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Personally - I'm still working on my system. I can tell you the only real indicator that I've found that has any merit is the price being quoted on the screen in front of you. I think the BB's resonate for me because I'm a visual learner. So on a longer term time frame it can help you identify trends if the bb's are riding the rail. It can help you find areas of support and resistance as the bb's pull away (separate) from the rail.
They work good and they also work bad! Being newer to the game (only 2 years in) I took for granted that separation at a particular area, say a measured move at a 61 has to be gospel and it needs to move up/down depending on the direction. So I'd take some more risk wouldn't have an appropriate target identified, didn't have much of a clue what was going on inside the price action taking place... back to the drawing board. Personally, I'd love to trade without indicators all together like Al Brooks.
As I do more research into this, I continue to find that managing risk is your life preserver in this game. Not assuming things is another. Not being extremely bias is another. And lastly figuring out what price is telling you. I don't think the indicators are wrong, they are smoothing out price action for you. A perfect example is when I was watching the GC. Nice impulse move up and it started trending down with the 6765 bb on the rail pushing up. I wanted to see a measured move at the 50/61 with separation on a 377 bb. I got it and got take out. I then re-entered and got taken out as it pushed much further down before finding support and then it shot back up.
I can tell you that I've done TopStep quite a few times, found some success but failed each time. Mostly due to me relying indicators hoping they'd tell me where to get in and being frustrated and not managing my risk or understanding what price is telling me. I haven't succeeded yet in finding consistency and my only plan is to not quit. Every time I fail, I know I'm that much closer to finding success. So I continue to read and watch videos and try to pick up anything I can that can clue me in on why certain things are happening in the market. I've been tempted to pay someone to teach me how to trade, but I don't want to know how, I want to know why things happen. I'm not saying having a mentor is a bad thing, I would love to have one, and have yet to find one. But I always had to ask the question, why would someone need to make $5k off someone if they are consistently pulling $10 to $50k a month out of the market. Why wouldn't they want everyone trading their system, but then if everyone did would price even move, lol!
So, is the system working for me yet, no. Do I find the indicator to be helpful, sure, any clue you can get is helpful but after two years of trying to rely on them and not find consistency, I have moved on, I'm working on a system that incorporates on a longer term time frame, the 6765 and look at something shorter like a 377. I'm looking at market structure and more importantly I'm going to focus on what price is telling me and focus more on my risk and managing that then just looking at an indicator. I still think an indicator can help provide some insight, but certainly not gospel. Also, TopStep is great because you only have to pay a fee and not blow out of a live account. I have no problem paying a hundred some bucks a few times while I'm trying to find a system that works for me rather than blowing out of an account!
Thank you my friend.
I wish you success as soon as possible.
“Only one who devotes himself to a cause with his whole strength and soul can be a true master. For this reason mastery demands all of a person.”--Albert Einstein
I am very much interested to learn Horst method. I am afraid that he is no more with us as I am not getting any response from any of his social presence.
Any one aware what happen to him. I wish I could have taken his course.
yes I took his classes, and what you see on you tube is what you can achieve.
his main method to mitigate psychological sabotage, is to have one trade and done as he showed on you tube.
you can achieve a high percentage rate with high profitability rates using this method.
sorry for the delay, i do not visit this board too often.
