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|From: Lionmaster (Rep: 6027) reply to Goods71||Date: 02/16/2009 15:40|
|Forum: Gurus Answer Questions - Msg #66||Thread #672505037 (Rec: 0) |
|Re: what are your favorite indicators? I like to use on balance volume and s...|
I generally don't trade the indexes or use macro indicators that much (point is they are rather useless). Index trading produces very little gains unless you are buying the futures in the options exchange, but the premiums paid is generally not worth the trade period, plus the fact that to predict macro type events to pinpoint accuracy is rather fruitless and generally no intelligence behind the trade).
I just like to follow the momentum indicators in sector or news related type trades. There you can do all the DD you want on a particular sector or stocks in that sector. There is more intelligence you can extra behind the existing movements as well as forecasting a little how the stock will perform in the near future. If a particular stock gets way ahead of itself, you can possibly short the stock, and go long another stock to hedge your trades. As always, there's no perfect forumulas, you just have to find those type of trades to suit your own personality and your likings. The best traders develop their style overtime and fine tune it as market dynamic changes which mean you have to pay attention daily.
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| Reply to Goods71 - Msg #59 - 02/15/2009 17:50|
Re: what are your favorite indicators? I like to use on balance volume and slow ...
Depends what type of trading you're doing. I generally keep an eye on the MACD and Volume. Glance at the Slow Stoch, RSI once in a while. Moving averages are always good to have.
There's no perfect set up. I found the more experience I got, the less indicators I used. The charts just tend to pop out at you. Mastering the Trade by John Carter is a great book for detailing exact set ups.
Hope this helps ~~
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