There are a myriad of discussion talking about the optimal set of indicators. Lets turn the table around... What is the worst indicator or sets of indicators? Personally, I think stochastic is the worse indicator unless you swing trade and fiddle with the parameters. latez
The worst indicator is any one you use without taking the time to get to know it, strengths and weaknesses, hoping that it's the Holy Grail. Other than that, a good trader can make use of just about any indicator, and a bad trader can lose with just about any indicator.
Its using the right indicator at the wrong time. Using a trend or breakout indicator when reversals and range bound trading is more appropriate and vice versa.
I agree, if you do not know how to use a indicator it is useless. The one that I think is becoming more useless is the ADX indicator. Because of the choppy market it takes to long before it registers a trend and by that time the market already has turned. I personally only trade off of support and resistance and use the indicators for confirmation. But, remember an indicator has to be used right for your style. Some people use a long term setting for a short term style ( and wonder why it does not work). Also lots of people get so into a indicator that they forget about what's creating the indicator (the price). I guess though that woodie cci chat use mainly the cci. So again it's knowing how to make it serve you.
Hi, Little nononsense has never found any indicator that was any good. However, if they would not exist, he would have to invent them. Be good, nononsense
It just happens to be the one I am using at any given time... (so I don't use them any more!) Best Natalie
Personally.....the one I never use is plain Stochastics. I know this is heresy. But it does not work for me at all.