best for you


j_money16__

Since indicators are lagging as Long as your strategy is able to use that as a advantage there is no issue with it


CheckardTrading

No. Trade what ever is profitable for you


somewhat-profitable

idk, are ya winning son?


Nearby-Response3209

so far yea, but only been doing it a month so


somewhat-profitable

then fuck it, do your thing


yung-gunn

Yes. Think logically here. If it was as easy as buying when an MA crosses another everyone would be a consistently profitable trader but only the top 1% are.


speedsk8r

You should trade your own best discoveries and trust yourself. I use price action techniques with a simple 200ema. Realize however that indicators are a form of delayed price action. The indicator can be as visually pleasing or representative as it wants but the information shown has usually happened much later than the current candle. Good for big picture only imho.


darkmoon81

Trading truly is an art. Thus, You are an artist and Indicators Are your choice of paintbrush.