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Project Spio Trading system & Journal -Deadly accurate
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Project Spio Trading system & Journal -Deadly accurate

  #31 (permalink)
Trading for Fun
Little Rock, Arkansas
 
Futures Experience: None
Platform: MarketDelta
Favorite Futures: Options
 
r3algood's Avatar
 
Posts: 198 since Jul 2011
Thanks: 106 given, 105 received


Big Mike View Post
No clue why are you directing this at me.... I've been screaming at the top of my lungs for years to stop all the indicator craziness. I am only in this thread because it looked like a scam. I am here in moderator capacity. I have zero interest in the method.

Mike

I just wanted to see what ya thought about that sentence that i quoted

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  #32 (permalink)
Site Administrator
Manta, Ecuador
 
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Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
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Posts: 46,006 since Jun 2009
Thanks: 29,168 given, 82,168 received

Here is a thread worth reading:

https://futures.io/elite-circle/3506-elusive-price-action-how-trade.html

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

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  #33 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
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Posts: 46,006 since Jun 2009
Thanks: 29,168 given, 82,168 received



r3algood View Post
I just wanted to see what ya thought about that sentence that i quoted

The part that you quoted just shows that the OP doesn't have much experience. I think we've all been there. And like the OP, most of us probably refused to listen to our "elders" that were screaming at us that what we were doing made zero sense.

You can tell your kid 1000x times not to touch the hot oven. But they still must do it at least once before they get burned, and learn to not do that again.

Traders who say that their method moves faster than price action... lol... I have no comment.

And now he has stopped posting, presumably to go open his hedge fund with this new holy grail method. Look, in all honesty, I am really trying to not be mean or rude. So I say this in jest. And here is some helpful advice: there is nothing so magical that you created as a discretionary trader that you cannot share it. So his post to close his thread just proves that this is someone only at the very, very beginning of his cycle in the world of trading.

Like I said, we've all been there. So we can try to get him to "see the light", trying to get him to avoid repeating the mistakes we've made, but he is unlikely to listen. Still, at least we try.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

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  #34 (permalink)
Elite Member
Aurora, Il USA
 
Futures Experience: Advanced
Platform: TradeStation
Favorite Futures: futures
 
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Posts: 5,864 since Nov 2010
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r3algood View Post
Oh dude I always have an indicator or two on my charts, and I've played around with my methodologies more than I could possibly count. What I'm saying is that as traders we can't ignore price action or what the market is doing, indicators are fine and dandy but just don't trade them!

I don't need this directed at me either...I only have CD on a couple charts, the others have nothing.....we are on the same page. That's why I said you are making assumptions. Just because I make a post in a thread doesn't mean anything. Feel free to lecture the public but don't direct it at me
Kbit

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  #35 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
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Posts: 46,006 since Jun 2009
Thanks: 29,168 given, 82,168 received

I believe r3 was just trying to point out something the OP said and get us to comment on it. I thought he was aiming at me, but I think it was just a misunderstanding.

OP said:

Quoting 
I don't want to go in depth to price action, since I've already abandoned price action as this system actually moves faster than price action itself since its based on fibonacci - price action is based on fibonacci and eliot waves.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote
 
  #36 (permalink)
Elite Member
Aurora, Il USA
 
Futures Experience: Advanced
Platform: TradeStation
Favorite Futures: futures
 
kbit's Avatar
 
Posts: 5,864 since Nov 2010
Thanks: 3,300 given, 3,324 received


Big Mike View Post
I believe r3 was just trying to point out something the OP said and get us to comment on it. I thought he was aiming at me, but I think it was just a misunderstanding.

OP said:


Mike

I agree with what he said....I guess I misunderstood as well....


Last edited by kbit; October 20th, 2011 at 09:36 PM.
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  #37 (permalink)
Trading for Fun
Singapore, Jurong West
 
Futures Experience: Master
Platform: Metatrader
Broker/Data: OANDA
Favorite Futures: Currency
 
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Posts: 128 since Oct 2011
Thanks: 11 given, 106 received


kbit View Post
Why did they advise you not to share ?
Everyone is held harmless here...there is nothing to fear

Well they said that I shouldnt be helping strangers, but rather only relatives or close friends.

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  #38 (permalink)
Trading for Fun
Singapore, Jurong West
 
Futures Experience: Master
Platform: Metatrader
Broker/Data: OANDA
Favorite Futures: Currency
 
Nasdin94's Avatar
 
Posts: 128 since Oct 2011
Thanks: 11 given, 106 received


r3algood View Post
@Big Mike
@kbit

It boggles my mind the number of people who trade their indicators instead of trading the market.

Trade your market, not your indicators.

I understand how you feel. I was a price action trader 3 months ago.
Then I combined it with this.
I realized that the signal always come with price action after the signal was produced.
I also realized that this indicator helps to remove any short term price action signal

Soon after, I removed price action from my system.
Last time, I waited for price action confirmation when a signal a produced,
Now, I just place buy/stop limit orders and just let it go without waiting for PA.

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  #39 (permalink)
Trading for Fun
Little Rock, Arkansas
 
Futures Experience: None
Platform: MarketDelta
Favorite Futures: Options
 
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Posts: 198 since Jul 2011
Thanks: 106 given, 105 received


Nasdin94 View Post
I understand how you feel. I was a price action trader 3 months ago.
Then I combined it with this.
I realized that the signal always come with price action after the signal was produced.
I also realized that this indicator helps to remove any short term price action signal

Soon after, I removed price action from my system.
Last time, I waited for price action confirmation when a signal a produced,
Now, I just place buy/stop limit orders and just let it go without waiting for PA.

Hey man no worries, i think my post may have come across as a bit harsh, I am following along in this thread and look forward to continued journaling even if you won't be posting the system man!

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  #40 (permalink)
Trading for Fun
Singapore, Jurong West
 
Futures Experience: Master
Platform: Metatrader
Broker/Data: OANDA
Favorite Futures: Currency
 
Nasdin94's Avatar
 
Posts: 128 since Oct 2011
Thanks: 11 given, 106 received



Big Mike View Post
The part that you quoted just shows that the OP doesn't have much experience. I think we've all been there. And like the OP, most of us probably refused to listen to our "elders" that were screaming at us that what we were doing made zero sense.



Traders who say that their method moves faster than price action... lol... I have no comment.



Mike

Here's something you can do, Dl the multiwave-W indicator.
Attach to an mt4 chart, EUR/USD for example
Backtest it.
Press F12 to move foward 1 bar
Look for the SITG pattern,
observe how it comes before price action.

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