INDEX:SPX   S&P 500 Index
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Once in a while - I get a useless comment from someone intended for nothing more than waking up their inner asshole. Today's useless comment was along the lines of "for once in your life, why don't look for oscillators." I know there are a ton of people who love to trade indicators. I'm not one of them. Here is why. Oscillators do not always give good signals and they do not always give early signals and they sometimes show divergence, but only on one. Divergences and be positive or negative, or could simply be pulling back to allow more room to the upside. If you spend a good deal of time trying to understand what they are saying and have mastered that, that's great. For me, I'd rather chart and trade price patterns. And if someone took the time, they'd would likely find that my long entries were quite good. The MA crosses and MACD crosses for entries were late. TWO signals for short worked, but those were both near my upside targets and I prefer not to take a short until I see a pattern with a target. That's just me.

Kindly, if you don't have anything useful or interesting to say, don't address your comments to me.
Unfortunately people that rely on oscillators don't realize they are lagging indicators that are formulated by price and volume. Price it king!!
KLang PRO prospect88
I'm not here to bash on anyone's system. Price works for me. That's my comfort zone.
Good luck if you are able to beat Warren Buffett's performance constantly!
can I suggest, "if you don't have anything nice to say, don't say anything at all?" K, your charts are the best, and I personally really appreciate your sharing, because you don't have to. :)
KLang PRO claydoctor
Thanks - and you're right - I don't have to! lol
Indeed, most indicators are useless if you know how to read price.
Some do help, and save time, like CCI or RGMOV (which I use).
I could live without them as well, but they sometimes provide useful information.
KLang PRO IvanLabrie
Mostly in retrospect. RSI for instance is maligned with caveats, In a bull market divergences have a different meaning than in a bear market. A strong market can remain overbought and a weak market can remain oversold. If you have a favorite long set up out of a support area, the candles will get you in before RSI will.
Of course...if you don't understand what the price bars mean, you're lost.
Timing of the swings and individual candle analysis in a trend is vital.
Example of what I do:
GBPNZD: Interesting contrarian trade
claydoctor IvanLabrie
I agree indicators are a traders confirmation, not a precurser or predictor. I will offer... in a community numbers have been skewed since March 2nd, and before then SPY was in sync with the dollar, and oppo the Euro, and now looks like SPY trades the way of the eurusd, and against the dollar. Could these world bank currency moves be skewing the numbers, and that is why they don't make good sense right now? Not a conclusion, just a suggestion.
+1 Reply
IvanLabrie PRO claydoctor
Conditions change, strong economy and markets walked hand in hand with a strong dollar. Now we got artificially inflated (by systematic currency devaluation) markets, and a falling euro and yen.
Tides will soon change, going by the Nikkei and SPX charts...
in the end all these "crabs" and lines ur drawin iz all guess work at best, tryin 2 apply chart patternz 2 indices works 30% uv thu time at best. support/resistance and oversold/overbought RSI/STOCHS are
still the best time tested/proven indicatorz out there. callin sumone an asshole cuz they suggested u uze an oscillator iz a bit extreme. if u cant take criticism stop postin charts publicly lol
dionvuletich nobullshytrader
Spell properly man, this is not a speed text message competition....
Meah, ignore the haters... each to their own
Personally I don't need or use indicators, price and fibs/ structure levels only - started using 4-5x indicators on 5x timeframes to look for 1x entry many years ago - far too complicated/ convoluted...!

I'm an advocate for keeping it simple and listening to what price is telling you instead of lagging indicators even divergences or pivot points which are more early warning signals IMO
nobullshytrader dionvuletich
spelling haz nuthin ta do with a)makin $ b)charting
dionvuletich nobullshytrader
No, but your not talking to teenagers who still haven't learnt to spell with excessive use of u's and z's while missing the g's.

We're all traders here sharing setups and knowledge to help each other,
... there is no need for text language here and you know it
nobullshytrader dionvuletich
go enter a spelling bee with thu kidz in ur school, we just took in over $3500 yeturday on our SPG and DYAX shorts, how much did u take in?
dionvuletich nobullshytrader
maybe that can pay for your education..? maybe...? just saying....
nobullshytrader dionvuletich
millionaires dont require an education, have fun trollin dude lol
-1 Reply
dionvuletich nobullshytrader
Well then maybe you can say something constructive instead of trolling everyone on this post? I don't think you've added one positive comment to this whole post..
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