As promised, would like to share my views / observations / experience with INDICATORS with multi timeframes. Ofc nothing is full proof, it just one of the ways to keep me in check if am going wrong, and helps me scale up if I find confirmatory signals
Happy to know your views.
Happy to know your views.
2. Though charts are preferred method to understand market, would like to give importance to data as well (OI built up, Option Chain, IV, PCR etc.) and series of indicators who act like GPS and help navigating around price movements. Making good trading decisions involves finding
3. right combination of confirming indicators that cut through the market noise. Trick is not to collapse under the information overload. No single indicator can tell the entire story, the goal is to integrate the information that indicators provide in order to make better
4. trading decisions. So, I use indicators that are grouped under trend & momentum, breadth, volatility and volume category. When combined, they reduce the clutter and present a multidimensional view of price behaviour to provide a complete picture. No matter how lagging the
5. indicators are, they do tell you a story. And I try to read that story and analyse it from multi timeframes. Different time frames may present opportunities when they have differing relative volatilities. Screen reading over the years have helped me taking better trading
6. decisions. As I am directional trader, I give more weight to momentum & trend indicators. That's how I built the ranking system. The main trading strategy is to look for agreement between these sub groups with different time frames. Convergence / Agreement is when I utilize
7. multiple indicators and trading tools so that I have multiple points of proof, about my expectation for what the market might do next. When multiple signs point to the same trading conclusion, I’ll be more confident in my trading decisions. When in disagreement I don't take a
8. trade. There are no guarantees, only probabilities. I use it in most time frames to identify breakout and retracement opportunities in trending markets. By the same token, it would not work well in markets that are range bound as it’s been made for trending market
