Entries are easy, making money has to do with exits.
I always find it useful (or confirm uselessness) to do these kind of studies when comparing indicators. If you can find any edge of one over the other, then great. Otherwise there is a lot of information here, and the feel good is that when they all signal together then the trade should work? ... really? The key is for how long and how much, and more importantly - when do you exit. The entry is not as important as the exit if you want to make money.
Less is definitely more, and if you had the price bars showing then all you really might need is just one other piece of information. Often you need to just make a choice as to what that information is: volume, speed, momentum, tick flow, etc etc.
So, once you get in using how many indicators float your boat, what would really make the difference is when you need to get out. If you follow the same indicators to get out, then you may find that your trading is just a continuous exercise in frustration. So, when using indicators keep in mind that something needs to help you know when the money is leaving the trade, and if you don't see it leaving, then your entries may be spot on but you will make no money.
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This is probably the most useful and spot on post I've read on this forum. I've tried going on too many indicators at this point and all of them can offer some semblence of an entry strategy....anyone with any sort of right brain pattern recognition can develop that.
Having said that, the ability to maximize winners and minimize losses is where the real differentiation in strategy performance lies. Or better said, there's really no magical indicator or edge out there that's going to allow you to get in on the same/similar signals and exit on same/signals....there's just too many people trading all the same stuff.....
I liken it to a berry patch....when one is found, it's just a matter of time before it's full of bears..., the real trick isn't being the bear that finds the patch....lots of bears do that....the real trick is being the bear that can carry the most berries back home.
It uses the MACDBB set to F5.S13.P13 or P20, 2 CCI Colors can use 14 and 6, but use 50 and 13 Use 2 charts a HTF and and entry chart. Only take the pull backs, adn CCI slings based onthe CCI 13 and 50. I make sure that I am in trend of the backgroud that in seen from the link, and I have price action in trend from the HTF chart. I am in this person room learning to trade the CL-http://tradermakers.com/
Hope this helps. BTW, I have found that the Volume pressure or the TVI offer no help....really the key is using the higher time frame to set your trend direction and timing on the entry chart. My goal is to limit the number of trades I take, and have a higher qualitity of setups. So far for the last 2 months, it has been the best so far.
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