Do you use similar indicators?

Rambo35

Confirmed PaxForex Representative
Apr 22, 2013
909
13
32
Canada
I have seen so many charts where people add indicators which tell them the exact same thing. I trade essentially naked and focus on price action, but I have been shown so many charts where traders clutter it with indicators and often with a similar indicator which makes no sense to me at all.

Those who use indicators, please take the time to fully understand them before you create a trading strategy which incorporates them. Trading an asset based on an analysis you don’t understand only leads to losses.
 

AsiaDev

Trader
Mar 10, 2013
123
0
22
I use some common indicators like bollinger band . I do not use similar indicators .My efforts are to analyze market on self base so that I can find true position of the market.It remains good rather than depending on different indicators.to do trading without indicators.
 

xProphet

Active Trader
Jul 27, 2013
64
0
27
Occupying Wall Steet.
I have seen so many charts where people add indicators which tell them the exact same thing. I trade essentially naked and focus on price action, but I have been shown so many charts where traders clutter it with indicators and often with a similar indicator which makes no sense to me at all.

Those who use indicators, please take the time to fully understand them before you create a trading strategy which incorporates them. Trading an asset based on an analysis you don’t understand only leads to losses.
Templates; My indicators are broken down into categories and saved as templates thus allowing me to flip through them or completely clear them at a moment's notice. Get the benefits and lose the clutter. :cool:

This metaphor (I've changed it a bit) was said to be before i was introduced to the use of indicators. Your gas gauge alone cant tell how far your going to go nor can your speedometer. But if you combine your speedometer with your gas gauge and your MPG Historically then you know where your going, how fast your going to get there, and if have enough gas to get there.
 
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Rambo35

Confirmed PaxForex Representative
Apr 22, 2013
909
13
32
Canada
Templates; My indicators are broken down into categories and saved as templates thus allowing me to flip through them or completely clear them at a moment's notice. Get the benefits and lose the clutter. :cool:
Different templates are perfectly fine and yes they will remove the clutter. Unfortunately too many don't do that and cramp it all in one.
 

michael77

Trader
Aug 5, 2013
89
0
17
Dude, you need to understand that why we use indicator? Indicator actually give us lots of valuable information. It does not mean that you need to use all of them or you need to use all of them. As an example i can say that a scalper does not use the same indicators what a day trader does. I believe, you got my point!.
 

Rambo35

Confirmed PaxForex Representative
Apr 22, 2013
909
13
32
Canada
Dude, you need to understand that why we use indicator? Indicator actually give us lots of valuable information. It does not mean that you need to use all of them or you need to use all of them. As an example i can say that a scalper does not use the same indicators what a day trader does. I believe, you got my point!.
I am not sure who you called dude, but I am def not your dude. It also appears that you did not comprehend the thread (yet again) so the same ad vise I gave in a different thread applies: Read, understand and then contribute.
 

xProphet

Active Trader
Jul 27, 2013
64
0
27
Occupying Wall Steet.
Different templates are perfectly fine and yes they will remove the clutter. Unfortunately too many don't do that and cramp it all in one.
Too many traders? Yeah, when I first started my charts were difficult to read, but I quickly discovered templates. I think most, if not all, charting software has some form of templates. I think a higher Archy is much needed when your combining indicators.. (also using indicators for what their best at.)
Example: If RSI is showing divergences but MACD is not then I would assume that RSI is incorrect. (on strictly divergences)
 

BlindFA

Trader
Apr 29, 2013
41
0
17
It's amazing how many people are clogging their charts. I personally think they do it just to look cool & smart...
 

Rambo35

Confirmed PaxForex Representative
Apr 22, 2013
909
13
32
Canada
It's amazing how many people are clogging their charts. I personally think they do it just to look cool & smart...
Lol, I think you may be right.
 

hermawati

Banned
Jul 1, 2013
29
0
0
indonesia
I have seen so many charts where people add indicators which tell them the exact same thing. I trade essentially naked and focus on price action, but I have been shown so many charts where traders clutter it with indicators and often with a similar indicator which makes no sense to me at all.

Those who use indicators, please take the time to fully understand them before you create a trading strategy which incorporates them. Trading an asset based on an analysis you don’t understand only leads to losses.
I always use same indicators because it is work great for me..
I think that using naked chart is more danger, we can't forecast the price there..
In lite forex broker, i always use same indicators and trade using EA. it's work and make me gaining the dollars there..