Never Lose Again!! TheRumpledOne

[TheRumpledOne]

We have been duped into playing this game of chance by those who say it's not a game of chance.

[TheRumpledOne]

MT4 MOTHERLODE JUNE 2009 available now!

[atto]

From your previous post, I thought you came to the conclusion that indicators aren't needed, that one could simply follow price. Did this change, or do you just enjoy making new indicators?

[pa18]

Hello TRO!

Nice that you found another site to place your gold!

Can you explain the CDRW multimeter in post 294 please?

Everytime I see CDRW, I keep thinking CD read write

Also on a separate note, can someone quickly explain the term/word 'repainting' (not on the wall kind of painting as you know) please, I've been searching for a few hours but I haven't anything concrete.

[thalestrader]

Originally Posted by pa18 Also on a separate note, can someone quickly explain the term/word 'repainting' (not on the wall kind of painting as you know) please, I've been searching for a few hours but I haven't anything concrete.

I may be wrong, but I believe that the term "repainting" in the context of trading refers to those instances in which an indicator which prints or "paints" trading signals on a chart in real time will move the signal to subsequent paint bars, in effect, repainting itself on the price chart.

Problems with interpreting such signals sometimes occur when, for example, a signal to go long is given and a position is entered in accordance with that signal. Price then continues to decline, and another long signal is given on ensuing price bars.

Best Wishes,

Thales

[pa18]

Originally Posted by thalestrader I may be wrong, but I believe that the term "repainting" in the context of trading refers to those instances in which an indicator which prints or "paints" trading signals on a chart in real time will move the signal to subsequent paint bars, in effect, repainting itself on the price chart. Problems with interpreting such signals sometimes occur when, for example, a signal to go long is given and a position is entered in accordance with that signal. Price then continues to decline, and another long signal is given on ensuing price bars. Best Wishes, Thales

Thank you Thales. every time someone says this indicator repaints, it drives me nuts when I couldn't work it out.

Why would an indicator repaint, couldn't the signal be a new one?

[thalestrader]

Originally Posted by pa18 Why would an indicator repaint, couldn't the signal be a new one?

I'll take a stab at an answer here, though I am not the most qualified to do so.


Suppose that an expert advisor, .efs, .eld, etc. were programmed to signal a long trade whenever price retraced a fib% after making a new high. On one bar, price retraces 23.6% of the move, which is the minimum amout required to issue a signal. A green up arrow is printed beneath that price bar by the program to signal a long trade set up. Then, on the next bar, rather than price resuming the rally, it continues to decline, and reaches a 38% retrace of the move. This is within the parameters of the program to signal a long entry. The green arrow that had been printed under the prior bar now moves, i.e. repaints to the subsequent bar. Is this a new signal? Or is it the same signal just from a new level? Does it matter? I don't know how to answer that, as I do not use any such programs. To continue with the example, price continues to fall, and it hits the 62% retracement on the next bar, and the signal again repaints from the prior bar to the present bar. On the next bar, price retraces 86%, the maximum retrace allowed by the program to still issue a buy signal. The program repaints the buy signal on that bar. Price continues to fall, retraces 110% of the move, thus invalidating all the signals that had previously been painted on the chart. Often, there is no sign left on the chart by the program that it had issued what amounts to four losing long trade signals in a row. Sure makes back-testing tricky for the user, but it probably makes it much easier for the unscupulous software seller or systems vendor to cherry pick examples for their sales literature and web sites.

None of this is meant as a criticism of The Rumpled One. From what I have seen of his work, he has some fine indicators for those inclined to use them.

Best Wishes,

Thales

[Bear Mtn.]

Originally Posted by atto From your previous post, I thought you came to the conclusion that indicators aren't needed, that one could simply follow price. Did this change, or do you just enjoy making new indicators?

TRO - I've been following this thread with interest but I'm confused about this point, like Atto. Seems to me like you started the thread saying only look at price, no indicators required - but since then you post about new indicators and new versions of indicators 75% of the time and the other 25% you spend reminding us that price is ALL you need.....?

Thanks

BM

[michaltrade]

TRO is a "genius" in code writting. He has written "thousand of indicators" and most of them are free, "a few good indicators" he uses them as "carrot" for newbies. They like indicators so he get "donation" money from them. He also said "do NOT use indicators". You either hate him or love him.

[Bear Mtn.]

Originally Posted by michaltrade TRO is a "genius" in code writing. He has written "thousand of indicators" and most of them are free, "a few good indicators" he uses them as "carrot" for newbies. They like indicators so he get "donation" money from them. He also said "do NOT use indicators". You either hate him or love him.

Sorry, but that doesn't really make any sense to me. I'm not saying TRO is / is not a good coder (I have no coding abilities, so can't comment) or that he is / is not a good and successful trader (this thread gives me no clue - he just keeps saying "it's easy"). But, my point is this - if he can trade successfully without ANY INDICATORS... why is he churning out 'thousands' of unnecessary indicators to try and scrape donation money from newbies?