Technical Indicators???

When deciding upon indicators, it should be remembered that the vast majority of the various indicators available are essentially just price and volume information presented in a differant format. Therefore asking which indicators to use (or whether to use them at all) is like asking whether a car journey should be measured in miles or kilometres. You'll get a multitude of differant views because it's a subjective value judgement that each individual must make for themselves.


The best strategy in my opinion is to take one indicator you think may be useful and study it THOUROUGHLY. Only when you have a deep and complete understanding of exactly what an indicator is telling you can you assess whether it's of significant value to you or not. If you find yourself asking the advice of others about it then you probably won't be able to use it properly anyway.


What I'm saying essentially is that there are no shortcuts. One thing that all successful traders seem to have in common is that they develop there own systems based on their own unique understanding. That can only come from hard work and experience. One traders opinion of the value of any piece of information is of limited value to others because no two of us trade in an identical way.
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There is no 'you' that is experiencing the world, the world is experiencing itself and 'you' is part of the content of the experience.
Try to predict what will happen on the right hand edge of the chart.


Secondly you need to determine the timescales you are interested in the style of trader. Are you going to hold positions for seconds, minutes, days, weeks, months or years ?


Then decide on your style of trading - do you want to look for trends in the market and follow those ? Do you want to look for swings, predicting what the cycles are (possibily within longer term trends) ? Are you looking for breakouts ?
Don't use an indicator without really understanding how its formula works.

Cup & handle pattern