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Strategies & Market Trends : Trading From Main Street.
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To: Brandon who wrote (179)6/7/2001 11:19:53 PM
From: Brandon   of 226
 
One mistake I see a good number of new and sometimes experianced traders make is the reliance on too many indicators. IMO a trader should focus first on price, as this is what we are trading. When you use any of the complex mathematical indicators you tend to get further and further away from true price, which is what you are trading. It is better to learn to interpret a few accurate price patterns than to rely too heavily on indicators. When you are comfortable with price patterns you can then move on to some of the classic indicators, MAs, MACD, Bollinger Bands, Stoch, ect. But always be careful that price is your primary indicator. A person using too many indicators can look at a chart and make it tell them anything they want it to.

Brandon
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