jacquesnz Posted July 19, 2009 Report Share Posted July 19, 2009 I have read in various publications that trading (at least making a success of it) is more about money management and the mental part of trading, rather than which indicator you use or which system you follow. I would like to know your thoughts on this? Are these guys then saying that one can pretty much make a success of this with ANY indicator...as long as you THINK / BELIEVE you will be successful at it? Heck - to me this is a little silly...ignorant almost. As first have the indicator working well in back testing and THEN make it work....at least THEN let it make you money. What do you think? Quote Link to comment Share on other sites More sharing options...
blitskriegs Posted July 19, 2009 Report Share Posted July 19, 2009 Re: How much of TRADING is really about the indicators?... i think...all of the indicator's always work with correctly,but it just a program tools and depend to our trading style,....the true indicator is in our brain :) Quote Link to comment Share on other sites More sharing options...
kateeus Posted July 20, 2009 Report Share Posted July 20, 2009 Re: How much of TRADING is really about the indicators?... Price is the best friend you can have. Quote Link to comment Share on other sites More sharing options...
aweha Posted July 21, 2009 Report Share Posted July 21, 2009 Re: How much of TRADING is really about the indicators?... For me, indicators can be the first signal, but we still need to confirm it with another indicator or using Price Action. NEVER believe 100% in indicator, only use it as an opening signal. Quote Link to comment Share on other sites More sharing options...
filotto Posted July 22, 2009 Report Share Posted July 22, 2009 Re: How much of TRADING is really about the indicators?... indicators + chart patterns are my solution Quote Link to comment Share on other sites More sharing options...
cowboy Posted July 24, 2009 Report Share Posted July 24, 2009 Re: How much of TRADING is really about the indicators?... None of them are perfect and also, you can trade without any indicators. The most important thing is you. How you do with self-discipline and money management. Just believe in yourself and own eyes. If I want say furthermore, stick with one or two system. Do not make yourself confuse and no more wishing hoping. :)>- Quote Link to comment Share on other sites More sharing options...
robinfly Posted July 25, 2009 Report Share Posted July 25, 2009 Re: How much of TRADING is really about the indicators?... Indicators help to built a confidence in yourself and in your trading strategies. Does not exist the "holy gray" indicator (al least I've never found out), good in every situation, but it exists some good tools that help you to survive. Quote Link to comment Share on other sites More sharing options...
dpgc Posted July 26, 2009 Report Share Posted July 26, 2009 Re: How much of TRADING is really about the indicators?... Indicators showoff nothing but market behavior at certain points. However market beavior is also driven by economic factors, which will influence you're day trading more than you might expect. Quote Link to comment Share on other sites More sharing options...
rawos Posted July 28, 2009 Report Share Posted July 28, 2009 Re: How much of TRADING is really about the indicators?... i agree, you must find a system which suits you, some would prefer many fancy indicator which shows volum, cci, gann ecc, others have fine trades using only a bunch of trendline and S&R Quote Link to comment Share on other sites More sharing options...
petera Posted July 28, 2009 Report Share Posted July 28, 2009 Re: How much of TRADING is really about the indicators?... I read something interesting by Van Tharp. Him and Tom Basso did a study where they basically flipped a coin to determine buy or sell. They did this I think over a few hundred trials and with the proper position sizing were able to make it profitable. So if money management can make a 50/50 system profitable, then imagine a system with a positive expectancy. That's why they say that position size is far more important than any indicator. Just use an entry that makes sense, be consistant, and use proper position size. Of course, we always love to look for the Holy Grail (when in fact it's money management). Peter Quote Link to comment Share on other sites More sharing options...
bl4ckw4t3r Posted July 28, 2009 Report Share Posted July 28, 2009 Re: How much of TRADING is really about the indicators?... Could not have said it better myself. I guess the "inner mind factor" that people talk about is controlling our natural human urges (greed, fear) and stick to a machine-like impartial operation. Add money management and you have a winner. Here's a link to add to the discussion: http://www.trading-naked.com/ Quote Link to comment Share on other sites More sharing options...
abba Posted July 28, 2009 Report Share Posted July 28, 2009 Re: How much of TRADING is really about the indicators?... Think of indicators as a visual aid to present price action in easier to decipher visual manner - however, that comes with a problem of lag - so best is to combine price action/patterns with a select few indicators chosen for your trading style Quote Link to comment Share on other sites More sharing options...
lipton1713006093 Posted July 28, 2009 Report Share Posted July 28, 2009 Re: How much of TRADING is really about the indicators?... I would say 20% indicators, 50% following the plan (mental) and 30% money mgt. Quote Link to comment Share on other sites More sharing options...
