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How much money have you spent on indicators?
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View Poll Results: How much money have you spent on commercial indicators?
$0 (none because I use free ones only) 19 32.76%
$0 (none because I pirate commercial ones for free) 2 3.45%
Between $100 and $500 10 17.24%
Between $500 and $1000 6 10.34%
Between $1000 and $5000 10 17.24%
More than $5000 11 18.97%
Voters: 58. You may not vote on this poll

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How much money have you spent on indicators?

  #1 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,238 since Jun 2009
Thanks: 29,350 given, 83,220 received

How much money have you spent on indicators?

This is a poll, please select your answer above. Answers are private. If you wish to comment and elaborate please feel free to below.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
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  #2 (permalink)
 Vendor: www.innovative-trading-solutions-online.com 
Hartford, CT. USA
 
Futures Experience: Intermediate
Platform: NinjaTrader
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RJay's Avatar
 
Posts: 677 since Jun 2009
Thanks: 726 given, 740 received

Mike,

I have thought about purchasing indicators.

Its just that I want to be able to tweak them if I want. I need open code for that.

I have spent so much time developing my own stuff, that I now make my own versions of anything that looks interesting.

RJay

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  #3 (permalink)
Elite Member
MIAMI,FL
 
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sharky's Avatar
 
Posts: 1,060 since Jun 2009
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hey mike ive spent about 4000-5000 on indicators and they either never worked or i was to young of a trader to understand them,now i can trade with or without indicators so i think its just learning how to trade that worked for me...sharky

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  #4 (permalink)
Elite Member
Northern California
 
Futures Experience: Intermediate
Platform: Ninja Trader
Broker/Data: Amp Futures/ Zen-Fire
Favorite Futures: YM and CL
 
Jeff Castille's Avatar
 
Posts: 2,119 since Jun 2009
Thanks: 1,785 given, 3,279 received

Too much

Well.... I'm very sorry to say that I've spent $4,500.00 on indicators. And...... I don't use any of them any more !! Such a waste of money.

I remember John Carter saying " give me any indicator... shut me in a room for a couple of hours and I'll figure out how to make money with it"

Bottom line.... if you don't know how to trade there isn't an indicator in the world that will help you. It just takes time to learn the characteristics of the market. Most of the best traders I've talked to only use a couple of moving averages and maybe an one oscillator and a ADX. Real basic. Always more than just one time frame.

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  #5 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
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Posts: 46,238 since Jun 2009
Thanks: 29,350 given, 83,220 received

Thanks to everyone that voted.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

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  #6 (permalink)
Just starting out...
Prague
 
Futures Experience: Intermediate
Platform: NinjaTrader
 
Posts: 23 since Aug 2009
Thanks: 0 given, 3 received

I have only spent about a grand over 5 years only because I once got scammed by someone. I usually only will consider it if they have a trial and a money back refund I have got a few refunds because they lied about what it did. I be careful to do research and find out if anyone else got scammed and didn't receive the money back refund.But I got caught once. But this does not include custom programming I have paid for my own stuff I needed fixed.

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  #7 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,238 since Jun 2009
Thanks: 29,350 given, 83,220 received


gregor32 View Post
I have only spent about a grand over 5 years only because I once got scammed by someone. I usually only will consider it if they have a trial and a money back refund I have got a few refunds because they lied about what it did. I be careful to do research and find out if anyone else got scammed and didn't receive the money back refund.But I got caught once. But this does not include custom programming I have paid for my own stuff I needed fixed.

Sounds good to me. I also always insist on a trial. If there is no trial, then there is likely something wrong.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote
 
  #8 (permalink)
Big game hunter
NY
 
Futures Experience: Advanced
Platform: Esignal, MBT navigator
Favorite Futures: Currencies
 
Posts: 2,526 since Jun 2009
Thanks: 1,397 given, 2,570 received

I agree with Sharky , you could have an effective indicator but if you dont understand what you want from it and dont know how to trade at all - its useless .

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