trading without any indicators for daytrading?

Quote from mounafia:

seriously?

you really trade with nothing at all?
More...

Support and resistance is all I use. That would be in the forms of swing pivots in price, daily pivots, and a couple MA's as another form of S/R.
 
Before the pdt rule and when I first started day trading, I could make a living with a 2000 dollar account and using no technical indicators or resistance and support. In fact I didn't even have to look at a chart.

When I first started at ET, I explained how I did it on one of my first threads. Course it doesn't work anymore.

So forget about it. lol
:D
 
Quote from mounafia:

I am slowly giving up on all indicators to keep only support and resistance to do my day trading (and a Bollinger band for the volatility).

what are your thoughts?

Am I going in the good direction?
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Yes.

Simplistic indicator analogy, your standing on the street corner and two cars go by from left to right, one faster than the other. Do I need an "indicator" (radar gun) to tell which one is going faster, or in which general direction? Nope, I do need a radar gun or stop watch and a compass ("indicators") to tell HOW much faster one is over the other, the exact speeds of each and the exact direction.

The vast majority of readily available "indicators" don't indicate anything an experienced market observer can't already see on a naked chart. They simply put a number or value on it, but that's about it.

IOW do I need an indicator to tell me prices are rising, falling or flat? Do I need an indicator to tell me prices are moving steeply,shallow or flat? Do I need an indicator to tell me prices are rapidly gyrating all over the place?

I only need an "indicator" if I want to put some sort of a value or number on what really should be obvious otherwise. Almost all indicators only indicate what has already happened, NOT what is going to happen. A simple price chart also tells me what has already happened, without all the clutter.
 
Quote from Lucrum:

I only need an "indicator" if I want to put some sort of a value or number on what really should be obvious otherwise. Almost all indicators only indicate what has already happened, NOT what is going to happen. A simple price chart also tells me what has already happened, without all the clutter.
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That says it all.
 
Quote from Lucrum:

...Simplistic indicator analogy, your standing on the street corner and two cars go by from left to right, one faster than the other. Do I need an "indicator" (radar gun) to tell which one is going faster, or in which general direction? Nope, I do need a radar gun or stop watch and a compass ("indicators") to tell HOW much faster one is over the other, the exact speeds of each and the exact direction.

The vast majority of readily available "indicators" don't indicate anything an experienced market observer can't already see on a naked chart. They simply put a number or value on it, but that's about it.

IOW do I need an indicator to tell me prices are rising, falling or flat? Do I need an indicator to tell me prices are moving steeply,shallow or flat? Do I need an indicator to tell me prices are rapidly gyrating all over the place?

I only need an "indicator" if I want to put some sort of a value or number on what really should be obvious otherwise. Almost all indicators only indicate what has already happened, NOT what is going to happen. A simple price chart also tells me what has already happened, without all the clutter.
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For a crazy Republican, that is a remarkably observant post.

:D
 
the problem with indicators is, they dillute attention to candles, volume, support and resistence, and can contradict it

the above has no lag - indicators do
 
Quote from swtrader:

the problem with indicators is, they dillute attention to candles, volume, support and resistence, and can contradict it

the above has no lag - indicators do
More...

:cool:
 
The successful traders i have known do not use indicators. Its about feel and reading the market and correlations and laggard plays and pairs trading correlation discrepancies and playing oversold/overbought for retracement. I have never actually known a big time profitable trader that watches technical indicators and trades mainly off of those.
 
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