Suggestion for best indicator to be used for trade and why
Hello Everyone,
I need your suggestions on the top 10 best indicators to be used for trading or binary. Please also suggest why you would like to use it.
Kindly, share references or code base link so I can also try it.
Please everyone suggest something and help me.
There are no "best" indicators! An indicator is only as good as the trader that knows how to us it!
Take a lesson from the "Turtle Strategy" story, where even when taught a profitable strategy, only a small percentage of the traders were profitable, even when every single one of them were taught the exact same strategy rules and applied to the exact same instruments.
It is the trader's skill and knowledge that makes them profitable, not the indicators!
Forum on trading, automated trading systems and testing trading strategies
Something Interesting to Read January 2014
Muhammad Syamil Bin Abdullah, 2014.01.20 08:06
The Complete TurtleTrader-Michael W. Covel
What happens when ordinary people are taught a system to make extraordinary money?
Richard Dennis made a fortune on Wall Street by investing according to a few simple rules. Convinced that great trading was a skill that could be taught to anyone, he made a bet with his partner and ran a classified ad in the Wall Street Journal looking for novices to train. His recruits, later known as the Turtles, had anything but traditional Wall Street backgrounds; they included a professional blackjack player, a pianist, and a fantasy game designer. By the time the experiment ended, Dennis had made a hundred million dollars from his Turtles and created one killer Wall Street legend.
In The Complete TurtleTrader, Michael W. Covel tells their riveting story with the first ever on-the-record interviews with individual Turtles. He shows how Dennis's rules worked—and can still work today—for any investor with the desire and commitment to learn from one of the greatest investing stories of all time.
There are no "best" indicators! An indicator is only as good as the trader that knows how to us it!
Take a lesson from the "Turtle Strategy" story, where even when taught a profitable strategy, only a small percentage of the traders were profitable, even when every single one of them were taught the exact same strategy rules and applied to the exact same instruments.
It is the trader's skill and knowledge that makes them profitable, not the indicators!
Thank you for your reply. I will surely read it. But sir this wasn't what I was expecting as a reply from the people here on Forum. Even if there are good indicators then kindly, refer them to me so I will try it out my way and even read some strategy from the book you referred.
Please let me know I am waiting.
Thank you for your reply. I will surely read it. But sir this wasn't what I was expecting as a reply from the people here on Forum. Even if there are good indicators then kindly, refer them to me so I will try it out my way and even read some strategy from the book you referred.
Please let me know I am waiting.
Thank you for your reply. I will surely read it. But sir this wasn't what I was expecting as a reply from the people here on Forum. Even if there are good indicators then kindly, refer them to me so I will try it out my way and even read some strategy from the book you referred.
Please let me know I am waiting.
I am curious! In your profile you classify yourself as a "Trade Analyst". Why do so many newbies want to create the impression that they are "professionals" at trading?
I was a newbie once, and during much of that time, even when I was already consistent, I classified myself as simply "dabbling" in trading.
I really don't understand this obsession that so many have of trying to appear more successful that one really is at trading!
Why? What advantage does it have? Don't you want to truely learn from others how to improve your odds?
Even today, where I already derive much of my income from my trading, I still don't feel comfortable in considering myself as a proper trader. I still feel my skills and knowledge are inadequate as a trader and need to learn more and improve myself!
Is that not what you desire too? Why misrepresent yourself?
I am curious! In your profile you classify yourself as a "Trade Analyst". Why do so many newbies want to create the impression that they are "professionals" at trading?
I was a newbie once, and during much of that time, even when I was already consistent, I classified myself as simply "dabbling" in trading.
I really don't understand this obsession that so many have of trying to appear more successful that one really is at trading!
Why? What advantage does it have? Don't you want to truely learn from others how to improve your odds?
Even today, where I already derive much of my income from my trading, I still don't feel comfortable in considering myself as a proper trader. I still feel my skills and knowledge are inadequate as a trader and need to learn more and improve myself!
Is that not what you desire too? Why misrepresent yourself?
Thank you for your reply again. Please do not tell me what I have to be or what I should be or what I should say or do. I know you are thinking I am a newbie and from my profile you assumed that "Trade Analyst" title is for show.
Please do not misinterpret anything unless you know the reality. Secondly, the question that I have asked here is not for the usage of mine. I have different concept altogether. I will reveal when it will be the right time.
Well, regarding the question that I have asked is for my own knowledge purpose what people are trying right now. Most of the time I have found people using indicators. Hence, thought of asking suggestion what they are purposely or non- purposely using the indicators for.
Its like a survey kinda stuff what I am attempting and asking people to contribute so that I will know. Then it will be an awesome stuff to tell regarding what I am attempting. But here I guess people just want to blame or sell there stuff instead of answering what is needed. What I expected is none here in the answers.
I appreciate the replies of the people here as they have given there precious time for replying to my thread. But I must also tell everyone that they have spent time for nothing. Even I didn't got what I was expecting and still looking for the genuine answers from the traders or the coders here.
Please everyone, read my question and if you have answers I would be gratified and will express my gratitude for the help.
I again want to explain that please let me know what you think regarding the usage of indicators and what indicators would you like to suggest if someone asks.
please let me know what you think regarding the usage of indicators and what indicators would you like to suggest
I think they are a surface nuisance.
The fact that people are suggesting strategy's in stead of indicators should tell you something.
You may be walking a dead end.
Now you tell me what are you looking for ?
Because i do not understand this, someone provides all you ever need, and you want something else, what are you looking for ?
I think they are a surface nuisance.
The fact that people are suggesting strategy's in stead of indicators should tell you something.
You may be walking a dead end.
As far as I could read, no one suggested strategies!
If you are referring to the "Turtle strategy" that I mentioned, it was not a suggestion but a reference to an occurrence that took place several decades ago and I used it to illustrate a point about the importance of a traders skill and knowledge, over the reliance on indicators and/or strategies.
Yes well that event looks more like a strategy then indicator.
But im just curious to see what Jeffer is looking for.
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Hello Everyone,
I need your suggestions on the top 10 best indicators to be used for trading or binary. Please also suggest why you would like to use it.
Kindly, share references or code base link so I can also try it.
Please everyone suggest something and help me.