Hi guys, What is your strategy based on since all indicators are lagging indicators ? When you look for price action or volume, you are making assumptions - is that correct ? Thank you
Indicators are there to confirm what you already know. It is not there to predict what is likely to happen although, at times it seems that way. Even if you take away all the indicators, you can still trade using support and resistance, price action, candlesticks. Ergo, you do not need indicators to trade!
i try to use volume and spread.........there is lot of ambiguity in what is large volume and what is small or large spread...but get enough profitable scalps.....it takes some practice. there is software available -2000 usd- called trade guider seach gavin holmes vsa and you will find it. or get the book by Tom Williams 'master the markets'
indicators are there to measure what you already know. if you cannot measure it,you cannot manage it:Seykota
All indicators lag, but if you're trend-following, you necessarily must choose to use a lagging price formation or a lagging indicator - a trend-following entry can only lag the trend. If price isn't visibly moving in a trend, no indicator will help because they're all lagging, none predictive. You might say, "But I wish to trade reversals, and all indicators lag so how so they help me trade reversals?" Well that's just the point, you can't use indicators for something they're not built to do.
You are surely joking I hope ... Indicators can point to reversal points. But you will not be able to rely on a single indicator for that kind of stuff ...
check my 'trading is easy' thread... aside from lower stress lower commission lower effort more profit potential... the argument for doing long term trading is that you have more clarity on the price action because there is more supporting evidence for the story. intraday you only have price, so the success rate is lower.