Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
So, apparently your method is the only that makes money. If anyone uses tick/renko/range bars, they cannot possibly make money. Take a look at the chart in post #61 again, and tell me if that chart did not make money. Could your method have traded that chart on that day profitably? I love when traders believe that their method is is the only that is worth putting on a chart.
Monpere - your response is exactly why I just knew that offering my humble two cents on one method to help out a fellow member become regularly profitable was a waste of my time. You have read thoughts into my attempt to help that are completely off base and inaccurate. I apologize if you feel personally offended and I wish you the best of luck with your approach to trading.
Is it routine in this forum to receive this kind of response when simply offering to help? Who knew. It will be my last.
Broker: Advantage, Trading Technologies, OptionsCity, IQ Feed
Trading: CL, NG
Posts: 1,038 since Jul 2010
Thanks Given: 1,713
Thanks Received: 3,863
I wouldn't let one person's opinion defer you from looking to help others. There will always be those with differing opinions which is the beauty of trading. I thought your initial advice regarding how the indicators being a lagging signal was spot on.
The forum is about opinion, I had no problem with your first post, it presented your opinion. But you can present your opinion without belittling that of others. Tick charts, range charts, renko charts are just pretty, but they won't make you money. That statement is an affront to whomever trade those charts. I've been on this forum for a very long time, I've never said anything of that nature, because I know there are numerous ways to make money in the market, even if I myself may have not been able to make them work for me, someone may have been able to. I would never be so presumptuous to believe that anyone's method is just incapable of being profitable. Let alone when such a chart is publicly presented to you to see that it can be done.
Search on my name on this forum, and look at the numerous charts that I've posted on various instrument on various days, not just cherry picked trades, I always present the entire day's charts with every signal for that day or period. No zen philosophy, just plain indisputable cold hard candles on the screen, every signal win or lose. I believe every one presenting advice should do the same. Just present your approach or opinion, no need to belittle that of others.
I am old and full of wisdom ( ... just ask other board members ... they will tell you ..."He's full of it" ... ) not to mention Zen-like and humble... yet @monpere disagrees with me sometimes.
On futures.io (formerly BMT) you are allowed to respectfully disagree with a poster... but you are not allowed to
I have been on other forums where that is not the case and every disagreement degenerates into a flame war. That isn't tolerated here... Thanks @Big Mike!
In all fairness ... some (including me) liked what you wrote ... others were less than enthusiastic ... but I didn't think anyone was unduly harsh or rude .
If you do indeed self censor yourself (please don't) ... other traders will the less for it.
I'm just a simple man trading a simple plan.
My daddy always said, "Every day above ground is a good day!"
It is common on nearly all trading forums but futures.io (formerly BMT) is the one with the least issues by far! Please continue to post suggestions to struggling traders. If new traders knew just how little they actually know, they would probably give up. Too late for the rest of us - personally I am pot committed.
I absolutely agree with your statement above "Using indicators you should really try to understand the math and get into their exact behavior."
I am still trying to determine what my entry and exit criteria are going to be and I hate using something I don't understand. I now see that a lot of indicators like Stochastics, MACD, RSI are just visual representations of how price is changing and how quickly. Once you understand the (very simple) math and watch the indicator for a while you will learn that you can see the price behaviour without the indicator. You then become responsible for deciding for yourself if the price action (that underlies the indicator) is what you want to use to risk your money.
I think everyone understands that indicators are, by definition, lagging. This is not necessarily good or bad. What is a weakness of most indicators is that they not only lag but they are inflexible. Of the 3 indicators above, all are based upon a certain number of bars closing before they plot their next point. If you just follow the indicator you are locked into that view of the world. If you choose to understand the indicator concept and watch the price action yourself, you may be able to see movement at 7 bars and take action (ahead of the herd). Likewise you may choose to delay and not enter a losing trade.
Learn what the indicator really is, how it works and how it doesn't and then take responsibility for using it or not.