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Blue Wave Trading

  #14 (permalink)

Bala, PA, USA
Trading Experience: Intermediate
Platform: NinjaTrader
Broker/Data: Mirus, IB
Favorite Futures: SPY, Oil, Euro
monpere's Avatar
Posts: 1,858 since Jul 2010
Thanks: 300 given, 3,321 received

vinceb View Post
when i was on tradestation i owned most of blue waves indicators. i have since then divorced them all and have used alot of the insightful tips and tools that are used right here on the forum. this has been my best year to date. i spent alot of money on indicators and all the stuff i bought i dont use anymore.

People, there's nothing wrong with indicators, the problem is most users are looking for an indicator to put on the chart and instantly get 95% winning blue arrows without understanding the indicator. I can go toe-to-toe with price action analysis with the best of them, but I choose purely indicator based trading, using the most common and free indicators you can find, RSI, and Stochastics. I exclusively trade divergence, let me see anyone trade divergence without an indicator, hehe

What you need to do is choose a small set of indicators, and learn them inside out, just like price action traders learn price patterns, indicator traders need to learn the behavior of their indicators. I have studied my indicators enough that I can look at the price action, and pretty much tell you what my indicators would look like during that price action. I don't analyze the market, and almost don't even need to look at price action, I trade indicator pictures, when my indicator gives me a certain picture, I don't hesitate to pull the trigger, because all the price action analysis is built in to that indicator pattern. You can trade very successfully and stress free with indicators, but you need to learn the behavior of your indicator(s) inside and out.

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