Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

gurujohn

Best of the Worst

Recommended Posts

I realize all TA indicators lag and I'm willing to accept that. I trade the ES.

 

I am looking for the best indicator for TradeStation, that will give me the highest probability of capturing 1 point from the trigger of the indicator. I know there are many indicators posted and written about on TL (let alone TS), but I look to the members here to drill down and give me the best of the worst, so to speak. Please include the eld download for TradeStation if you can.

 

Thanks to all and may you have great success!

Share this post


Link to post
Share on other sites

If you are just starting to learn, the best advice is to forget the indicators and learn to read charts from scratch. It is a hard road, but far more rewarding financially in the long run. If you get into a bad habit now of trying to use an indicator "crutch" it will lead to frustration and failure quickly.

 

Try looking around the forum to see what best suits you.

There is a nice Candlestick group/thread

or

Volume Spread Analysis as well

 

or other methods that assist you in learning to read the bars and what they tell you- far better than trying to take the lagging indicator route.

Sledge

Share this post


Link to post
Share on other sites

It'd be so nice wouldn't it - find an indicator that you can program that just cranks out 1 pt a trade like no tomorrow.

 

;)

 

You have a choice here:

1) Keep searching for this and spend a great deal of time and money

 

2) Spend that same time learning how to trade for yourself

 

Your money, your time, your decision.

Share this post


Link to post
Share on other sites

FWIW

 

I got rid of all of my "indicators" and just trade price and volume, trend, support and resistance. I was all tied up into moving averages for some time but after spending alot of time on this forum, reading material I got about the subject and applying it in real time I don't think I will go back to a squiggly. I am still learning, but since getting rid of all that stuff I have made more progress than ever.

 

Good luck,

Share this post


Link to post
Share on other sites

Any tips on defining support and resistance?

I paper trade the YM and use 2 tactics.

 

1) I do a weekly chart up with S&R based on the waves/cycles and what seem to be stumbling blocks, then put those into intraday charts to use as key levels.

 

2) I run the big gaps on intraday and bracket the levels just outside the gap that appear to have the most action.

 

I know some use WRB etc... I'm just gathering ideas since I too am dumping all but 1 indicator and getting in touch with the basics.

 

I'm very interested in what you guys have to say. :)

Share this post


Link to post
Share on other sites

I personally have no problems with indicators. However, you need to know what information you are looking to get out of one. Sit down and look at a chart on different time frames. Study the patterns you see, and learn how to read the story. After this has been completed and you understand what is going on, then you can think about using indicators to increase the speed and efficiency of mining data you have a specific purpose for. In my opinion you shouldn't have to look any further than some of you standard indicators such as a stoch or sma. Also, the concept of "lagging" doesn't really bother me for an experienced trader. I think some traders get caught up on using that as an attack against indicators. Just like anything, if used improperly you will get bad results. They key is to take account of multiple time frames and understand the different levels of possible support/resistance and supply/demand surrounding price at any given time.

 

Now a more direct answer to your question. If you are looking for pure momentum plays to squeak out a point or so (not taking into account RR) many traders just use standard indicators. Most will have at least one oscillator be it a Stoch or MACD. They will also usually have a few SMAs or EMAs up to take trades off of or to trade tight crosses. Of course I do not condone this type of trading without first knowing how to read the market. My main point is that I believe there is no overall "best" indicator out there. The closest you will get is the handful that everyone uses and talks about. When using indicators you shouldn't have to go any further than what's already in your platform.

Share this post


Link to post
Share on other sites

And to piggyback on what Hlm said, if you do use indicator(s), make sure to find ones that are dis-similar in what they are representing to you. In other words, you do not want or need to almost identical oscillators. Bollinger on Bollinger Bands talks about that in his book actually.

 

I realize, like hlm, that most consider indicators to be voo-doo or lagging, or whatever you want to call it, but they can be an aid to a trader looking for that one little vote of confidence.

The biggest concern you have to have when using any indicator is what does it look like when it fails (usually trend day or range day) and how will you shut it down when this happens.

