I am a reformed system trader, used to have a whole heap o' indicators on all my charts.
Why is it that I have lately noticed a TON of these statements on boards, in rooms, in books, magazines, etc.?
I notice more people who say that they have traded for 10-15 years and finally chucked most, if not all, of their indicators and/or systems for pure price/volume.
Is it because after trading this long, you can just start to instinctively KNOW what is happening? I have not been trading years and years, but I am at the point where all I want is moving averages, candles and support/resistance.
I guess since it took a lot of people a long time to figure out, I am ahead of the game.
Dave
PS. i-g, not denigrating MACD or any other indicator, as I sometimes use them for confirmation, too, in iffy setups with great risk/reward. |
