Any Workable Indicator ?

heramone

New member
Hello Friends,

I have seen here too many scripts some of them don't work, some of them work against and some of them have a too narrow positive result. My question, does anyone as any indicator that really works? He or she uses that indicator every day to enter and exit the trade. Please help me with a reliable indicator script so that I can get the benefit every day with my trade. As long as it works 65%, I will be good with it. Please share if you have anything like that. Thank you so much.
 

Trader Raider

Well-known member
VIP
@heramone, an indicator should confirm your trading decision, not make it for you. To understand the kind of indicator you need to confirm your trading decision, you need to understand what kind of market day it is. Is it a range day or a strongly trending day? Is it a day full of chop when it's best to sit on your hands? Once you understand what kind of market day it is, you need to decide what strategy you wish to use. Then you can decide what kind of indicator will help to confirm your trading decisions.

If you're looking for a single indicator to work in all types of market movement and make decisions for you, I'm afraid you will be sorely disappointed. For example, today I used MACD to confirm when to jump back in to the downtrend. Yesterday I wanted something to help me confirm support/resistance, therefore I used a different indicator.

One of the most helpful things you can do you, if you are a new trader, is study a good price action book and spend time looking at a naked chart (no indicators) to get a feel for patterns in price movement.

Sorry if that isn't what you want to hear.
 

heramone

New member
I agree with you. One indicator can not work for all types of markets and all types of stock. Do you have an effective Mean Average reversal Indicator? I believe the reversal indicator works pretty well with any type of market.
 

codydog

Active member

I'll say something very un-popular here - 70% of retail traders lose money, 20% breakeven, of the remaining 10%, less than 1% make a living doing this. I'd be very suspect of ALL indicators esp the ones for sale. Think of it as the gold rush miners, mostly all lost money, the guys who made money ran the hardware store.

Of the 1% who make a living, most have significant institutional or trading experience from working for a big company and admit they've been lucky. For many people, simply buying low cost mutuals makes the most sense - unless this is a fun intellectual hobby for you, its a tough road, expensive with no guarantees.

If anyone promises you a winning indicator, ask them for three years of their 1040s to prove it.
 

heramone

New member
@Cody - Thanks for your comments. It is absolutely correct what you have said but remembers nothing easy and especially making money is not easy at all. Nowadays, there are many people do make money (maybe not a millionaire) but making a handsome amount. I believe in this technology era, we should have something that helps someway to make trade easy. I knew people have customized scanner and based on that own strategy and they make pretty good money. I do make good money as well but it is a hard way, looking for a little easier way.
 

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