Hello Folks, I am trading on options on DAX and Hang Seng indexes. So far I see MACD and Ichomoku analysis giving a slight edge (I am using default settings). What indicators would you recommend esp for the DAX and Hang Seng indexes? Also please let me know setting changes I need to make to provide more accurate signals for Day Trading? Thanks Dave
Many will disagree, but better to learn charting better than you know your wife and kids then learn indicators. It is not what the indicator is supposed to do regarding price, I use indicators more of what they are not supposed to do regarding price. Otherwise you are trading like many use them and be eaten up by bigger fish waiting for the weak under financed day traders using tight stops. Many of my signals are centered around failures, risk is tighter and I can nail 3 ticks much easier and keep runners in hopes of larger profits. But scalping for me is consistent. Anything can give you an edge, it is how you view price and or indicators. But those who use many indicators shows they never learned how to trade pure price first. How hard is it to draw tremdlines?
@Handle123 Thanks for the insight. I sort of spent some time around understanding Price/Action, candlestick, support/resistance, etc... Is that what you meant by charting? If not, can you link me to where I start some reading. Thanks
That's part of it, also speed of price and degrees of slope, it is more of hands on than reading as much of my study has been self taught, read up on reverse divergence, trend lines, risk and how much time of being in a trade is too much time.