The reason I dont use any indicators

learner2007 · Sep 12, 2017

speedo said:
It's a matter of having a trade plan with clearly defined signals and trade management rules. If you can't recognize a signal within a second or two, it's too complicated IMO. For a day trader, there should be no analyzing....there is a signal or there isn't....if there is, take it and manage the trade according to the trade plan.

Yes, and as I can remember, I'm pretty sure I tried to make similar points to him. But maybe my power of persuasion wasn't good enough as I think he gave up trading. Sort of felt bad that I wasn't able to help him.

El OchoCinco · Sep 12, 2017

I don't use chopsticks

Just joining in on the thread of posting personal opinions that do not help other traders.

speedo · Sep 12, 2017

learner2007 said:
Yes, and as I can remember, I'm pretty sure I tried to make similar points to him. But maybe my power of persuasion wasn't good enough as I think he gave up trading. Sort of felt bad that I wasn't able to help him.

What is much more difficult to help with are the psychological issues. We all have had to find ways to deal with than bucket of worms.

learner2007 · Sep 12, 2017

speedo said:
What is much more difficult to help with are the psychological issues. We all have had to find ways to deal with than bucket of worms.

Right! Mine was breaking the habit of trying to find a way to trade every price movement under the sun. Took me a while to go from 10000 set ups in my plan to just 10!!

speedo · Sep 12, 2017

learner2007 said:
You should post more of them, and someday put all of them together in what I'm sure would be a best selling trading book!

I agree, Zela's posts are intelligent, well expressed and largely intended to help.

Scataphagos · Sep 12, 2017

Grantx said:
Im not saying that indicators are wrong, each to their own, all Im saying is that they confuse me more than they help me.

You just said a mouthful.

Indicators don't "always work"... they have limitations. Once you get a handle on that, they're useful.

Scataphagos · Sep 12, 2017

tommcginnis said:

Only South Park fans will get this reference.

Buy1Sell2 · Sep 12, 2017

Grantx said:
Im not saying that indicators are wrong, each to their own, all Im saying is that they confuse me more than they help me.

--Making my point thusly--

Grantx · Sep 12, 2017

Scataphagos said:
You just said a mouthful.

Indicators don't "always work"... they have limitations. Once you get a handle on that, they're useful.

Thats the point Im trying to make. Trading decisions using indicators is just as random as trading decisions without indicators. Why introduce another level of complexity into the equation?

Scataphagos · Sep 12, 2017

Grantx said:
Thats the point Im trying to make. Trading decisions using indicators is just as random as trading decisions without indicators. Why introduce another level of complexity into the equation?

The "best/good" signals from indicators are not random at all.

I could hand it to you, but not going to. (Wouldn't want you to be deprived if the glee in figuring it out for yourself.

)

Many noobs/rookies get the notion, "buy oversold, sell overbought"... then complain when it doesn't work out just right for them. It's not that simple. (If it were, all of us would be rich rather than just the astute.)