AUDCAD, page-47

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Trae

1,484 Posts.

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10/05/17

20:53

Post #: 24609168
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Originally posted by Trae ↑

I reminded myself today the extent to which I'm a technical trader.
I've been trading a chart all week.
I realized today I didn't know what I've been trading. I knew it was FX but nothing beyond that - had to check

In case it's of benefit, after wasting possibly a decade on the wrong indicators one of the biggest breakthroughs for refining my trading toolbox was understanding lag:
1. understanding that lag exists in all indicators
2. how to quantify it's impact on any given indicator
3. Understanding that lag and time dependence is the undoing of ALL time based indicators that I have analysed (and most indicators are MAV based)
3. Realising that price targeting incorporates 2 levels of complexity (price & time) and that I shouldn't attempt to master time until I've mastered price action

A downside I found with heikin was the bars are not aligned to the regular candles that the masses use to define support & resistance.
Not having a go at heikin - it's just not an indicator that I've traded (I have analysed it and found it similar to running displaced ST MAVs).

What works for me is waiting for the perfect entry (when price has reached the long term sup/res), not being hasty to enter the trade & to wait for price to come to me (If it doesn't arrive - C'est La Vie, there's always going to be another trade).

If in doubt, zoom out

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@specgoldbug

My last post left me re-considering the HA chart so I traded AUDCAD long using it tonight.

I will still use basic candles to draw sup/res however I could be a convert to using HA when monitoring an open trade for simplicity.

Price at posting: 1.3709 Sentiment: Sell Disclosure: Held
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Last 1.3595		Change 0.000(0.00%)		Mkt cap ! n/a

Open	High	Low	Value	Volume
1.3595	0.0000	0.0000	$0	0

CAD (FOREX) Chart

AUDCAD, page-47

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