Flying without Indicator

[azmi]

Its frustrating knowing that all off the shelf indicator lagging. Most of us use it & tweaking to a point that we think its fool proof against loss. We spend time to backtest & once we feel confidance in it, open a small account & start trading.
Sometime we're lucky & make profit on the first trade. Some just got demoralized when the market didnt agree with their indicator & made a lost on the very first trade. Things just got worse when the market is nontrending.
This describe 95% of trader out there. I'm wondering what does the other 5% do besides profiting from of us.
They look at the the same chart. If they look at the same chart, what are they looking at & I dont think they look at any indicator at all.
My question is how do you trade not using indicator?

[andrewmooton]

Im no expert here so probably best talking what I say with a pinch of salt but I think they trade using channel breakouts, candlestick patterns, fibonacci retracements and things like that.

[4xis2ez]

It is simple to trade with no indicator. This morning I got up 7:00 eastern time USA and noticed eur/usd was going down. So I sold at 1.2295. I don't know if it would go down farther, no indicator will tell you that. This is speculation, and no one knows where the market will head. Anyway, eur/usd is now around 1.2240.

So basicly, the way I trade is when the market is going down, sell. When the market is going up, buy. Then move stop to breakeven if market moves 20-25 pips in my favor.

Patience is needed and to avoid overtrading also.

Small account managed forex

[amarnath]

Hi 4xis2ez

There are indicators exists that can predict a lower /upper limit of a day move to certain extent

[4xis2ez]

Originally posted by amarnath
Hi 4xis2ez

There are indicators exists that can predict a lower /upper limit of a day move to certain extent

Hi Amarnath.
Do you have a prediction of the lower/upper limit for eur/usd today and tommorrow?

[xtsunami]

azmi,

Though I can hardly speak for anyone else, for me a few well placed lines on a chart by far out performed traditional indicators such as the rsi, stochastics, macd, etc.

[amarnath]

Hi

Is this is dummoid Geomentry ? how you draw these lines and how do you interpect them? for me it look like spider web so can i call it as spider web stradgey ( just kidding )

[amarnath]

Hi 4xis2ez

yes for today my indicator show lower bound supp as 2240/2230 area not too far from mkt low