Does any1 out there trade their live account using just indicators, or is it not worth while without a good system?
indicators can form part of your system, but my advise take note of the trend direction and price action first,
All indicators lag, they are calculated upon the price action that has already take place - bare that in mind!
N
You answered your own question!
Yeah i just relised, as n_aftab mentioned earlier indicators make up your system. It can be just one indicator or a group.
Can I suggest a slightly different way of looking at it. What you are trying to do is to learn about price action and how it behaves. It behaves in a chaotic manner but with some discernible rhythms at times because of individual and crowd psychology. These patterns can be identified and traded - part of your ‘edge’. It is price action that is the principal target for traders. ALL indicators are derivatives and MOST are from price action. This is why they are usually lagging. Dont get too hung up on developing systems with dozens of indicators. If the judicious use of an indicator helps then so be it. Carefully read all posts by Tess if you want to understand more about price action, notice that the best systems have few indicators and dont commit ANY dollars to this endeavour until you are demonstrably ready to do so