Indicators are useless

[lina06cn]

Why so many people try to use many kinds of indicators? After all they are useless. Indicatores based on price. When one wave comes, indicatores will cross again and again. If you take postion by cross between the wave, then you will get lose-cut. Only the last cross near the support or resistance will be useful.
So the point is find out important support and resistance.
The only useful trade methods will be pattern, trendline.

Anyone agree with me?

[Aicha225]

Hi,

I am Aicha Mustapha, I am interested in your profile.

[lina06cn]

Hi, Aicha. Thanks

[SoundFX]

I use to think as you. But I've found certain indicators quite useful for confirmation. Namely MACD. Also great for divergence, to give you a heads up of "possible" trend change. Divergence in the MACD can give you information you might not catch in the charts.

[FerruFx]

I agree that too many indicators on chart kill trading.

FerruFx

[sirch985]

I echo SoundFx's post. I apply the MACD indicator when making trade decisions.
I've found it to be very hepful.

-cheers

[lina06cn]

Originally Posted by SoundFX

I use to think as you. But I've found certain indicators quite useful for confirmation. Namely MACD. Also great for divergence, to give you a heads up of "possible" trend change. Divergence in the MACD can give you information you might not catch in the charts.

I used MACD's divergence before, and I discovered divergence can appear 2 times ,3 times same as dead cross& golden cross.
If you use 2nd or 3rd divergence of MACD, then winning chance goes up.

[screwlord]

Oh! sad to say that I'm not agree with you. The important thing when you use any indicator is your discipline. Follow it every time it show signal (need to know CONFIRMATION), and you will found you can make profit in the long run.