[Michael]

Hi everyone,

Are you choosing your indicators wisely?

[Soultrader]

Originally Posted by Michael »

Hi everyone,

Are you choosing your indicators wisely?

Yes... I use price, volume, and market profile. The rest is useless in my opinion.

[mister ed]

My car came with indicators, I didn't choose them.

I don't always use my indicators. I will often make a turn without them...then there's sometimes I indicate and don't even turn...I don't pay much attention to other drivers' use of indicators for these reasons, prefer to watch their actions and judge their intentions that way.

[Sam236]

Indicators simply use this data and display it differently by setting certain variables in relation to others or previous data. Today more than 150 indicators are available. Even indicators of indicators are also available. However, what ever may be the number of indicator you must remember that these indicators are mainly based on five variables. They are The Open, High, Low, Close and Volume of certain period.

Moving averages displaying the relationship between a series of closing prices over a period of time and Williams %R displaying High and Low to the close, are the examples of the indicators. It says that most indicators are just “skewing” the data contained in the bar or candlestick chart which display the “purest” form of data: The Open, High, Low and their close relationship to each other. I personally use a simply bar chart with volume information.

For further information visit: http://www.rockwelltrading.com

[thnickster]

Regarding indicators. I trade ER2, ES, and EUR. I have used practically every indicator invented..CCI, T-3, lsma..you name it. This is only my opinion..but in my ten years of experience trading these eminis..I have settled on 2 min charts for ES and EUR..and 3 min for ER (it is more volatile). My one indicator..yes..the commonplace MACD 12,26,9..and 5,3,5 (to get out of trades and show quick divergences). When the emini candles are at a peak or at the depths..I wait for the Fast Line regular 12,26,9 hook. As the hook verifies itself by remaining hooked on a price backup..I am in. Most times this is a scalp play..but if the 353 cuts through the zero line followed by the 12,26,9 fast line..the trend has changed and you stay in. I have found these trades to be above 90 percent for at least 3 pts on many contracts. All in all the safest way to play the eminis..expecially ER2 is to take 2 pts on a lot of contracts..unless you get the zl crosses I spoke of.

[MC]

Best indicator is your mind. This is the true holy grail and until this is developed into a trading machine all indicators will have you on a goose chase.

It's easy to find indicator crosses and even easy to develop a "system".
The hard part is in getting your mind to follow every signal and trust the system when your stop is a few ticks from being hit.

I know this as fact...still working on getting there myself though.