Share this post


Link to post
Share on other sites

I wish there was something like that available. I would have used it along time ago on my search for great indicators. Now I use a few different indicators from time to time, and it changes depending on what market I'm using and the time frame. The simple reason I use them is to help confirm what I am looking at on a chart. I won't sell because I see an "overbought" (btw I hate that word) signal, nor will I buy on an "oversold" indicator. Instead, I will look for a signal to enter a trade WITHOUT the indicator, and the indicator is simply there to say, "James, once again you have proved to be a badass."

 

When you do decide to work with indicators - when you are past the holy grail stage - I suggest going over to http://www.stockcharts.com and playing around with what they have available. Use the MACD, stochastic, RSI, whatever and find one that fits your trading style and personality. You may walk away thinking you don't need one, and that's absolutely fine. But don't count on them doing you any favors ;)

Share this post


Link to post
Share on other sites
Guest forsearch
Well said gsx.

 

In addition to using stockcharts.com, you can get a monthly platform from OpenECry. There is a trial period after which there is a small monthly fee for the platform AND data.

 

Or just sign up again after the trial period for another account, as needed.

 

Customers of OEC can get this fee waived; if you ask nicely, I hear. :hmmmm:

Share this post


Link to post
Share on other sites
Or just sign up again after the trial period for another account, as needed.

 

Customers of OEC can get this fee waived; if you ask nicely, I hear. :hmmmm:

 

Big surprise, I mention OEC and here comes FS.

 

Yes, you can try to beat the system and create multiple accounts.

 

And yes, if you trade size (aka no piker accounts) you just might be able to get that sim account for free.

 

No surprise here, but FS has no idea what I am talking about. ;)

Share this post


Link to post
Share on other sites
Guest forsearch

 

No surprise here, but FS has no idea what I am talking about. ;)

 

Whatever you say, Brownie . . .:puke:

Share this post


Link to post
Share on other sites
Whatever you say, Brownie

 

Like I said, piker accounts need not apply for a free sim account.

 

rotfl.gif

 

I don't know why you want to keep bringing this up FS, but you seem to enjoy the fact that I point out time and time again that you must obviously be trading a whole $5,000 dollars in your account and can't qualify for a free sim account.

 

But hell, if you want to keep bringing it up, I'll be more than happy to point out what a piker you are.

 

laughing025.gif

Share this post


Link to post
Share on other sites

I appreciate your replies, but none are specific. Can't anyone, among all the Market Scientists here, post an eld for an indicator that has a high probability of capturing one ES point?

Share this post


Link to post
Share on other sites
I appreciate your replies, but none are specific. Can't anyone, among all the Market Scientists here, post an eld for an indicator that has a high probability of capturing one ES point?

 

Your use of "market scientists" as a jab seems to indicate to me you might just be trolling. :\ I'll play along for another round and we'll see where this goes.

 

You could enter at random and if your stops as well as your mind are conditioned right you could maybe catch a point quite often. There is no magic potion, the grail is in your mind and you just need to find what works for you. :)

Share this post


Link to post
Share on other sites
:\ There is a thread on this board with a bunch of eld's already there...

 

What more do you want?????

 

It's pretty clear to me we probably have a troll on our hands, what they want is what their parents didn't give them...ATTENTION! :o

 

I mean if you can't find .eld's on this site you really didn't try at all. :crap:

Share this post


Link to post
Share on other sites
Guest forsearch
I appreciate your replies, but none are specific. Can't anyone, among all the Market Scientists here, post an eld for an indicator that has a high probability of capturing one ES point?

 

Maybe Brownie can steer you in the right direction!

 

:crap:

Share this post


Link to post
Share on other sites

A random entry has a high probability of catching one point as long as you are prepared to risk enough to get it - a 20 point stop should make it a pretty high probability. If you are prepared to do a bit of data mining you could hone in on an entry that has statistical significance. Certain stuff has a tendency to happen at certain times. Stuff happens at previous days highs lows closes mid points. Its not hard to come up with a reasonably robust strategy to catch a point while only risking a similar amount. The first suggestions was the easy option.

