Quote:
|
Originally Posted by CajunFX
Hello Maji,
Thank you for the reply. I am new and find that there are an abundance of indicators so would like to keep it simple while starting out.
Have you tweaked your indicators to your trading style or do you use the default that the platform provides? And if you do not mind, what do you look for in each indicator?
And yes I am in LA but not native. Originally from CA but moved to Lafayette when they shut down the work offshore CA in 1982.
|
Cajun,
I don't really use indicators to base my trading decision. I use price bars. I use ATR as a measurement of volatility to determine where I will place my stop loss. As for Moving Averages, I don't use them other than calculating the MA of range for determining ATR.
I am not a great fan of indicators, so I am sorry you won't get any help from me.
My advise to you will be to stop looking at indicators and start looking at the price chart itself. Look for support/resistance levels. It is a little fuzzy thing, but once you can train your eye to find those levels you will be doing good. Also, learn about money management and trader psychology. I still lack the last and that is the most important aspect of trading.
Good luck,
Maji