Thread: Indiors?

All of us know..that indiors burnout and are not so helpfull cause they simply tell . .where u happen to be. . .and dn't offer an idea where u are led.
I've heard that many folks don't use indiors. My query is....wat do they do then? Are they viewing fundamentals....price analysis....chart patterns. . .candlestick formations? I attempted using no signs....and the outcome is...I have no clue about what is happening. This mayb because of the fact . .that I will be a newbie....but still. . I see a chart..and I'm blank. I read james chart thread and a couple of other people....they are gold. . .but still I c not get a hang of using them without any signs
like to ask the experienced traders. I know there is a way . . .of not utilizing any signs. . .but still being able to see the marketplace. How do I go about doing it? So I can get into it where should concentrate my energy and thoughts? all inputs are appriciated.

Gabroo

p.s. mayb I'm thinkin too ahead of myself....slap me into reality if I like

The best advice that I received here at the factory is to do what works for you. I got caught up in information overload, which included trying to comprehend signs, and it all boiled down to utilizing aid and resitance. A candle below/above - support/resistance COULD BE your trade. I state COULD BE because that's what trading is all about, knowing when to get in and when to escape. The pros here at the factory are well trained enough to teach us, the wannabees, whatever else it takes to know when to pull on the trigger and how to use signs. So just cool, will all be OK.

Oscillators are great during sideway markets. But it's tough to discover when suddenly trend start. I prefer you to use MACD with ADX. Macd is oscillator and ADX is showing you fad. I attached file. ADX shows that trend started and that is supported by MACD.


I urge not to use just signs.

Jim16's ribbon is fantastic. I heard a great deal of him also (pin bars dbhlc, dblhc)

Constantly examine pivots, fib levels, fashion lines, figure formation (triangles, headshoulders, wimpels, flags). Averages are great also, especially exponential.

However, do not be confused, use simple and efficient method.

Originally Posted by ;

I tried with no indiors....and the outcome is...I have no clue about what is happening. This mayb because of the fact . .that I is a newbie....but still. . I see a chart..and I'm blank.

Attempt to adhere to these learning steps to get an indiorless-approach:

1) Start off using trendlines (enthusiast trendlines are my favorites). Draw them all across those graphs that are blank so as to really have a sense of the direction of the market. The would be the number 1 instrument. Trendlines can touch. DO and be patient look for trending pairs, and just trade from the direction of the trend. There are a number or currencies pairs to track, and there are a few of them trending. No need to mess up with pairs.

Two) Then move on and learn about fibonacci retracements, putting particular atention on the ones that happen at 38%, 50% and 61 percent.

3) Proceed and learn about pivots: pivot-breakouts and specially pivot-bounces.

4) Then find areas where pivots AND fibo retracement levels cluster up together. Those are great places to track for consequently a possible entry and a possible bounce.

5) Finally, learn about the different channels and price pattern breakouts. They are powerful instruments and fairly universal across all markets.


There is absolutely not any need for indiors in my opinion.