Do We Need Indicators?

A person trading volume is trading using an indicator. A person looking at the order book is using an indicator.

 

The only traders who are trading without an indicator are traders that can move the market with their order or are long term dollar cost average random buyers. ----What arrogance here in this thread!

 

Indicators work best at displaying historical patterns. Many novice traders read a book and think they have found the goose that laid the golden egg. Sometimes there's egg and sometimes there isn't. But they don't count the latter...

 

%%
Lyle305; Yogi Baseball Bearra said he doesn't make predictions-especially about the future.LOL Its NOT a prediction, but some take profits based on 50 day moving average, when price keeps on gapping, gapping WAY above 50 dma, they use it as a leading indicator. NOT saying that is the best way to do it.Noticed some think futures are about the future??LOL

 

Like I said "indicators lag the markets". It's what you do with historical info that counts. The 50 dma is based on previous 50 days. It's traders perception for the following days. No one can predict the movement in the future accurately. A spin on Yogi Berra - Most may get it right, the other 50% be on the other side. Another, Yogi Berra says it again "The future ain’t what it used to be". He's such a futurist lol....

 

“The world is your oyster. It’s up to you to find the pearls” The Pursuit of Happyness

I am going to give "like" to one post i see here for very scheming reason

 

On your chart.

And yours only.

For the rest of us they "indicate" what price has already done.

Nonetheless don't include me in those who say indicators are of no use. They are useful within their limitations.

 

I said my results show otherwise. What I did not say is ... I can tell the future 100% of the time.

 

I agree and I don't use indicators.

Yet, the fact remains there are some traders that understand that "lagging aspect" and are able to use it to their advantage. Just keep in mind that their use of indicators isn't the only thing they're using. Thus, I suspect their profits may be due to other components of their trading plan (e.g. money management).

 

%%
Good pointsLYL305; 50 dma, 200 dma are a battle tested,good measure$.NOT a prediction, especially about the future.LOL