All indicators useless?

weld1 · Apr 18, 2003

thanks so much for your reply. at the risk of sounding stupid,i'm not sure what u mean when u say goig with or fading the market. again i've been trading for awhile off and on when i'm not working , but lately have made a real effort to get better.again thanks and i hope u will reply again,i really appreciate it weld1

SimpleSimon · Apr 18, 2003

Quote from weld1:

thanks so much for your reply. at the risk of sounding stupid,i'm not sure what u mean when u say goig with or fading the market. again i've been trading for awhile off and on when i'm not working , but lately have made a real effort to get better.again thanks and i hope u will reply again,i really appreciate it weld1

Going with, I mean trading in the direction of the most recent price action (subjective). Fading the market, I mean trading opposite the most recent trading action ( subjective ).

The subjective part is because in trading markets you must deal with the multiple time frames issue. Continue to research, read , and ask questions and it will eventually make sense.

OddTrader · Apr 18, 2003

Possibly many/ most indicators were originally developed for long-term investment decisions!?

weld1 · Apr 18, 2003

iagain,thanks for the reply. if u know of any articles that pertain to these things please send them to me. u know, i think i am really close to getting at least part of it anyhow.HELP!!! thanks again weld1

dis · Apr 18, 2003

All indicators are indeed useless - except in the context of a trading system.

spreadem · Apr 18, 2003

All indicators are indeed useless - except in the context of a trading system.

And in a meaningful time frame.

axeman · Apr 18, 2003

BINGO.

peace

axeman

Quote from dis:

All indicators are indeed useless - except in the context of a trading system.

LongShot · Apr 18, 2003

Unfortunately, you're all just saying the same thing. (Why do traders always talk in metaphors, cliches and (false) analogies? it is quite annoying :-/)

But the truth is indicators are for those who can't really trade. For those who need a crutch to lean on. But we who do know well we would never use them. :-/

murray t turtle · Apr 21, 2003

Quote from Magna:

I agree, but that doesn't mean it isn't very useful to still watch indicators that everyone else is following (like the 50 or 200 period ma, fibs, etc.) The trick is not to use them like the herd....

Don't have [any ]indicators on my time & sales other than time & do not want any more indicators on them.

Time is an indicator .
.
Every little bit helps.

Water boils at 200 plus degrees & price above 200 plus period moving average is a sign of chart strength.

*******

''Bears live below 200 day moving average''-Alan Farley.

SimpleSimon · Apr 22, 2003

Quote from Magna:

I agree, but that doesn't mean it isn't very useful to still watch indicators that everyone else is following (like the 50 or 200 period ma, fibs, etc.) The trick is not to use them like the herd....

I was just wondering how you determine just what the so-called herd's position is . From where I sit, there is only a market tendency as it trades at certain price levels. My job is to exploit that tendency until it no longer exists.