sebastian1713006095 Posted August 2, 2009 Report Share Posted August 2, 2009 Re: How much of TRADING is really about the indicators?... It's curious, I noticed in all the videos I saw from real traders all the charts I saw was only candlesticks, no indicators at all. I am talking about those guys who trade on trading rooms or offices with other people on their company, each with 3 - 6 screens and all that stuff, so it's pretty sure they trade for a living and they know what they are doing. With good money managment you could make tons of money with an average strategy, but that doesn't mean mm is easy. Quote Link to comment Share on other sites More sharing options...
franknf Posted August 3, 2009 Report Share Posted August 3, 2009 Re: How much of TRADING is really about the indicators?... Hi, I think that you have to astart somewhere and getting used to a few indicators will help with your trading style. Just try a few to see which suits you Quote Link to comment Share on other sites More sharing options...
ppc123 Posted August 3, 2009 Report Share Posted August 3, 2009 Re: How much of TRADING is really about the indicators?... For manual trading, the point is that you have to find correct long and short patterns familiar to you... I know quite a few people made their millions by just using simple indicators like moving averages or stochastics indicators... Quote Link to comment Share on other sites More sharing options...
sebastian1713006095 Posted August 3, 2009 Report Share Posted August 3, 2009 Re: How much of TRADING is really about the indicators?... Something I would highly recommend is not just to use a bunch of indicators and look the lines/colors, learn about the indicator you are going to use, learn how it works, the history, then it would be much easier to use it and more important you will understand much better the indicator's reading. Quote Link to comment Share on other sites More sharing options...
smartpoint Posted August 3, 2009 Report Share Posted August 3, 2009 Re: How much of TRADING is really about the indicators?... How much accurate for moving averages+stochastics+RSI ? Quote Link to comment Share on other sites More sharing options...
et_phonehome_2 Posted August 3, 2009 Report Share Posted August 3, 2009 Re: How much of TRADING is really about the indicators?... Indicators are just lagging, I believe its just for someone to confirm what the past has done to make a decision for the present conditions. When I started out, I had too many different indicators on different charts trying to confirm one another, it did not help, its just made me much more confused whether to take the trade or not. Even if you just use price action alone, keep it simple; I see some charts with all these lines drawn all over the place which would make one stay away from such techniques. The only thing one needs to plot is S&R and trend lines, and know the market direction on the higher timeframes. I believe that should be enough to get you started. If you look at it, most indicators give the same information but in a different view. If you must use indicators, keep it down to no more than two or three, anything beyond that is too much clutter. The fancy indicators or colors does not make for a better trader. I also think that some put too much analysis to determine where price will go; it's something I do not do - each have ones own style of trading. Use the KISS Method......... Quote Link to comment Share on other sites More sharing options...
salim Posted August 3, 2009 Report Share Posted August 3, 2009 Re: How much of TRADING is really about the indicators?... Some of you may be tempted to add more indicators or requirements to the system. Avoid that impulse. Adding too many indicators to a system actually weakens the effectiveness of the system because the indicators end up fighting with each other. This is called “indicator piling,” and it is a trap many fall into Quote Link to comment Share on other sites More sharing options...
salim Posted August 3, 2009 Report Share Posted August 3, 2009 Re: How much of TRADING is really about the indicators?... The rationale that leads investors to pile on additional indicators goes something like this Quote Link to comment Share on other sites More sharing options...
akhpp8395 Posted August 4, 2009 Report Share Posted August 4, 2009 Re: How much of TRADING is really about the indicators?... Is there any combination of basic indicators that you can use with good overall success Quote Link to comment Share on other sites More sharing options...
luka...18 Posted August 5, 2009 Report Share Posted August 5, 2009 Re: How much of TRADING is really about the indicators?... Never believe 100% in indicator . I use only chart, AT end PA. BR Luka Quote Link to comment Share on other sites More sharing options...
pvyas Posted August 6, 2009 Report Share Posted August 6, 2009 Re: How much of TRADING is really about the indicators?... Only use basic lagging indicators, combined leading indicators like fibs, pivots and support/resistance to formulate the direction of price. Never base your direction purely on indicators. Quote Link to comment Share on other sites More sharing options...
xbx Posted August 7, 2009 Report Share Posted August 7, 2009 Re: How much of TRADING is really about the indicators?... two MACD (one for shorter action , one for longer action) two or three MA (anytype that you feel good with it) trend direction in higher TF ok, just it. simple/good trading system that you can use in any TF and earn pips ! for example in 30 TF , with these simple indicators , you can eran 30 pips from each pairs daily , monitor 4 pairs and 100~120 pips daily . DO you know if you can get 100 pips daily you will be rich man in less than 3 years !!! :)>- Quote Link to comment Share on other sites More sharing options...
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