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I have found an indicator on eBay and they say that you can detect the points or levels of manipulation where banks buy and sell during the London and New York sessions. They also say that banks always seek to touch your stop loss and that we can take advantage of those movements. Is that possible? Is that true? Please let me know what you think about this statement and about the indicator. Thank you! I leave the link here.
I took a quick look at it out of curiosity. Are you saying it detects bank levels? First big red flag: �it works on M15 and H4.� Bank levels do not depend on time frames, they are price levels. The video shows a MT4 indicator with channels that seem to follow a mobile average. There are several users here that could give you the same free. Magnumfreak, for example, used an MA channel quite successfully (when he was still posting
Come on, bro, use your head... eBay?
He is the seller. WBS = Where are the Buyers and Sellers.
So... if that indicator were really profitable, would it really sell it for a couple hundred dollars? If those levels had any real advantage, selling them would be giving away your golden egg chicken. Because the more people use them, the more you lose any advantage. (That assuming you have any advantage in the first place.
It is true, but it is still an indicator. We can measure at a specific time thanks to the support and resistance that marks. I recommend using several indicators to analyze time and volume in different periods. Yes, it is true because I have tried it.
Thank you.
Yeah... you're right.
Hahaha... I'm not the salesman, I just wanted to know what the others thought.
Yeah, you're right, I suspected it, but I wanted confirmation from you, so thank you, this really helps me, I'm not buying it.
Can you explain what you know about that, please?
Yes, I can.
Okay, so please share it or send me a private message.
I will.
Let me get this straight... a guy on eBay says he has an indicator that reveals the best kept secrets of banks, those same banks that have billions and entire departments of quantitative analysis, and you think for $200 he's going to give you the key to the kingdom. It sounds as logical as buying a Rolex at a gas station. The truth is that these kinds of offers are designed to seduce the desperate trader, the one looking for a magic bullet because he doesn't want to accept that trading is 90% emotional management and 10% technical. If you really want to improve, stop looking for shortcuts and start studying market structures and risk management.
Thank you for all the contributions, honestly. The good thing about asking on forums like this is that at least one finds honest opinions without trying to sell you smoke. I was already getting carried away by the excitement of �what if it works?� I�m going to keep learning on my own, step by step. I�ve already lost enough money buying courses and magical systems. I guess this is also part of learning. The market has a pretty hard way of teaching you what you don�t want to learn by the good ones.
For those who ask why I even considered it: it�s not so much for the indicator, but because the concept that banks �hun� stops seems interesting to me. I�ve read on several sites about that theory and it makes some sense. Now, whether the indicator itself is a garbage or not, well, it�s what I�m trying to find out. But it seems that the answer is already clear enough. Thank you for helping me not to throw $200 into the trash.
What if we are all wrong? Sometimes I wonder if these �secret� strategies won�t work precisely because no one takes them seriously. And if the type of eBay really hit something that works and we�re the fools that laugh? Of course, it can also be just another smart one selling a renowned MT4 file. But, in the trading world, the unlikely is not always impossible. That�s why I asked, in case someone had really tried it.
To all those who responded with sarcasm... I understand their point, but they could answer without mocking. Some of us are really trying to learn, even if we screw up asking things that sound ridiculous. Anyway, I appreciate that they have said what they think. I save myself a bad drink. The last thing I need now is another "saint grail" that only serves to empty accounts.
I have seen many indicators, systems, robots and signs on sale that promise wonders. And most have something in common: no one teaches to lose with dignity or accept that the market is not always going to agree with us. That�s why every time I see a promise to �know where banks buy and sell,� it makes me laugh. Not even the banks know for sure many times. If they were so infallible, there would not be the concept of drawdown in their quarterly reports.
I shared something that happened to me months ago. I bought an �institutional indicator� for $149. I said that I detected areas of smart money accumulation. I installed it, it looked nice. Results? 3 weeks later, 6 loser operations in a row and a red account. That�s where I learned the lesson. If someone has something that really works, they don�t sell it, they use it. And if they sell it, or it doesn�t work or never worked. The difference between marketing and reality in this world is abysmal.
Has anyone tried real methods to identify institutional levels without purchased indicators? I have been reading about order blocks and Wyckoff, and that sounds more reasonable to me than any magic plugin. If anyone has experience applying that in forex or indexes, I would appreciate you sharing how they identify them and what results they have had. I would rather go for something serious than continue to illusion me with smoke.
Another doubt that I have: if this indicator supposedly identifies areas of manipulation, how does it prevent you from getting into the trap of the banks yourself? Because if you are following the tracks, you are probably already late. It is like running behind a train. As fast as you go, if the train has already left the station, you will only see the smoke. In that sense, any tool that does not prepare you to anticipate the movement, is only a rearview mirror.
The idea of banks �touching your stop� is not entirely wrong, but it is not a conspiracy either. They simply have enough volume to move the market to liquidity zones. And where there are stops, there is liquidity. The problem is that you can predict it with a downloaded eBay file is like believing that you can predict an earthquake with a free application. The theory is based, but the tool is not up to date.
The most frustrating thing about trading is that many times you know what NOT to do, but you still do. Buying these kind of indicators is one of those mistakes that you see coming, but you still fall. That�s why I did this post. Because a part of me already knew it was a bad idea. But I needed someone else to tell me out loud. And thanks to everyone, they have.