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I traded futures decades ago (when we had to manually make our charts from WSJ info & phone orders to the broker!) and also traded Forex when it first became popular. I was not successful either time but when I started getting serious about trading futures a year ago I already knew that no "holy grail" existed. Nevertheless, I still tried a moving average cross strategy for awhile and was successful at first. That was unfortunate because that early success caused me to stubbornly stay with the strategy while I drew down my account. I finally decided that PAT was the only logical path to success and set out to learn all I could. I struggle through Al Brooks book (he may be a wizard but he's not a good writer!), read Nison's candlestick book and watched about every free YouTube video I could find. It all helped, but it wasn't until I took a relatively inexpensive course from Lance Beggs (YourTradingCoach.com) that it all began to make sense. I only went back to Live trading a few weeks ago but I am getting more consistent and confident as I go along. Still plenty to learn!!
My chart isn't "completely" naked. I do have a 20SMA to just visualize the trend and pullbacks, an ATR to keep me aware of the volatility so that I don't enter a market with more volatility than my risk amount, and I recently put a MACD at the bottom to see if it will help me monitor the momentum. However, my only trading signals are from the price action itself, not from any of the indicators.
Glad to hear you are becoming more successful and consistent. That helps keep the attitude in the right place!
Can you help answer these questions from other members on NexusFi?
I don't think it matters what you you use as long as you have a proven edge. backtested, forward tested, traded live.
I can trade a naked chart but I don't have a proven edge. It'd be guessing thinking price has a better chance of doing this than that, but I have't been able to program anything to verify it via backtest, forward test then traded live.
I use a handful or less of indicators and I've programmed each one on my own, based on what thought would give me an edge. Then I developed different strategies based on those indicators. They've shown proven edges via backtests, forward tests, and traded profitably live 4+ years. It took me 6+ years to get to that point; coding, studying, reading 30+ hours a week on top of a 40 hour work week (not even close to overexaggerating) Sleepless nights, strain on relationships, huge hits to account value, hits to psyche, etc.
Use whatever but it will take everything you have and even then you may walk away with nothing or much much less than what you started with. Be careful, drive slow.
In all essence, candles themselves are an indicator. However, trading a so called "Naked" chart can be done with just pure candles and the simplest form of price action, LL and LH and HH and HL. That is enough info to let you know what the market intends to work towards.
@mtzimmer1 mention Damian and without a doubt, you need to check out his channel. He is completely transparent and teaches his method for $0. You have to devote the time to learn and understand not only the market but yourself.
I do not use Jigsaw myself since DOM trading isn't my thing.
Before you spend the money i would suggest to check out all the free stuff you can find to see if you like it and maybe then get the course if you are still interested.
About a coupon code, maybe you can ask them for a discount, you never know.
Thank you for that reply, I will check out the free stuff. And for now I’m going to just keep on reading my “trading in the zone” book and keep on working more diligently on my beliefs and my attitudes.
Trading: Mini and micro US Indexes/ DAX/ FX/VIX/GOLD
Posts: 180 since Apr 2010
Thanks Given: 53
Thanks Received: 164
Order flows, time of week/month/quarter etc. News/data/sentiment, is there an appetite for either direction? Ranges and price targets. Traps. Do you 'give a shit' if your trade wins or loses? Tiny position size and no fear. Multiple entries. Multiple timeframes and markets. Internals. Squawk. Twitter. Volume and DOM. VWAP.
