I have come across many folks proficient at using indicators...after about 15 minutes they stop. The first issue with indicators is that you are trying to use a static equation for something as dynamic as price. Price is not governed by math...it's that simply.
Indicators
- Thread starter Lizard5980
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Contradiction? "Proficient at using it, but stopped after 15 minutes"? Perhaps you should stop talking... the more you speak, the less credible you sound.... no offense intended.
(I have a hard time arguing technical analysis with traders. They seem to be like arguing religion... and there is no winning an argument there.)
People... And the way they react.
I not a fan of aruging...However, I am open to learning or approaching something with an open mind. I always ask the same of someone else.
Consider this... you want to convince me that what I've used successfully for years "doesn't work". How do you expect me to respond? If it didn't work, I'd have quit using it years ago.
Also... do you know of George Lane? He's a guy from way back who for 40 years preached the benefits of and taught how to use the "Stochastic Oscillator" in trading commodities. He's famous. Legendary. Hall of Fame sort of legendary. Do you think he'd have had such a reputation and career if he'd been "full of crap"? The Stochastic Oscillator is one of the "range indicators" (%K, RSI, CCI and %R)... and it's a worthwhile tool if you understand how to read and play it.
There are multiple ways to make money in the market. If you or anyone has found a way...more power to everyone. Never trying to bring someone down.
I am just saying there is a much cleaner way to trade the markets, such as using price independent of indicators. (And more accurate) ha!
As a long time ETer, I hate to put you ON IGNORE (please don't take offense... I've put HUNDREDS of ETers on ignore over the years)... but you shown yourself to be strongly opinionated (and unfortunately wrong), closed minded.
I'm the wrong guy to disagree with on TA. If I defend some concept, I'm likely 100% correct. If I'm iffy about something, I'll state so.
LOL...maybe that is a contradiction? "Close minded" but if you don't agree with me...I will put you on ignore. All the best!!
An impossible question to answer without knowing what you are trying to accomplish.
Are you trying to follow the trend (up/down); trade sideways action (noise), trade reversions to the mean (statistical); trade gaps?
First guy I (Day)traded with used nothing but MACD, but only in a universe of the momo stocks of the day. One day I asked him why MACD and he proceeded to put about a half dozen other indicators. Know what? They all looked the same because they all measured the same thing, basically. He was just comfortable with MACD, but he could have traded with any of the others.
I don't use any indicators. I can tell from price action what the stocks is doing, and that's all an indicator does, only on delayed basis.