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Old 11-19-2007, 12:24 AM
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Re: Trading Markets Without Indicators?

In the end, we are all using some sort of 'indicator' - whether that is the tape, candlesticks, trend lines, etc. The real question is HOW MANY indicators do you want/need on your charts?

There's no good answer really.

Here's a good example of what I am talking about - http://charts.dacharts.com/

Click through some of those and you'll see what I mean - some charts with so many indicators you can't even see the current price and some basic ones.

I think it's finding what fits for you. It's true that many new to trading rely to heavily on the indicators initially, but you still have to find your groove. For example, I love candlestick formations but I also know (b/c I've proven it to myself) that the lower the timeframe, the less reliable a candlestick formation is in and out itself. So, there needs to be something else, whatever that something else is to help filter those trades. There's no right answer here, but hopefully you get my point.

I know many books and sites out there would say indicators are useless but I think you could find something that works for you. In other words, if your goal is to make $100/day in the markets, I would bet you could eventually find an indicator(s) that could do that for you over time. Now whether you can stick with it during a drawdown is a different story.

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