Share this post


Link to post
Share on other sites

Not an eld but psuedo code

 

if time = 10:00am and last tick = up enter long else enter short.

if long and last = entry price + 1 close

if short and last = entry price - 1 close.

 

>>>>Insert stop logic here but realise that anything you put in will alter your very close to but not quite 100% expected wins.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Topics

  • Posts

    • Date: 11th July 2025.   Demand For Gold Rises As Trump Announces Tariffs!   Gold prices rose significantly throughout the week as investors took advantage of the 2.50% lower entry level. Investors also return to the safe-haven asset as the US trade policy continues to escalate. As a result, investors are taking a more dovish tone. The ‘risk-off’ appetite is also something which can be seen within the stock market. The NASDAQ on Thursday took a 0.90% dive within only 30 minutes.   Trade Tensions Escalate President Trump has been teasing with new tariffs throughout the week. However, the tariffs were confirmed on Thursday. A 35% tariff on Canadian imports starting August 1st, along with 50% tariffs on copper and goods from Brazil. Some experts are advising that Brazil has been specifically targeted due to its association with the BRICS.   However, the President has not directly associated the tariffs with BRICS yet. According to President Trump, Brazil is targeting US technology companies and carrying out a ‘witch hunt’against former Brazilian President Jair Bolsonaro, a close ally who is currently facing prosecution for allegedly attempting to overturn the 2022 Brazilian election.   Although Brazil is one of the largest and fastest-growing economies in the Americas, it is not the main concern for investors. Investors are more concerned about Tariffs on Canada. The White House said it will impose a 35% tariff on Canadian imports, effective August 1st, raised from the earlier 25% rate. This covers most goods, with exceptions under USMCA and exemptions for Canadian companies producing within the US.   It is also vital for investors to note that Canada is among the US;’s top 3 trading partners. The increase was justified by Trump citing issues like the trade deficit, Canada’s handling of fentanyl trafficking, and perceived unfair trade practices.   The President is also threatening new measures against the EU. These moves caused US and European stock futures to fall nearly 1%, while the Dollar rose and commodity prices saw small gains. However, the main benefactor was Silver and Gold, which are the two best-performing metals of the day.   How Will The Fed Impact Gold? The FOMC indicated that the number of members warming up to the idea of interest rate cuts is increasing. If the Fed takes a dovish tone, the price of Gold may further rise. In the meantime, the President pushing for a 3% rate cut sparked talk of a more dovish Fed nominee next year and raised worries about future inflation.   Meanwhile, jobless claims dropped for the fourth straight week, coming in better than expected and supporting the view that the labour market remains strong after last week’s solid payroll report. Markets still expect two rate cuts this year, but rate futures show most investors see no change at the next Fed meeting. Gold is expected to finish the week mostly flat.       Gold 15-Minute Chart     If the price of Gold increases above $3,337.50, buy signals are likely to materialise again. However, the price is currently retracing, meaning traders are likely to wait for regained momentum before entering further buy trades. According to HSBC, they expect an average price of $3,215 in 2025 (up from $3,015) and $3,125 in 2026, with projections showing a volatile range between $3,100 and $3,600   Key Takeaway Points: Gold Rises on Safe-Haven Demand. Gold gained as investors reacted to rising trade tensions and market volatility. Canada Tariffs Spark Concern. A 35% tariff on Canadian imports drew attention due to Canada’s key trade role. Fed Dovish Shift Supports Gold. Growing expectations of rate cuts and Trump’s push for a 3% cut boosted the gold outlook. Gold Eyes Breakout Above $3,337.5. Price is consolidating; a move above $3,337.50 could trigger new buy signals. Always trade with strict risk management. Your capital is the single most important aspect of your trading business.   Please note that times displayed based on local time zone and are from time of writing this report.   Click HERE to access the full HFM Economic calendar.   Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding of how markets work. Click HERE to register for FREE!   Click HERE to READ more Market news.   Michalis Efthymiou HFMarkets   Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in Leveraged Products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
