LOL, the title sounds a little funny doesn't it.
This morning in the live training room, we were discussing what price based indicators actually do for us, and how so many of the ones in the stock "list" really didn't do much to give us a heads up on the market.
They all told us what it had done, but none could project what it should do. Even when loading the amazing Fibonacci tools, there were as many ways to look at them and opinions on what they meant as there were people in the room.
At one point I took all my Flux timing indicators off of the chart.
It looked like a hundred mile long stretch of desert highway glaring back at me from the monitor.....not very appealing!
I could see candle stick patterns, and market structure, even a few price patterns, double tops, W bottoms etc., but none of them gave me any insight as to the next bar forming on the chart, and what it was likely to do.
Then one of the traders in the room said it looked like I was "trading naked", and to be honest, after having the Flux for so long, that is exactly what it felt like.
It made me realize just how important the timing indicator has become to me, and how powerful it really is.
To see a bare chart, and even put on a few standard trading indicators, Stochastics, MACD, Pivot levels - it was still not the same.
Without that text on the chart glaring at me, telling me the next turning point was coming in 22 minutes, I felt lost. To be honest it was a little uncomfortable.
[Flux turn signals warning impending behavioral moves]
I am very thankful to have this powerful tool, and this timing indicator. It's not an 'end all', or a 'holy grail', but it definitely makes a huge difference in how I see the markets.
I don't think I could trade without it anymore......and feel naked when it's not there.
