JetTrader I refuse to believe that you misunderstood what I meant by my statement.

Why do traders use so many indicators?

Not to be rude but I have to disagree with you here. In my opinion it is much better to draw your own lines rather than rely on an automated drawing tool for many reasons. One being that if you are a good trader and understand the pair you are ...

Why do traders use so many indicators?

That's not an entry based indicator system and you did not point out an entry or potential entry. Those are supply and demand zones, price bounces, recent areas of s/r... I can do that using horizontal lines or boxes in mt4. It may be a useful tool ...

Why do traders use so many indicators?

The point of this thread was to challenge anyone to show me any entry using an indicator based system, and then I would be able to find the same entry or better using no indicators at all. Proving that indicators really are not needed to trade. I ...

Why do traders use so many indicators?

Honestly Mt4 data for back-testing is kind of useless. I recommend using some third party software for good quality 99% back-testing data. I assume you need this data for an EA you are testing? If so here's what I have to say. I've done a lot of ...

How to read opening and closing prices

It's hard for me to answer this question without understanding how your robot works in executing orders e.g using close of price or open of price etc. That being said it is most likely a difference in price feed for live vs demo. This happens and ...

Hey guys I have a question about my robot

I'm not going to go into too much more detail about this as I could be wrong. If you really want to see If I'm right what you can do is build a chart somehow that takes the % gain of all FX pairs combined into one final percentage for each year ...

Why do traders use so many indicators?

No problem. Like I said, EURAUD is in a technically good spot, and we may see some interest enter the market to the buy side, only time will tell. All this talk about technical analysis really makes me go back to my original point. Technical ...

Why do traders use so many indicators?

Some analysis of EURAUD on both daily and 4HR chart. We can see it's not a bad area to buy, my only issue is EUR weakness due to economic factors making this more of a risky trade. image image

Why do traders use so many indicators?

I have to say the effort you have put into organizing this data into an entry based system is really impressive. I do not fully understand your system so I cannot really make any judgement on it yet. From what I understand so far it's basically a ...

Why do traders use so many indicators?

I'm not in that trade. EUR seems weak so it's not a bad idea. The entry is good technically also. My only issue is AUD. Australia is also weak fundamentally and maybe arguably weaker than EUR at the moment. I'm long GBPAUD though.

Why do traders use so many indicators?

Hi Wavegarrick. This thread was not meant to be a discussion about my trading method, I have a separate thread regarding that in the trading systems section. I made this thread to be a discussion about indicators and why or why not they do not work.

Why do traders use so many indicators?

That is a question that I'm interested in hearing the answer to as well. There are many factors that go into why you take a trade and/or why to stay in it. It seems that most EA's or indicators focus on the entry side of the trade, and some good ...

Why do traders use so many indicators?

Very interesting stuff. If all you are saying is true I would love to see the results of this system long term. See what the ROI of it is on each pair its traded on, how it works etc. As I say I have designed many EA's in the past but the work ...

Why do traders use so many indicators?

Maybe. However, based on my understanding of JetTraders explanation it seems the trades he takes are situational. In this case it's only use would be for manual trading. I do wonder though, if there is ever a sweet spot where everything lines up ...

Why do traders use so many indicators?

@JetTrader Your system seems to have a lot of thought put into it and since you coded the indicator yourself and understand the ins and outs of it I don't think it falls under the category of bad indicator based systems. Since you're really only ...

Why do traders use so many indicators?

That sounds pretty cool. GBP/CHFBuy 1.26244 MTM 1.26421 Feb 10, 2020 6:51pm

Why do traders use so many indicators?

Yes, disagreement is a good thing. If everyone thought the same way nobody would profit from trading. Keep in mind that I never said you cannot make a profit using an indicator based system. I only said that I can find the same trades without using ...

Why do traders use so many indicators?

I have to agree with you here. Trading price action alone is just as useless as trading with an indicator system by itself. Indicators and price action alone are not going to give you an edge, these visual patterns or indicators are good for only ...

Why do traders use so many indicators?