Comment on Mr Consistent returning incredible returns
commented on
30 Dec 2013, 06:10 PM
Mak_T,
1. I don’t use order flow. If you cannot be without indicators, thats fine. You will have to figure out something you are comfortable with.
2. Indicators will give you the feeling that you are ‘in-tune’ with the market. I never put down TA or FA. its just we tend to believe that Indicators or PE ratio(maybe useful for long term..i don’t know about that) is the key to successful speculation. But, in my opinion, price precedes everything. If you are comfy with Indicators, pick 1 or max 2 and see how you can build a system with it.
Timeframe is dependent on how frequently you want to trade.
3. I am sorry that i cannot suggest you any. I know few traders who see the moon waning and waxing periods to trade, some use the relative position of Jupiter-saturn-mars (basically astrology) to initiate/close a trade,and in CME pits, some people always wear only green shirt and they refrain from using toilets before the mkt opens (i am not making this up..this is true).
People have various ways of trading the markets and i cannot say which is right or wrong. There is nothing right or wrong. If one is comfortable with what they are doing to trade the markets, that’s all matters – being comfortable.
4. Again, you are asking me to give you a fish but i am saying that i have seen various fishes and i eventually figured out one kind of fish that is good to me and my stomach. Trading is not about accomplishing things but it is about the journey we encounter. Please go and lookout what is comfortable for you.
To say the least, its really putting me in an awkward position when somebody asks me to suggest an idea. Ideas are everywhere(most of the books has something to offer) but what is comfortable for us can be known only through one way – by trying them in real market conditions .. maybe on paper.
Not sure if it helps you but i just poured my heart out 🙂