Trading Indicators » holy grail

need a opinion on a forex strategy?

admin — Mon, 27 Dec 2010 07:59:37 +0000

i need an opinion on a forex strategy i use. here is what i use my time frame is the daily charts and i only trade the majors i use the following indicators Heiken-Ashi, and a 5 day on the open & 6 day on the close EMA plus a MACD and the ADX indicators on the bottom and i trade the crossovers is there anyone here that trades the forex with a similar setup what im looking for is just some opinions from some more experienced forex traders ive been back testing this for a couple of months and seems to be profitable but maybe i might just be missing something a more knowledgeable forex trader might be able to help me tweak it some more i realize there is no holy grail but any opinions would be greatly appreciated thank you for your time ive traded stocks for 30 years but the forex is a whole new ballgame

Trading indicators are best used along with money management and good risk control, using trading indicators alone will not enable you to be a successful trader, even if you learn everything about forex trading indicators the market is just too random and unless risk is controlled, over time your account will slowly get wiped out, regardless how good a “trader” you think you are.

This question was about forex trading indicators and there have been some pretty good answers that should help in your trading, and especially in relation to forex trading indicators, the answer has been posted in the categories listed below:

Private Traders: What Trading System do you use?

admin — Sun, 04 Apr 2010 07:55:16 +0000

Please specify, whether your trading system:
1) was bought off the shelf and what is it called;
2) put together yourself using existing indicators & techniques (ie MACD, Moving Averages, Chart Patterns, etc);
3) developed entirely by yourself as a new proprietary system.

What do you use this system to trade (ie futures, stocks or FX)?
Not fishing for the secret all infallible holy grail of trading system (if it even exists).

Just want a simple answer like:
I trade using point (2) using candlestick patterns and moving averages as trailing stops. Use it to trade FX.

Dont need to know the time period of your moving averages or secret mathematical formulae you’ve programmed into TradeStation or MetaStock.

Trading indicators are best used along with money management and good risk control, using tesnical indicators alone will not enable you to ne a successful trader, the market is just too random

A question about Overbought Indicators?

admin — Thu, 01 Apr 2010 14:24:42 +0000

I have a pretty good understanding of trading Oversold Indicators but have been getting into Overbought trading on the short side recently. My question is from a swing trading (shorter term) stand point. When I am looking at creating a watch list based on overbought conditions (RSI and Stochastics) would it be wise to focus on currently up trending stocks that are overbought, consolidating stocks breaking down, or down trending stocks that have had a recent rally into overbought territory?

I understand there is no Holy Grail or perfect way to trade overbought but really am looking for another opinion or idea. Thanks in advance.

Trading indicators are best used along with money management and good risk control, using tesnical indicators alone will not enable you to ne a successful trader, the market is just too random

Private Traders: What Trading System do you use for which Markets?

admin — Sat, 27 Mar 2010 07:54:07 +0000

If you trade futures, stocks, FX: do you use the same Trading System or a different system for different markets.

Also what is/are the Trading System that you use for each market:
1) one you bought off the shelf;
2) put together yourself from existing indicators & techniques (ie MACD, Moving Averages, Chart Patterns, etc);
3) developed entirely by yourself through mathematical programming into a new proprietary system
Not fishing for the secret all infallible holy grail of trading system (if it even exists).

Just want a simple answer like:
I trade using point (2) using candlestick patterns and moving averages as trailing stops. Use it to trade FX.

Dont need to know the time period of your moving averages or secret mathematical formulae you’ve programmed into TradeStation or MetaStock.

Trading indicators are best used along with money management and good risk control, using tesnical indicators alone will not enable you to ne a successful trader, the market is just too random