Indicators for beginners - Page 2
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  1. #11
    Join Date
    Jul 2015
    Location
    South Africa
    Posts
    60
    I tried a bunch of indicators and at one point my chart was littered with them.
    I gradually reduced it to just a 50EMA, 200SMA, RSI and a stochastic, then I stopped using the stochastic and stuck with the RSI, 50EMA and 200SMA
    Then I threw away the RSI and now I'm stuck with the 50EMA and 200SMA. I'm not sure how much longer they will last but they help me keep kind of a grasp on what's going on. (not about trend)

    Ultimately I think you should try a lot of indicators and spend time researching them and understanding when they work and when they don't work. It helped me figure a lot out.
    It's likely you'll reduced down to just a few or 1 or none.
    The education is great though.

  2. #12
    Join Date
    Mar 2017
    Posts
    17
    I think it is also depend on your strategy. Some strategies need in indicators, some don't. But definitely the can just confuse at the start.

  3. #13
    Join Date
    Aug 2015
    Location
    Singapore
    Posts
    97
    Haha I have too many.... Show photo is easiest n fastest. This is my trading platform. I love to hunt reverse tread. My ichimoku setting was teach by Lexys. Super useful... I'm stuck with it. LolName:  Screenshot_2017-03-21-23-24-54-54.jpg
Views: 0
Size:  43.9 KB

  4. #14
    Join Date
    Mar 2017
    Posts
    10
    Alanlim3 ,
    Oh my gosh, it looks really scaring

  5. #15
    Join Date
    Mar 2017
    Posts
    10
    Nyad55,

    Quote Originally Posted by Nyad55 View Post
    It's likely you'll reduced down to just a few or 1 or none.
    So, is it really necessary to spend time researching bunch of indicators to realise, that you don`t need any of them?) Or this experince is useful anyway?

  6. #16
    Join Date
    Jul 2013
    Posts
    2,510
    Quote Originally Posted by AbdulFani View Post
    is it really necessary to spend time researching bunch of indicators to realise, that you don`t need any of them?

    People vary.

    To be fair, some people spend a lot if time researching a bunch of indicators and find one or two good ones that do help them.

    "Different courses for different horses", as the saying goes.


    Quote Originally Posted by AbdulFani View Post
    Or this experince is useful anyway?

    Again, it is for some people; not for others.

    I don't use indicators now, but I still learnt some things from spending a long time learning about them, so I think the experience was at least "slightly useful" to me, anyway.

    I think that most people who trade without indicators have learned to use them in the past.

    Maybe some were unsuccessful and did better without them, with a different approach.

    It seems to me that one hears more often about people switching from indicators to price action than the other way round. My guess is that most people who switch from indicators to price action don't switch back, but I might be wrong.

    The "two approaches" are not mutually exclusive anyway. Many traders use indicators to determine an overall bias (for example, to identify trend) and then use price action for their entries and exits. This can definitely be a successful approach.

    Personally, I do better without indicators than I did with them, but there's no "right and wrong", with this issue. It's about what works best for you.

  7. #17
    Join Date
    Aug 2015
    Location
    Singapore
    Posts
    97
    The "two approaches" are not mutually exclusive anyway. Many traders use indicators to determine an overall bias (for example, to identify trend) and then use price action for their entries and exits. This can definitely be a successful approach.[/QUOTE]

    Yes agreed, I used to fully depending on indicator when I trade, when enter n exit also. But most of the time it turn out to be a bad trade. The indicator I have now is just for reference n over view. My main is ichimoku n Sar, when price is above ichimoku I look into sell, y i look into sell n not buy when price is above the cloud? Cos I'm hunting for price pullback. I hv try many many times, no matter how the price move it will pull back at certain point. How do I spot it? That where Sar come into the picture. When price touch the last Sar the last 2 Sar dot with form side by side. This mean the price strength is losing power. Pull back is coming. The nx candle the sar will b opps side. But b4 the opps side sar is form, and have to place my trade on the last sar. This is where the price action coming in in using heiken candle so price action is more easier to read than orginal Japanese candle, when the tail of the candle touch the sar n go higher, I will immediately place my trade on the last sar. Than u will see the price start to pull back slowly down. my tp depend on the price action itself. If strong I lg set the profit run for a while if not strong I close the trade mostly min is 5pips but I did set my tp is 15pips. Cos price pull back won't last long unless it v strong tread. If not it will go back up again. After that I will reverse back use same method for the uptrend. Cos the price is above the cloud taking more pips is higher chance. Cos I'm Scalping.

  8. #18
    Join Date
    Aug 2015
    Location
    Singapore
    Posts
    97
    By the way, can anyone teach mi how do I quote on only certain sentences only huh? I always do the wrong way.... I when ever quote is the whole paragraph..... Sad....... LOL

  9. #19
    Join Date
    Mar 2017
    Posts
    10
    Quote Originally Posted by lexys View Post

    It seems to me that one hears more often about people switching from indicators to price action than the other way round. My guess is that most people who switch from indicators to price action don't switch back, but I might be wrong.
    What means "price action"?) It`s just a sinonym of trading without indicators?

  10. #20
    Join Date
    Aug 2015
    Location
    Singapore
    Posts
    97
    Quote Originally Posted by AbdulFani View Post
    What means "price action"?) It`s just a sinonym of trading without indicators?
    That depends on individual trader, some traders read price action with help of indicator, and some only purely read price action on a naked chart without any indicator.

    Price action is the movement of a candle. Swing high or low. Big body long tail or small body is some of the movement of price action. For orginal Japanese candle there r alot of price action form.

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