[Dinerotrader]

Originally Posted by brownsfan019 »

I think you'll find dinero that the more confluence of reliable signals you get at once, the stronger the trade. The key finding the reliable ones.

Reliable signals....
Since I have never looked at indicators, all I have in my arsenal to consider is S/R levels, trendlines, candles, and price action, if you can call that a signal. Maybe I should look into moving averages a little since so many traders are using them to decide on trades also.

[brownsfan019]

Originally Posted by Dinerotrader »

Reliable signals....
Since I have never looked at indicators, all I have in my arsenal to consider is S/R levels, trendlines, candles, and price action, if you can call that a signal. Maybe I should look into moving averages a little since so many traders are using them to decide on trades also.

All you have is:

• S/R
• Trendlines
• Candles
• And price

You poor thing.

If you want to open that indicator pandora's box, do it already. In another thread I warned you what may happen but if that itch won't go away, then itch it. Just don't say you weren't forewarned.

And if you must do it, stick with the simple stuff that you can understand how it's even constructed. Moving averages are easy to grasp, volatility ranges (bollingers, keltners) or oscillators that show overbought/oversold areas.

Just be prepared to be massively let down. You will find what you think is the grail b/c one day bollingers nailed every single move and the next you'll get slaughtered.

I have one suggestion if you do this - post it here so others can learn from it. Seriously. Start your own 'indicator experimentation' thread and run w/ it.

[Dinerotrader]

Originally Posted by brownsfan019 »

All you have is:

• S/R
• Trendlines
• Candles
• And price

You poor thing.

If you want to open that indicator pandora's box, do it already. In another thread I warned you what may happen but if that itch won't go away, then itch it. Just don't say you weren't forewarned.

And if you must do it, stick with the simple stuff that you can understand how it's even constructed. Moving averages are easy to grasp, volatility ranges (bollingers, keltners) or oscillators that show overbought/oversold areas.

Just be prepared to be massively let down. You will find what you think is the grail b/c one day bollingers nailed every single move and the next you'll get slaughtered.

I have one suggestion if you do this - post it here so others can learn from it. Seriously. Start your own 'indicator experimentation' thread and run w/ it.

Yea, I probably shouldn't have posted that last post. It came across the wrong way. I won't be using indicators because I do trust you and others that have helped me so much thus far.

I might use an indicator if it clearly showed me some of the things I look for in price movement but I have so much more research and trade analysis to do before I can start that search.

I'll try to keep posting some charts that look like reasonable setups based on the signals I noted above.

[thalestrader]

Originally Posted by brownsfan019 »

All you have is:

• S/R
• Trendlines
• Candles
• And price

You poor thing.

I

Right, Brownie. How could anyone possibly think they could trade with such a pathetically outfitted tool box?

I'm pulling for you, Dinero, but I'm not a warm weather person. So if you get yourself hooked on indicator crack, someone else will have to fly out there for the intervention.

Best for you never to try the stuff. Trust me. It took me years to kick the habit. You are not missing anything. Trust me.

Best Wishes,

Thales

[brownsfan019]

Originally Posted by thalestrader »

Best for you never to try the stuff. Trust me. It took me years to kick the habit. You are not missing anything. Trust me.

Thales and I are speaking from experience here dinero. Since we like you, we are only trying to save you headaches and heartbreaks.

[Dinerotrader]

Originally Posted by thalestrader »

Right, Brownie. How could anyone possibly think they could trade with such a pathetically outfitted tool box?

I'm pulling for you, Dinero, but I'm not a warm weather person. So if you get yourself hooked on indicator crack, someone else will have to fly out there for the intervention.

Best for you never to try the stuff. Trust me. It took me years to kick the habit. You are not missing anything. Trust me.

LOL. I bet you would really like the warm weather.
No intervention for me. I won't be going through the indicators.

I do trust you guys. That is why I hang around your threads and post my novice ideas so I can get set straight when I stray from the path to success.

[brownsfan019]

Getting this thread back on track - what's so wrong with having a trendline and S/R level tested simultaneously and then trade from it? Your chart looked pretty good to me and was fairly easy to see how you did it.

Here's part of the issues people have with S/R and/or trendlines - you can't just plug it into tradestation and produce a p/l report. You actually have to see it and draw it yourself. It's an art, not a science.

So maybe you are onto something Dinero - confluence of the 'horizontal' S/R level + an obvious trendline. I say obvious b/c I've seen people using trendlines that have lines all over the place. Try to keep it clean.

[DugDug]

Hi,
while I dont want to knock indicators, if you are trying to avoid them I always use this thought when I need to remind myself. (As every now and again the "search" arises its head for me)
It may be a little silly but it works for me.
"imagine driving along on a motorbike and following a car that has its indicator on. It does not mean its going to turn. But its very dangerous to overtake just in case it does."
I have attached a corn trade (i know its not an equity - but i have not looked at any the last week) but the point is regards trend lines and something that works for me.
with a few simple guidelines
1 - dont get too fancy on where you draw them, just get the general direction, you will always find plenty of options.
2 - combine them with clear high low breaks. you want to see higher highs, higher lows (or opposite for downtrends)
3 - i always prefer to see a pullback toward the trendline. gives me patience to wait.
4 - you can either get on short term and trade the breaks, the pullback or wait for the longer term trends to change, and just go with them.
5 - they can be used on any time frame. any instrument.

It combines the idea of S-R but using more the donchian type channels. (I dont see these as an indicator)
The one issue with trend lines that might be raised is the fact that they are very subjective. hence by combining them as a guide with something else always helps.