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Online Share Trading

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Markets looking to be heading south?

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Not applicable
you are over thinking this, to be honest. And RAMS is incorrect. Indicators are very much part of the price. A moving average is a derivative of price, a candlestick is simply the opening, high, low and close of price - oscillators are again just indicators of rate of change of price, so absolutely indicators are a part of the 'trade the price' concept. Indicators, and price, just doesn't give you the 'why', which none of us care about. Simon uses moving averages. I use relative strength (not RSI - but relative strength vs the index). I think you need to read Mark Douglas, Trading in the Zone, it will help you get your head around this.
SimonPB
Valued Contributor
an read up on the turtle trading system .. they enter when price breaks above 22 period high or low going long or short ..
SimonPB
Valued Contributor
but even simpler .. you watching a X minute chart, new candle starts trading above previous close on green candle = price rising = buy .. problem is costs, slippage and spread so we need to be slightly smarter, but only slightly
Penny_Pincher
Super Contributor
I have read the book (and I will read it again) and also follow Simon on Just-One-Lap so yes MA's is part of his toolkit. Conclusion....it all comes down to finding your own "holy grail". So much for attending all these courses, it leads you to overthinking.
Not applicable
the turtles, were by nature discretionary. While their system was absolute, their choice of instruments to trade wasn't. There had to be a trend in place first, before they used the instrument. Your trade above the candle concept is also not likely to yield results if the market is trending down on you.
Not applicable
the turtles, were by nature discretionary. While their system was absolute, their choice of instruments to trade wasn't. There had to be a trend in place first, before they used the instrument. Your trade above the candle concept is also not likely to yield results if the market is trending down on you.
Penny_Pincher
Super Contributor
Thumbs up Simon another one for the toolbox!
Rams
Super Contributor
price and price action two different concepts. PRICE is now and price action is past.
Preston
Super Contributor
Sometime the "eyes" is the best indicator of going long or short.