"truth About Indicators"
The one and only indicator that i will suggest is ATR.....
I use it to know if there is a breathing room for trade, and that is all!!!
Hey I need to learn how to use more indicators, I think I have the support and resistance down, but on a minute basis they don’t really apply. Are there any especially for this
Well guess I am the lazy one, I trade part time avg 300 per day using indicators, I trade the trends do not leave my trading strategy and trade on the 30 min chart... I am sure i miss a better entry and exit but I wouldnt say that indicators dont work... Any way new to this Forum not selling anything I did enjoy your post and all the information on here.. Have a great day
Kerry
I use Indicators and execute trades with pinpoint accuracy at exact reversal points. I swing trade with a stoploss of 40pips-60pips (for 4H and Daily Charts). So, I think this thing about indicators can't be fully rulled out.Don't get me wrong, I sometimes get stopped out but with a stoploss of 40pips- 50pips and a target rangin from 100pips to 600pips or more.....What do u think? I think thats pinpoint accuracy.U need a very tight trading strategy backed by indicators to do xactly that. N a little of human judgement.
I use Indicators and execute trades with pinpoint accuracy at exact reversal points. I swing trade with a stoploss of 40pips-60pips (for 4H and Daily Charts). So, I think this thing about indicators can't be fully rulled out.Don't get me wrong, I sometimes get stopped out but with a stoploss of 40pips- 50pips and a target rangin from 100pips to 600pips or more.....What do u think? I think thats pinpoint accuracy.U need a very tight trading strategy backed by indicators to do xactly that. N a little of human judgement.
Agreed 100%. You have to laugh reading some of the moronic comments regarding indicators. I can trade with em, or without them, makes no difference at all, they just make the obvious that much clearer
zupcon, DSP doesnt lie.
As you say, you can trade with or without them, and it makes no difference.
All of pro traders use price action as their main strategy, and there is a reason for that!!!
You can use a coin flip for trading....it is a good indicator too
You have been brainwashed
As I have come to understand there are many indicators and they have told me that each trader has their own technique and will relay more on a specific indicator. So my advice is to go with the flow. Use the one you fell comfortable with.
Overusage of indicators is stresfull!!!
zupcon, DSP doesnt lie. As you say, you can trade with or without them, and it makes no difference. All of pro traders use price action as their main strategy, and there is a reason for that!!! You can use a coin flip for trading....it is a good indicator too
You have been brainwashed
If your looking for something to predict market direction, then I agree a coin flip is a perfectly good choice of indicator, and I know of no other indicator that beats it. Better still, and even less hassle, pick a direction and only ever trade in that direction and forget all about trying to predict direction, life becomes so much easier.
Using indicators to predict market direction is a mugs game. Once people understand and accept that, there's just the slightest chance they'll start to understand how and why indicators can be useful
I dont think I've been brainwashed, I spent a fair few years crunching data before I drew the conclusions that I arrived at 
Technical analysis parameters follow the idea that securities move according to very predictable trends and patterns.
However, technical analysis is a terrific tool, but most traders agree it is much more effective when it's used in combination with fundamental analysis.
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In this thread I will talk about why indicators should not be used to base trades on. I will discuss the reasons that they are not a reliable trading tool.
I tried every indicator out there. When I threw them all out the window and focused on price action, that is when my trading turned around. I now get over 10% per month consistently, and I have done so for the last 4 months.
Trading systems based on indicators alone is how con artists extract money from wannabe traders. This is not an opinion, it is a fact. Believe it or learn it the hard way like I did.
This is not to say that indicators have no value. They are wonderful for quickly summarizing what has happened in the past. I use MA's just for that purpose. But all my entries and exits are based soley on price action tempered by fundamentals.
I'd also like to add that elliot waves are one of the biggest jokes (or slaps in the face, depends on your preference) to ever be brought into technical analysis.I have not yet been able to identify a clear cycle in any type of instrument i tested, currency, stock etc. this can be easily assessed by calculating and plotting a power spectrum via either fourier transforms, wavelets or other methods.i pretty much get almost flat power spectrum graphs for anything i tested, which means no clearly indentifiable cycle.
of course, this would require some DSP knowledge, something which i have to assume most traders don't have, otherwise there wouldn't be so much fuss about technical indicators which are mostly digital filters of different sorts that many either don't know how to use properly, or that are completely worthless to begin with and not worth bothering with.
I really wish people would stop being lazy and instead of either choosing to blindly fall into the trap of a skilled conference presenter or continue to whine about how an indicator does not "work", they'd start studying some real science, like math, statistics and apply that to trading.