How can you possibly use CCI? I found it to be total garbage...
Best indicators ?????????????
- Thread starter Humpy
- Start date
BDIY- Long term but a leading indicator.
Currently, heading to the 5 year lows of 666.00...not being funny with that number.
Show's "Cargo" movement world wide.
BDIY is pointing to a "Depression" in the sense of lower shipping prices....which could feed upon itself and cause even lower "Prices" in "Items" world wide.
Prices are dropping world wide in many Consumer Goods and BDIY points towards even further drop and less movement among "Shipping".
NO RECOVERY IN SIGHT based on BDIY.
Take this as you will.
Currently, heading to the 5 year lows of 666.00...not being funny with that number.
Show's "Cargo" movement world wide.
BDIY is pointing to a "Depression" in the sense of lower shipping prices....which could feed upon itself and cause even lower "Prices" in "Items" world wide.
Prices are dropping world wide in many Consumer Goods and BDIY points towards even further drop and less movement among "Shipping".
NO RECOVERY IN SIGHT based on BDIY.
Take this as you will.
Quote from HATEtheRisk:
I am a succesful trader for 3 years now (means, i make constant money, more & more), after learning for 4 years.
I trade mainly FX + high volume commodites, like oil + gold + US Stock Indices, the other commodities and stocks i only analyse. I make good money minimum every 2 days, at least every week. I keep growing and growing, because i am real hard worker and i am born to trade.
I am short term trader, and there is no need to go longer.
I could trade every product, its just about how much TIME it needs to make money on a product and that depends on how much its traded. For me the quicker money is the better. I dont live forever.
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INDICATORS
I could not trade one single trade without indicators. I need tools that help me to analyse the price. WHY ? Because trading is a very difficult business to learn AND because the other pros use the indicators too, to make their decisions.
The problem of newbies and indicators is, that newbies think there is one or two indicators which make all the decisions for them. Thats WRONG.
Indicators are just tools to measure energies.
How i posted before, there are just 3 areas that count as indicators.
1. Price Indicators for Support & Resistance Levels
= Lines on the Chart
2. Osszilators for cycles analysis
= for Entry + Exit
3. different time frames
= for clear timing
+ Volume for Stocks + commodites. (not with CFDs)
(FX you dont get real Volume with a retail broker, only with a bigbank and access to the real market)
But if you trade high volume markets you dont need a volume indicator, you also see it by price action if there is enough volume.
You also could use LEVEL 2 access, especially for day trades.
but you dont need that. doesnt matter if you do trades that need 1 day or 1 week or 1 month or longer. Just trade there where is action.
Thats all.
What specific indicators u use for that, dosnt matter.
It all is based on price.
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So, what are the BEST INDICATORS.
The ones you worked out your strategies with, trust their signals, know their pro & contras. Study study study, price and indicators - correlations.
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Most indicators are the same
1. Lines on the Chart, they just give you support + resisent levels.
(for example = Moving Averages, Bollinger Bands, Trend Lines, Channels)
2. Osszilators, they just give you the cycle energy.
(for example = CCI, Stochastiks, ATR, MACD, RSI, momentum)
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Besides that, if you have decide to do esoteric trading, like W.D. Gann, and you have made a statistic to buy the Dow Jones Index always when there is a new full moon at the TitiCaca Lake or some other place, AND, it works, then do it. I wont its to difficult for me, i like it simple.
PEACE
very good post
PHEW
let's celebrate after 50 pages on this topic.
Imho there are 2 types of indicators - the trenders and the oscillators.
If their signals agree go for it ! but if they don't it is a lot trickier to decide which has got it right. Chart watching will gradually show you what to do and when.
So folks - when one has reached a stage of competence that brings the dosh rolling in - relax, sip your mint julip and pity those poor sods that haven't arrived yet.
QED
let's celebrate after 50 pages on this topic.
Imho there are 2 types of indicators - the trenders and the oscillators.
If their signals agree go for it ! but if they don't it is a lot trickier to decide which has got it right. Chart watching will gradually show you what to do and when.
So folks - when one has reached a stage of competence that brings the dosh rolling in - relax, sip your mint julip and pity those poor sods that haven't arrived yet.
QED
I use Jurik VEL or a Modified Squeeze Indicator that has a Gaussian filter for momentum and cycle detection. I use modified versions of ATR bands for trend direction all on Renko charts.
UP
I prefer "non-time" based candlesticks and Renko charts help to smooth out price based indicators since there is less price noise.
Here is the basics on Renko candlesticks;
http://www.investopedia.com/terms/r/renkochart.asp#axzz1uiLNPABB