Need advice

SonofYoda

Newbie
Messages
2
Likes
0
Hey, I've fairly new to trading in general (though not that much, I have dabbled in forex\cfd's for the year and have been quite sucsessful in the state of things) and am just wondering what indicators you guys reckon are the best to use? Also the best charting software that provides the widest range of indicators\drawing options.
 
What you have are the best indicators already. Stick with them and don't change. Otherwise you could end up like all the loosers who use the best indicators and still end up loosing. Then they go sign up with signalling services and loose some more. Then they take up 7k worth of training, and afterwards loosing their shirt. Instead of all of this, you are better off as you are.
 
There is no indicator best for all. One indicator may be best for one trader but there is no guarantee that same indicator will be best for others as well.
 
just wondering what indicators you guys reckon are the best to use? Also the best charting software that provides the widest range of indicators\drawing options.

I would say consistency is a big thing. By all means test indicators and combinations of different types of analysis but once you start to trade seriously, you should have a core set of methods you use to analyse the market which you rarely, if ever, abandon.

If you are susceptible to tinkering, software with the widest range of indicators is a bad thing. You start to try different things, look at the market from different angles, switch to a different indicator after every losing trade. If you do that you never have a good consistent grasp with what is going on. Find a couple of indicators that you are comfortable with - learn how they work, why they work, what they represent, where they are strong, where they are weak, and stick with them.

Personally I use candlesticks, moving averages, and lines (support/resistance/trend). I use the moving averages and trendlines to analyse trend, s/r lines and candlesticks for entries.

Good trading

Nigel
 
For me one of the best indicators are prices of the OTM ~ 0.25 delta put and call options. In case of put more expensive than respective calls this could mean that the big guns are buying downside protection so the price is more likely to go down ans vice versa for calls being more expensive.
The lifespan of the option being used as indicator may suggest the timeframe for the prediction i.e. if 1 month options are chosen this would mean that the prediction is valid for the same period.
 
He was asking for advice not stupid idiotic responses....??
Dbs first 2 points do constitute sound advice (it pains me to say), its of no surprise that they went over your head

I went 2-3 months before posting after reading the constant abuse of so called senior members to all and sundry.....
What will it take for another sabbatical?

Did you reach your 12.5%pa drawdown target yet? Haha.
 
What you have are the best indicators already. Stick with them and don't change. Otherwise you could end up like all the loosers who use the best indicators and still end up loosing. Then they go sign up with signalling services and loose some more. Then they take up 7k worth of training, and afterwards loosing their shirt. Instead of all of this, you are better off as you are.

:eek:
 
Hey, I've fairly new to trading in general (though not that much, I have dabbled in forex\cfd's for the year and have been quite sucsessful in the state of things) and am just wondering what indicators you guys reckon are the best to use? Also the best charting software that provides the widest range of indicators\drawing options.



The best indicators are


(1) Price

(2) Your bank balance

An alternative indicator is the degree of bowleggedness.
 
The best indicators are


(1) Price

(2) Your bank balance

An alternative indicator is the degree of bowleggedness.

(1) Agree

(2) Only an indication of how good/bad you are at trading and not anything to do with when to/not enter the market.
 
PnL wld indicate if you are exercising good management skills eg if it goes down, it only ever goes down in small increments (and hopefully not too frequently). But you shld know this real time anyway, and do smthg about it sharpish.

I think his post alludes to keeping it simple.
 
Top