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Indicators 4

Indicators 4

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Published by Mark Soberman

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Published by: Mark Soberman on Mar 23, 2012
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How to Trade Without Indicators Webinar
Transcript Part 4 of 4
This webinar transcript is brought to you by NetPicks, day trading systems and strategiesdeveloper since 1996. For more free day trading articles, analysis, videos, webinars, andmore be sure to visit http://netpicks.com/trading-tips.  If you enjoyed reading about this webinar, be sure to get on our mailing list and sign upfor future webinars, as well as view all past webinar recordings athttp://www.netpicks.com/learning-center/training-webinars/  
If you watch my videos, you’re going to see a progression
since 2009 you’re going to seeit. You know, it’s out there. I don’t make this stuff up. But if you’re not
if you don’thave that mindset, man, you know what, go do something else because you’re not going
you’re not going to do well. That’s what
experience and this is not just my won opinionbut just from the emails that I get, one thing about being a part of NetPicks and the waythat I am, is I get to see the successes and I get to see the failures. I get to see both. Andthe ones that have re
ally not done well have said this, “It wasn’t the strategy, it was me.It was me.” The same with you.
 Any questions at all that we can run through, I know this -- some glitches here. Its 8:26,
any questions, I don’t see the chat box here but if there’s
any questions maybe someone
can see this stuff anybody? Or I don’t happen to see the channel box here.
 Brian Short: Shane, let me give a second here to see if I can find some questions for you.
Shane Daly: I know there’s a bunch before my computer di
ed but --Brian Short: Okay. A lot of thanks coming in.
Shane Daly: That’s always a good thing.
 Brian Short: Yeah.Shane Daly: And for those who are stuck around, I know we had some problems and Iappreciate you doing this sticking around.Brian Short: Yeah. Dave is asking a question if you can repeat where the videos arelocated.
Shane Daly: Yeah. You know what, I’m not going to talk about my own
-- like sort of 
my own blog a while ago just my thoughts. I’m not going to touch on those but i
f you goto NetPicks.com/trading-
tips, there’s a whole bunch of information on that site blog postings and a lot of my stuff is on there as well. I’m a big fan of making videos as a lotof people might know, but there’s a lot of information not just for m
e but when you deal
with people from NetPicks, you’re not dealing with just customer service people. These
people trade, you know, everything from crude oil to wheat to corn seed to futures, youname it. So NetPicks.com/ --
it’s right there on the chat b
ox.Brian Short: John is asking if you use multiple systems. Do you use SST?
Shane Daly: Sure. I’ll answer that. Yeah.
 Brian Short: Five sections.
Shane Daly: This is what I do. SST, I have my own way of trading it. It’s very, very
similar to trading plans that come with SST. I just know what I like to do and I lovemarking off certain areas of price. If you go back over, I think on the SST blog as well,there are some -- I admit that I missed this trade because of my own rule but I like tomark off highs and lows and certain congestion areas. But -- and then my other strategyis just pure chart, just chart.Brian Short: A number of questions from SS asking on the stochastics. Do you use a 3,8, 3?
Shane Daly: Yeah, that look like it, no, it’s 8, 3 and 3. It’s just in NinjaTrader they have
it like that 8, 3 and 3.Brian Short: Okay.
Shane Daly: You know, you’ll see it once you put
it on, you’ll see the real smooth outversion, that’s what you’ll want 8, 3 and 3 stochastics.
Brian Short: A lot of thanks coming in. Yeah, again, Shane, so good job on the
 presentation and let’s see.
Shane Daly: I try to hold the rumbling to a minimum.Brian Short: We expect it.Shane Daly: I know. I know. My videos run like 24 minutes sometimes, I swear I can
get it done in 10 minutes but I find different like I’m doing right now, I find different
topics I want to cover, you know.Brian Short: Mike is asking a question. Is this method good for any market?Shane Daly: Yeah. You know what, this -- the way I learnt it was with Fibonacci, okay?
And it didn’t matter what market. It did not
-- with every one trade, you know, put it upon the chart and take a look at your finger market. You know, someone asked about ES,
what time frames? Why? I don’t know what time frames. I don’t know what time totrade. You know, for me, it’s always been currency. Currency has been very, very
to me. But put on any chart, you know, because the way I learnt it, they were -- they
weren’t trading FX and they were trading other markets. So just take a look at it and
prove that to yourself.
Brian Short: Yeah, I’m going to quote Dale here. He says, “What a great confidence boost, confirmed everything. I’ve discovered for myself the lack of confidence to trust because nobody taught it to me. Thanks for a great webinar.” So thank you, Dale.
Shane Daly: So you can send --
you can send me an email, Dale, if you like. I wouldn’tmind knowing what you’re being more specific about. That’s a great confidence. I’mactually getting goose bumps. Thank you. Well, it did. I’m serious. I’m seriou
s.Brian Short: This is a technical --
tech question from Tom. “You seem to be using three
time frames 240-minutes, 60-minutes and which other?Shane Daly: Oh, okay. No, that was just for examples, okay? That was just for
example. We’re in
a pretty tough market right now and I could spend hours looking forexamples but just two. I look for the higher -- look for a higher time frame and a lowerone. So like I said if you want to trade a daily chart, look at the weekly chart first. Thoseex
act same the MACD, stochastics on a weekly and a daily. If you’re looking at 240,look at the daily chart. If you’re looking at a 60
-minute chart, we look at a 240 and it
doesn’t hurt to scrunch it up even a little bit just to find out where those big tu
rning pointsare and you look -- if one key here, look for the big moves. Those thrusting candles thatlike come out of nowhere. Look for those.
So just two, I just look at two. And if it could get more technical if you’re looking at if I
took a trade on an hourly chart using a four-hour trend, you can even go down to milk even more out of a 15-
minute chart but that’s just, you know, what that’s just looking this
is going to complicate things more.
Brian Short: Okay. We’re going to take just
a few more minutes here. If you have aquestion and you want it answered, I would ask that you type it again. A lot of questions
came in but we’re going to be able to get through all of them. So if there’s something
specific, pop it in and text here. W
e’ll take another five minute or so and get themanswered about. Myles is asking, “Do you ever use volume on your charts?”
Shane Daly: No. I trade FX and that’s centralized exchange so volume isn’t reallyhappen. I know there’s volume indicators out there they’re just
it doesn’t
-- it --
you’renot going to find a proper volume. And when I trade price, I don’t use volume either. Idon’t use volume at all.
Brian Short: Ken is asking what a Forex broker you use?Shane Daly: I started with OANDA. I got caught up in the flash of the FXCM and Iwent back to OANDA. And then they transmute to the Canadian branch when all these
regulations came in but I like OANDA. It’s not a plug for them. I just
-- I know how big

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