What are the best 3 indicators?

[Tapereader]

Originally Posted by J327

Always go with the herd. Like running with the bulls, just don't be the first one to fall or the last one to get out of the way. Also don't be the guy who shows up late, and tries to jump into the middle of the bulls like a fool. And Obviously, you certainly don't want to be running against the bull, we know what happens to these poor fellows. That's just my opinion, every trader have their own style. I just go with the flow and not to be greedy. Run ahead of the pack, and get the hell out of the way early.

Never go with the herd. The herd loses. Always go with the "deep pockets" or smart money. They are the ones that "make" the price probally 85% of the time or better.

[TraderABC]

Originally Posted by Tapereader

Never go with the herd. The herd loses. Always go with the "deep pockets" or smart money. They are the ones that "make" the price probally 85% of the time or better.

Hi TapeReader,

could you please:
a) explain how "deep pocket" (and who exactly are they?) make the price?
b) How do you know in which position do they sit?

[comingback]

Indicators are rubbish, but they are also good. Who cares. You are barking up the wrong tree. Making money trading has very little to do with indicators or analysis. Wake up guys. Think compounding, think MM.

[Tapereader]

Originally Posted by TraderABC

Hi TapeReader,

could you please:
a) explain how "deep pocket" (and who exactly are they?) make the price?
b) How do you know in which position do they sit?

Will get back as soon as I can. I have to go to a funeral.

[Tapereader]

Originally Posted by TraderABC

Hi TapeReader,

could you please:
a) explain how "deep pocket" (and who exactly are they?) make the price?
b) How do you know in which position do they sit?

Large professional traders, specialist, and others. You know if they are bearish or bullish by reading and interpreting bar chart in the time period under consideration. They leave their trail in the size of the spread, the open and close, and the volume the bar was made on. There are several rules one must learn and develop the skill to interpret a bar in it's context along with it's range..close..etc. I will give you an example:

VLO

Go the bigcharts and look at VLO. VLO but in October. What is the context? ans: trend starting to head down with distribution in the background. Some supply was dumped on the market in VLO on 10/4 indicated by a down bar with a low close. We see the decline on 10/5 on high volume, wide spread and a a weak close on 10/5. Wide spread = ease of movement of price. Heavy volume shows"smart money's" participation. Distribution in the background shows this a markdown phase begining. The low close indicates deep pockets have no desire to stop the slide down yet. Taken together all this indicates "smart money" selling and no desire to support it. Then on 10/6 more decline and then bottom on 10/6 with demand coming back in BEFORE the close which is indicated by the higher close on 10/6 all on VERY high volume. Smart money started supporting it indicated by the very high volume, large spread bar that closed high. If they didn't intend to support it most likely it would have closed on the low. The high close showed demand (because high vol) coming in. So 10/7 was an up bar as anticipated.

This is one example out of many. This type of tape reading is NOT looking for head and shoulders, triangles...flags..or any other patterns, It is simply interpreting the bar within the context in which it is found, taking note of the range, open, close, and correlating all that with the volume to determine the next PROBABLE move. Specific rules are followed. There is a rule for the above example. However, when a bar patterns fails to do what the rule indicates(and at times they do) then there are more rules to help you interpret the failure and what that means.

[Tapereader]

Originally Posted by fristman

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

For the most part news is already discounted in the price

[rshb1971]

4me the best 3 indicator's are:

1......macd (for checking divergence)
2......moving averages (for determining trend)
3......pivot points (for entry and exit points)

and if u use them in the right way you can make money in the 4x
at least thats what im told and from the book i bought

good luck 2 all of y'all

[HansB]

Originally Posted by Tapereader

Large professional traders, specialist, and others. You know if they are bearish or bullish by reading and interpreting bar chart in the time period under consideration. They leave their trail in the size of the spread, the open and close, and the volume the bar was made on. There are several rules one must learn and develop the skill to interpret a bar in it's context along with it's range..close..etc. I will give you an example:

VLO

Go the bigcharts and look at VLO. VLO but in October. What is the context? ans: trend starting to head down with distribution in the background. Some supply was dumped on the market in VLO on 10/4 indicated by a down bar with a low close. We see the decline on 10/5 on high volume, wide spread and a a weak close on 10/5. Wide spread = ease of movement of price. Heavy volume shows"smart money's" participation. Distribution in the background shows this a markdown phase begining. The low close indicates deep pockets have no desire to stop the slide down yet. Taken together all this indicates "smart money" selling and no desire to support it. Then on 10/6 more decline and then bottom on 10/6 with demand coming back in BEFORE the close which is indicated by the higher close on 10/6 all on VERY high volume. Smart money started supporting it indicated by the very high volume, large spread bar that closed high. If they didn't intend to support it most likely it would have closed on the low. The high close showed demand (because high vol) coming in. So 10/7 was an up bar as anticipated.

This is one example out of many. This type of tape reading is NOT looking for head and shoulders, triangles...flags..or any other patterns, It is simply interpreting the bar within the context in which it is found, taking note of the range, open, close, and correlating all that with the volume to determine the next PROBABLE move. Specific rules are followed. There is a rule for the above example. However, when a bar patterns fails to do what the rule indicates(and at times they do) then there are more rules to help you interpret the failure and what that means.

I remember tape reading when doing stocks. Can you get T&S for Forex from any chart service?