All new traders want to trade intraday...It's super hard. If you can't trade on longer term charts, there is no way you can trade intraday. My two cents. It's far harder in the short term.
Indicators are very useful. I find it hard to believe that a trader can have a 90%+ accuracy rate while only trading using price action and SR. If you add volume to that then you might be onto something. The individual trader makes the indicator useful or useless. I trade intraday with an extremely high accuracy rate and yes, I use indicators and I'm proud of that..
Coca Cola doesn't give it's recipy for free either ... I am using a propietary combo of RSI and slow stoch on an index that's about as far as I am willing to go .... I have no idea if this combo will still work next year. I use a fixed target to get out and also two indicators (one osciclllator and one trendfollowing) whichever comes first. Sometimes I get two signals in one day, sometimes I get none. But I have diverted my focus to long trading swing/position trading on another index which on average should make me about 14.8% a year return on the monthly chart. Here I am using a trendfollowing indicator. My system is long at this point in time so I need an exitsignal and a new long signal to get me started. This seems to have worked for about 50 years or even 100 years on some indices. SO this system works on all indices but I have one preferred one. At this moment in time I am focusing on starting a new career. This last solution seems to fit my personality better. The only thing where I was really sure what's I was doing was in my options semi-market making / vol arbitrage in the DIA. But those days are gone. This was extremely mathematical. I used ideas from that to get my swing/position trading system.
new traders like this for the 'perceived safety' of 'no overnight risk'... newbies are afraid, so sleeping on cash sounds appealing.. but as everything else in trading... the comfortable things are bad for you
About Indicators being lagging.Is not that what you need for swing or longer term oops I forgot this thread is for day traders.Sorry.
To summarise, you are unable to show I am wrong because you are unwilling to reveal why and how you are right. So I guess we call this a draw and you go your way and I go mine.
time based data is lagging. so maybe the math of indicators is just waiting around on some arbitrary 5, 10, 15, 30, 60, 240, Daily etc. bar to close before it can make a proper calculation. indicators like history itself can be used to reveal confidence in the future. by taking a small sampling of data and adding it to "the now" you can achieve 75% confidence - enough to do well. am i making a case for indicators no i am making a case for timeless data.