How many indicators are on your charts? | Traders Hideout


futures.io - futures trading strategies, market news, trading charts and platforms


Traders Hideout


Discuss day trading practices and futures trading strategies on this forum for all markets. This forum is also for discussing and reviews for brokers, data feeds, and commercial or third party add-ons




 

How many indicators are on your charts?

  #71 (permalink)

Arnhem, The Netherlands
 
Trading Experience: Intermediate
Platform: NinjaTrader, Zorro
Broker/Data: RCG/Continuum, IB, Oanda
Favorite Futures: Futures: FDAX, GC, ES, CL also: FX, CFD, ETF
 
rlstreet's Avatar
 
Posts: 26 since Aug 2012
Thanks: 28 given, 22 received

Studies (Paul Slovic / Bernard Corrigan) have been done to check if more information leads to better decision making. The outcome of the study: the more information, no worse/better decisions/forecasts. But a boosted confidence by decision makers when more info available. This study was done in the field of horseracing.

If you apply these insights to trading then you could argue that the more cluttered the screens the more insecure the trader. I use 5 indicators, probably 2 entry, 2 exit and 1 for SR. My goal is to have 3 indicators as I trade on a very short timeframe. But to simplify is not that simple. When I drop a indicator I have the feeling that it would negatively influence my performance. Although I rationally know you can do without a couple.





Sent using the futures.io mobile app

Reply With Quote
The following 2 users say Thank You to rlstreet for this post: