What are the best 3 indicators?

[yasirdxb]

Originally Posted by KPcurrency

When there are "more" buyers than sellers, for whatever reason, PRICES WILL ADVANCE. . Conversly, when there are "more" sellers than buyers, for whatever reason, PRICES WILL DECLINE [/b] . So, how do you use that information: If you BUY when there are more buyers than sellers, YOU MAKE SOME MONEY. If you short sell when there are more sellers than buyers, [b]YOU MAKE SOME MONEY.

Note that, a price advance is not necessarily a sign of "more buyers". A few

buyers with more money can cause the same.unfortunately thats what is

happening most of the times. the majority is always late or in the wrong

side.

Yasir.

[Trader01]

Originally Posted by KPcurrency

I have to disagree. What the herd is doing is very important. You want to be following the herd. It is correct that they are wrong at tops and bottoms, but most things are. Plus, top and bottom picker become cotton pickers.

BE ON THE SIDE WITH THE MOST ENTHUSIASM to make money. Therefore, you want to be able to measure the enthusiasm of the Herd.


Therefore, in essence, as trend traders we are always.......RUNNING WITH THE HERD

It OK to disagree.

Bottom pickers, the good ones, get in early -- in Los Angeles however, they get laid. Elswhere they get smelly fingers!

Some further thoughts for clarification:

At bottoms the herd is excessively bearish, when in fact they ought to be bullish.

At tops they are excessively bullish when they ought to be bearish.

You never want to be following the herd for if you do so you will always miss timely entries and exits. Those who "RUN WITH THE HERD" get swallowed by crocs when the trend bends and the MORONS just keep going.

But observing what the herd is doing -- that is important. Not following, just observing to be able to gauge their emotion.

If the herd is generally always wrong, why then should one bother to observe what they're doing?

Because even though they get into the trend late they are responsible for the middle and latter stages of trend advancement -- the astute individual players have already been on board for quite some time; way before the middle part arrives.

The final stages of the trend -- when it starts getting frothy, is when the astute players get off the train.

The froth continues for quite some time still.

The trend then bends.

The herd, having discovered the new "truth" -- that this will go on forever, continues to stay on board.

As the trend has already bent and is hurtling in the opposite direction, the herd then proceeds to give all the gains back -- and then some!

They then wait for the next major turn and repeat the process, just as they've been doing for the last 75 million years.

Only lions, tigers, cheetah, leopards and Refco love the herd, for without it, they will cease to exist.

[newwave56]

Originally Posted by smiley33

Cajun,

My choice of indicators is:

- DMI and ADX curve interaction (Welles Wilder)
- Momentum
- Personal Judgement (can't beat that)


Been trading for a long time, but it was only very recently I understood (heard about it before) how the DMI is used and works. Suffice to say that this was the first time in technical analysis a concenpt worked for me.

Recommend you look at it - it has worked for me immensely well since I started using it.

PM me if you need directions

Care..
s33

I was just reading your comments for DMI. I am new as well to trading (6weeks). Please provide info regarding DMI details.

Thanks...

[PipCrawler]

My trades are based on support and resistance. i don't really use indicators, but the tools i use are: 50/100/200 SMA, channels, pivot points, and fibonacci retracement/extensions. I've found that the price of a pair will find resistance/support when some of these tools overlap and change direction. I've been trading with this for a while now and it seems to work well, unless there's a big news day like non-farm payroll or something like that.

[jmallx]

you might try woodies CCI
CCI6 and CCI14
http://www.woodiescciclub.com/start.htm

My rec to you is to trade the 5 min CCI in the direction of hourly or 4hrly

[surebet]

cci, cci, cci. Oh, and did I mention cci? Combine the 3 and have a nice buffet..

PFE if you have esignal and you get tick or better vol charts at or near fib numbers less than 100 (if your scalping the Euro) etc. (ditto for CCI)

[shaklfree]

I'm relatively new...but the simplest indicators are:

1) The High of the last hour of the Asia or London session
2) The Low of the last hour of the Asia or London session

Buy at the high, sell at the low, and close whenever you feel rich enough.

[shaklfree]

...oh, and one more indicator:

I'm learning that when you're in a profitable trade, don't look at the current price, look at where the last support was (if you're long) and resistance (if you're short). Beyond those are places to reverse your position.

My 3rd indicator would be price.