I should also say that most of my trades are in the 3 minute to 30 minute time range. I'm not sure what length of time frame you are looking at when asking the question about indicators.
They are pretty the same, anyway. The point is to learn one or two really well and not a whole bunch of them superficially.
=========================================== Moving averages help; especially with discretion. Price helps [$]; its near the top of my list. === ''Regard discretion''---Solomon,trader king
I like RSI or could just use moving averages? Either OK for me.[g] http://share.esignal.com/groupcontents.jsp?folder=Stochastics&picture=0904corv2.png&groupid=225
I'm very new at this, just started swing trading last week... I look for breakouts in conjunction with good volume and use the other two to confirm entry/exit points. Volume is key
My guess is the Stochastic, MACD and Bollinger Bands are probably the top choices for most short term traders. As far as combinations go, I'd say all of the above together make a pretty powerful technical chart. I like to look for Div/Conv setups with the Stochastic and the MACD, and resistance at the BB. Here's a chart... Hope this helps...
the 'squiggly line indicators' (rsi/macd/stochs) aren't as useful for my type of fast scalps, since too slow, it's the time & sales/tape patterns that I primarily use.... I like tape speed, volume, ADX/DMI, and 1-min candlestick patterns for open range breakouts ..
Great point! I love certain trades that I use by watching tape speed. Nothing you will ever learn in a book, just have to take the time watching and learning the behaviors of whatever you trade. For me I only trade the ES and I feel very comfortable with trades based on tape speed. I had about three quick +1.0 to +1.5 point trades out of twelve trades yesterday that I entered from watching tape speed. These trades were entered in the direction of my indicators trend but the tape speed was the signal for me to enter.