    • Back in the early 2000s, Netflix mailed DVDs to subscribers.   It wasn’t sexy—but it was smart. No late fees. No driving to Blockbuster.   People subscribed because they were lazy. Investors bought the stock because they realized everyone else is lazy too.   Those who saw the future in that red envelope? They could’ve caught a 10,000%+ move.   Another story…   Back in the mid-2000s, Amazon launched Prime.   It wasn’t flashy—but it was fast.   Free two-day shipping. No minimums. No hassle.   People subscribed because they were impatient. Investors bought the stock because they realized everyone hates waiting.   Those who saw the future in that speedy little yellow button? They could’ve caught another 10,000%+ move.   Finally…   Back in 2011, Bitcoin was trading under $10.   It wasn’t regulated—but it worked.   No bank. No middleman. Just wallet to wallet.   People used it to send money. Investors bought it because they saw the potential.   Those who saw something glimmering in that strange orange coin? They could’ve caught a 100,000%+ move.   The people who made those calls weren’t fortune tellers. They just noticed something simple before others did.   A better way. A quiet shift. A small edge. An asymmetric bet.   The red envelope fixed late fees. The yellow button fixed waiting. The orange coin gave billions a choice.   Of course, these types of gains are rare. And they happen only once in a blue moon. That’s exactly why it’s important to notice when the conditions start to look familiar.   Not after the move. Not once it's on CNBC. But in the quiet build-up— before the surface breaks.   Enter the Blue Button Please read more here: https://altucherconfidential.com/posts/netflix-amazon-bitcoin-blue  Profits from free accurate cryptos signals: https://www.predictmag.com/ 
    • What These Attacks Look Like There are several ways you could get hacked. And the threats compound by the day.   Here’s a quick rundown:   Phishing: Fake emails from your “bank.” Click the link, give your password—game over.   Ransomware: Malware that locks your files and demands crypto. Pay up, or it’s gone.   DDoS: Overwhelm a website with traffic until it crashes. Like 10,000 bots blocking the door. Often used by nations.   Man-in-the-Middle: Hackers intercept your messages on public WiFi and read or change them.   Social Engineering: Hackers pose as IT or drop infected USB drives labeled “Payroll.”   You don’t need to be “important” to be a target.   You just need to be online.   What You Can Do (Without Buying a Bunker) You don’t have to be tech-savvy.   You just need to stop being low-hanging fruit.   Here’s how:   Use a YubiKey (physical passkey device) or Authenticator app – Ditch text message 2FA. SIM swaps are real. Hackers often have people on the inside at telecom companies.   Use a password manager (with Yubikey) – One unique password per account. Stop using your dog’s name.   Update your devices – Those annoying updates patch real security holes. Use them.   Back up your files – If ransomware hits, you don’t want your important documents held hostage.   Avoid public WiFi for sensitive stuff – Or use a VPN.   Think before you click – Emails that feel “urgent” are often fake. Go to the websites manually for confirmation.   Consider Starlink in case the internet goes down – I think it’s time for me to make the leap. Don’t Panic. Prepare. (Then Invest.)   I spent an hour in that basement bar reading about cyberattacks—and watching real-world systems fall apart like dominos.   The internet going down used to be an inconvenience. Now, it’s a warning.   Cyberwar isn’t coming. It’s here.   And the next time your internet goes out, it might not just be your router.   Don’t panic. Prepare.   And maybe keep a backup plan in your back pocket. Like a local basement bar with good bourbon—and working WiFi.   As usual, we’re on the lookout for more opportunities in cybersecurity. Stay tuned.   Author: Chris Campbell (AltucherConfidential) Profits from free accurate cryptos signals: https://www.predictmag.com/   
    • DUMBSHELL:  re the automation of corruption ---  200,000 "Science Papers" in academic journal database PubMed may have been AI-generated with errors, hallucinations and false sourcing 
    • Does any crypto exchanges get banned in your country? How's about other as Bybit, Kraken, MEXC, OKX?
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.