All indicators useless?

Discussion in 'Technical Analysis' started by indahook, Apr 16, 2003.

  1. I am very curious to hear the opinion of more experienced traders than myself (over 2 years). Recently I have been trading simply using candlesticks to view price action and one indicator (TCI) which is very reactive to short term price action. The question I am posing is =

    Did your trading improve when you started to rely solely on the probobilities of your strategy and risk management as opposed to technical indicators?

    I have found my profitability on a per trade basis is slowly improving....and was really just curious if anybody else has similar experience.

  2. yes
  3. indahook,

    I think it depends on how you were using the indicators. They are not essential by any means and can be a hindrance, but they can also be helpful. Most likely, your better results just reflect the fact that you are getting better as you get more experience.
  4. IMO, yeah, you can trade with indicators or whatever else you want to use. if you find something and can make it work for you, WHO CARES WHAT IT IS...even if it doesn't make sense. look at surf and his gann wheel. i don't think it makes much sense, but if he can use it to make money, GOOD FOR HIM! if you want to use 20 indicators, 1 indicator, or no indicators...whatever works for you.

    that said, i do think trading can be reduced to price alone. but if you think you're better off using other stuff, so be it. the longer i trade, the less indicators i use.

    nobody should be making blanket statements when there are virtually limitless ways to trade.

    F. P.

    p.s. i'm so cool.
  5. Thank you to all replies so far, your opinions are highly valued.
  6. I don't even use volume any more. Just price action for intraday.

    The less stuff on my screen the better I trade.
  7. TG


    Been trading 35 years, price and volume all I use. Candlesticks for price. look at ERTS this AM, I think it's that simple.
  8. Magna

    Magna Administrator

    Yes, you are. :cool:
  9. I only trade SPY intraday and volume has never even been a consideration.

    "Been trading 35 years"....i`m not worthy...i`m not worthy!!!
  10. I think technical indicators just add more noise to already noisey environment. That being said, you can still use them and be successful if you have a deep understanding of exactly what they are measuring. Trading mostly boils down to support/resistance, expansion/contraction, and confirmation/failure. Understand this and you won't need indicator.
    #10     Apr 16, 2003