What are the best 3 indicators?

[fairwind]

Hi folks,

Without going into all why's and wherefores I counted the indicators that were offered as the 'best three'. The the results are not that startling imho and I list only those that were counted twice or more. ( NB I did not make a very definitive count so please dont shoot me down. )

MACD, Price, Volatility (inc ATR) and time, all got 2 votes.
STO gets three (inc my vote)
MA's (inc exponential, simple etc) got 4 votes
The rest get only one vote (so far).

My offering was is CCI and STO. (Yes, I know these are both oscillators)

What conclusions can be derived from this? I am afraid I cant draw any, sorry!

[graemenash]

In terms of oscillators, I use CCI and OsMA (moving average oscillator). I have a few other things on my chart but those are the two I look to for trade signals.

[Medran]

Originally Posted by fairwind

Without going into all why's and wherefores I counted the indicators ...What conclusions can be derived from this? I am afraid I cant draw any, sorry!

Best conclusion is :-

It ain't what you use it's the way that you use them.

[forexmaveric]

Originally Posted by CajunFX
Hello All,

I am new to Forex (might explain what I am doing here) and in my readings to date I keep hearing the message "don't over anylize the market". The other message I keep getting is that a successful trader uses just 2 or 3 indicators. So my question here is...

If you could only use 3 indicators, what 3 would you use and why?

I am still learning and many things in life you cannot learn from books so all feedback is appreciated.

Regards,

CajunFX

I use simple moving average cross-over signals on long term charts. I use weekly & monthly charts. I use a 10 day sma & a 30 day sma. When the 10 day crosses over the 30 day (a buy signal). Im selling when the 30 sma is over the 10 day. Its very simple & simple is usually better to manage & make profits. However, no indicator works all of the time. They all fail in one way or another. After all, they are to a large degree lagging indicators & will always be behind the initial price moves. No one can tell the future (: & certainly not technical indicators. By the way I use the long charts because I trade only options on forex through the CME futures exchange. I specialize in selling deep out of the money euro fx options.
Good luck to ya!!

[bearprofits]

Pick 3?

None, None, None.

or

Price goes up, price goes down, price stays the same...... all indicators are made up from the following, only lagging.

Just a poor bears thoughts

[TraderABC]

Originally Posted by CajunFX

Hello All,

I am new to Forex (might explain what I am doing here) and in my readings to date I keep hearing the message "don't over anylize the market". The other message I keep getting is that a successful trader uses just 2 or 3 indicators. So my question here is...

If you could only use 3 indicators, what 3 would you use and why?

I am still learning and many things in life you cannot learn from books so all feedback is appreciated.

Regards,

CajunFX

Experience& intuition, market news & starting capital. Popular Indicators work very unreliably at best. You have no way of beating some Bank or a professional with dozens of computers by trying to rely purely on technicals... But it doesn't matter how many dozens of computers you have,
Head and experience beats them hands down.

My humble 2 cents, Canadian.

[fristman]

Originally Posted by Baruch

You don't need indictors. They are overrated. Just trade what you see - and hear (news).

Well, I wouldn't be so hard on the indicators, although I can't imagine trading without reading at least the latest news.

[foamgod]

I can't imagine myself without indicators -- imagine looking at a graph just as it. One would be more than half-blind!

For me, I will read the news after I have scanned the charts and initiated positions where applicable. News are... entertainment for me.