Technical Indicators for Trading

[DesertRose 10]

Hi fellow traders,

I am a newbie to trading by technical indicators. I want help from you for identifying useful indicators which can be use for short term trading.

 

There are many of them but please let me know significance of them and based on your experience which are very useful and reliable.

[EasyTrader_I 10]

Hi DesertRose,

 

Welcome to the Trading World using Technical Indicators. As you said there are many.. Its all about how you use it. All the Indicators has worth. It's all about research using that indicator and finding its value.

 

But for sure, the Indicators will give you an idea where you can start building your own..

 

Good Luck in Trading

 

EasyTrader_I.

[Phil-n-Texas 10]

i saved this chart template as a reminder of seizure inducing indicator information overload...

 

i've found out that in most cases an indicator within the same family (oscillators, momentum, etc.) often tell the same story... it's just a matter of interpretting what it's telling you...

 

also, most indicators are all some variation of price, volume, and time... all are lagging so in a way it's yesterdays' news.

 

at the end of the day what really matters is being able to read the market and figure out where all the other traders are going or likely to go.

 

For many years now I've been using basic commonly used moving averages, volume with a moving average overlay and then monitor broader market information such as indexes, advance / decline, $TICK / $TRIN, Stochastics Momentum, and plotted pivot points.

 

Learn candlestick patterns, chart patterns, fibonacci, and multiple timeframe confluence, and good old fashioned trendline analysis...

 

all of this takes a considerable amount of screen time for it to become 2nd nature.

 

don't get wrapped around the axle trying to find the perfect indicator cuz it ain't out there.

 

enjoy the journey...