EUREKA!!! YES... SOMEONE ELSE WHO HAS SEEN THE LIGHT!!!! If that was directed towards me....I truly hope I have...2 years of chopping around and finally some progress
<i> quote from TG</i> I looked at ERTS just before noon, what was price and volume suposed to tell me?
I looked at ERTS just before noon, what was price and volume suposed to tell me? I think he meant, support at the figure (also yesterdays close) with huge volume..after that I have no clue
All indicators are useless? This is an overgeneralization of the problem. What indicators with what parameters across what time frame? You mean you have tried every combination of every indicator and concluded that all derivations are useless? I cannot stress it enough; take the dive and learn to backtest your systems. Only then can you conclude whether your system has statistical validity.
"All indicators are useless? This is an overgeneralization of the problem. What indicators with what parameters across what time frame? You mean you have tried every combination of every indicator and concluded that all derivations are useless? I cannot stress it enough; take the dive and learn to backtest your systems. Only then can you conclude whether your system has statistical validity." Have backtested my strategy.Its based on price action alone. It has statistical validity, has made me money for the past 2 months...and for my style of trading every technical indicator I have tried is lagging....MA`s.STOCH,DMI,RSI.MACD,PAR sar,zigzag,RSI,CCI,p-vol,n-vol have been tried and are all useless..... I was simply trying to get other traders who have more experience than myself to contribute there input..and it seems to me (so far) that I am on the right track...and BTW its a question, not a "overgeneralization".
All indicators have a use and indicate something....it is how you can use that knowledge to your advantage. There are a million indicators that all can work. Trading well is an art more than a science. The art is designing the system that works for you. That said, my strategy works best when I follow it to the letter. And strategies need to be adjusted to the market every so often. Nothing works forever.
i think that technical indicators work well if you use them for what they are meant, and not as the "magic" tool that most inexperienced trader like to think that they are. different time frames can produce different results, even on the same indicator, so there's much to research and backtest before you can gauge which one works for your style of trading. profitability will tend to increase when (and only when) you take the emotion out of the trade and just trade it based on your objective strategy. too many times, your indicators are showing you what you want, but the trade that you enter is not what you "should have" done since you might have thought that the indicator was "not right" for that particular trade. i went to automation years ago and have never been more profitable. Pete