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TopPips

No Indicators - No Worries System

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We all have seen tons of indicator based systems come and go. Anyone who has been around in the forums long enough know this as a fact. I can keep on going, nevertheless my goal here is to show you how you can trade without indicators and be successful which is the bottom-line of course.

 

Let me introduce " No Indicators - No Worries System " aka "Ni-Now" pronounced "nee-noew"

 

  • First thing first, remove all indicators from you charts. I mean ALL indicators, not even moving averages.
  • Second, Open Weekly timeframe and Draw Trendlines
  • Third, Do the same with Daily and 4 hour

( Don't worry if you don't how to draw trendlines, we will discuss that later )

 

What we are looking for is:

  • Where the price currently is?
  • Where it is heading towards?
  • Where will it stop?

 

These three questions is the key to trading successfully. To answer these question you need to follow the three steps I mentioned above. Once you setup the charts accordingly, start looking at the price like you are reading a book. Charts tell a story and as a trader we need to learn to interpret their meaning.

 

You must be thinking it is all words and no action. Bookmark this thread and come back to see the charts that I'll post in real time before the market moves. You will have to see it to believe it.

 

Regards

Victor

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Victor,

You need to make the readers aware that you run a paid live trading room.

Thanks

 

Thanks Jaygo. That's not entirely accurate. Mike and I do plan to open a live trading room in future, but for now there is no such paid service.

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Ok...so lets get started. Below are two charts...first one is EURUSD and second AUDUSD.

 

EURUSD made a drop yesterday after climbing slowly for some time now. What we are looking right now is for the price to touch the bullish trendline support. However before it does that we expect a bounce upward to 1.2900 or 1.3000 depending on the momentum.

 

(TL MODERATOR: Link Removed. Please insert your images on Traders Lab - not an offsite URL)

 

AUDUSD is now being traded in a critical region of 0.9000 to 0.9030 . If AUDUSD is not able to break 0.9030 and breaks below 0.9000, it will find selling pressure targeting 0.8925, 0.8850 followed b 0.8750

 

If price reaches 0.9060 to 0.9100 region and reverses, look to sell targeting 0.9000, 0.8925, 0.8850 followed by 0.8750

 

(TL MODERATOR: Link removed. Please insert your images on Traders Lab - not an offsite URL)

 

 

Let me know what you guys think?

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Both EURUSD and AUD analysis from my last post went exactly as predicted.

 

EURUSD fell +250 Pips from 1.2900 as per my last post. AUD on the other hand reached missed out second target by 5 pips at +150 Pips.

Both these charts were posted in real-time before the move happened.

Looking ahead this week I look to go short around on EURUSD around 1.2850 – 1.2875 level targeting 1.2800, 1.2740 & 1.2600 If price happens to reach

1.2960 – 1.3000, I will look for shorts targeting 1.2900, 1.2800 & 1.2740

 

 

(TL MODERATOR: Link Removed. Please insert your images on Traders Lab - not an offsite URL)

 

Last week's AUD candle engulfed 2 weeks prior candles ( same for EURUSD by the way ) this shows same bearish momentum and I will look to go short on rallies. Looking short at 0.8930, if price keeps going up then Short between 0.8975 to 0.9000 level targeting 0.8900, 0.8855 , 0.8760 followed by 0.8600

 

(TL MODERATOR: Link Removed. Please insert your images on Traders Lab - not an offsite URL)

 

Entries will be based on simple price action and candle patterns.

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Interesting system, it seems similar to price action setup trading but slightly more complicated? I am sure I totally understand your approach but I am very interested in any method that does not use lagging indicators.

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I am always impressed at how sophisticated spammers have become...it is impressive.

 

Second, at this point in my career I have no reason to mince words as regards my professional opinion. So to put it bluntly, actually PRICE ITSELF is a "lagging indicator"....this is especially true in currency markets where you have the influence of participants who can move the market ANYTIME THEY WISH and they aren't doing it to make a profit.

 

Next, it is nice to see at least one person who has an idea of how to play the game. While it is true that professionals prefer entering at wholesale prices (below so-called suppport), the art of the game is how to judge where that is based on an arbitrary distribution (and it sure as hell isn't at traditional support), where your profit targets are, the impact of news and economic reports on the time horizon, and how to properly bet so that you can exploit a significant move (when you are right).

 

On the positive side, once you have the resources to fund a decent exchange traded account, the way to go is to learn how the big players operate and find a niche (a way to take advantage little side edges that are available to smart, observant speculators). Its not impossible to do, but it does require more than just having someone tell you when to buy or sell. I think the bottom line is you have to be your own man (or woman) and you have to put in enough screen and study time to earn it yourself...

 

Good luck

Edited by steve46

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Next, it is nice to see at least one person who has an idea of how to play the game. While it is true that professionals prefer entering at wholesale prices (below so-called support), the art of the game is how to judge where that is based on an arbitrary distribution (and it sure as hell isn't at traditional support), where your profit targets are, the impact of news and economic reports on the time horizon, and how to properly bet so that you can exploit a significant move (when you are right).

 

On the positive side, once you have the resources to fund a decent exchange traded account, the way to go is to learn how the big players operate and find a niche (a way to take advantage little side edges that are available to smart, observant speculators). Its not impossible to do, but it does require more than just having someone tell you when to buy or sell. I think the bottom line is you have to be your own man (or woman) and you have to put in enough screen and study time to earn it yourself.

 

Well Steve, you have me intrigued now

 

As a fuzzy retail trader I am curious about how you know "how to play the game" and how that "game" is different from any other "game" that is going on at the same time that I am playing the retail game!

 

I really understand the difference between wholesale and retail, and that "theirs" is bigger than "mine", and that they can pee higher, but you have only half-stated several things, without elaborating. Your post promised ... but didn't deliver.

 

You mentioned that: ... the art of the game is

 

* how to judge where that (support) is based on an arbitrary distribution

* it sure as hell isn't at traditional support

* where your profit targets are

* the impact of news and economic reports on the time horizon

* and how to properly bet so that you can exploit a significant move

 

On top of that you stated: "the way to go is to learn how the big players operate and find a niche" and It made me realise I have no clue "how the big players operate" since I have never met any.

 

Those I might have heard about (ie through the writings of Jack Schwager or through those "in the know in forums such as this) don't know I exist. If they did, I presume they wouldn't have the time or the inclination to chat with a puny retail trader, and lead them into the innermost and most hallowed secrets of "wholesale trading".

 

So, getting out of the tongue-in-cheek mode now, and getting serious, how does one, in your view, learn how the big players operate, and "find a niche"?

 

This could be the basis of a good discussion.

 

Victor seems to have gone on to brighter and better things since he dumped the "retail" players who built his business for him, on a "free signal" basis.

 

I dumped his service as quickly as he dumped his original supporters.

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