They are not useless, you just need to find which ones work for you the best .People think that there are indicators that could make you profit easily, but the reality is that we are talking about a situation where it will take a while to get that done, and it is not that way and it is different.
I personally believe that we are going to end up with a situation that would be different, and I hope that it can get to a point where we could make our personalized versions. One indicator could work amazing for me, but terrible for you, and meanwhile another indicator could work amazing for you and bad for me. This means that you need to find what works for you the best and you could make a good strategy based on that one.
Topic: Are Technical Indicators useless? - page 5. (Read 769 times)
Hi everyone.
I've examined indicators for very long time. Especially if you are trading often, they would increase your winning possibilities.
While some months i've learned how to code Pine Script on Tradingview and backtest with it. But i can't get good results even if many combination of indicators.
When i look at past data manually, it works smoothly but this data retrospective and indicators can't drawn in future.
I wonder is there anyone who succeed on trading with indicator/combination of indicator/special strategy.
I'm open to discuss all ideas.
You would really be finding for yourself on the time that you would really be stepping your foot into this market on which you would be finding the relevance of these technical indicators on which you would really be I've examined indicators for very long time. Especially if you are trading often, they would increase your winning possibilities.
While some months i've learned how to code Pine Script on Tradingview and backtest with it. But i can't get good results even if many combination of indicators.
When i look at past data manually, it works smoothly but this data retrospective and indicators can't drawn in future. I wonder is there anyone who succeed on trading with indicator/combination of indicator/special strategy.
I'm open to discuss all ideas.
primarily be looking up for these things because you cant really be to draw out some analysis without the making use of these tools which i could say that it would really be that highly relevant for someone to learn up these things because you cant really be able to handle yourself within this market without knowing these things. You would really be needing for you to sustain and able to read up somehow on where prices could potentially go even though it wont really be that 100% precise but at least you do have the idea on where it could potentially go. I do agree on some sentiments that having no analysis when it comes to price predictions are really totally considered to be gambling.
It would be always suggested that you should be having that technical approach rather than on having nothing at all and also not all the time that this market could really be having some news
on which you could rely or depend on.
Indicators can increase the probability of making profit in trading, but it deos not 100% guarantee that if a trader use them to trade, that the trader would win. Indicators are just some things to know in trading but strategies is what that is most important.
If you have 100% money, use 10% or less to trade.
You can start a trade with averaging. If you win, you close the position. If you are losing, you will wait until your indicators tell you to increase the leverage. You can start a trade with 0.2x and increased it to 1x. That is averaging.
Averaging may still fail, you need to not let emotion to control you. Trade with the amount of money that you can afford to lose.
If you have 100% money, use 10% or less to trade.
You can start a trade with averaging. If you win, you close the position. If you are losing, you will wait until your indicators tell you to increase the leverage. You can start a trade with 0.2x and increased it to 1x. That is averaging.
Averaging may still fail, you need to not let emotion to control you. Trade with the amount of money that you can afford to lose.
Or i keep using Martingale strategy
Yes of course i dont expect %100 success rate. This method is good, but it requires a good amount of liquidation. Some point market will crashes deeply and liquidation would not be enough when it happens.
Actually i was looking for an algo-trade way with indicators. I don't know if we can determine drops with indicators, so we could be avoid from them with acceptable losses.
I have used do many indicators but what I know so far is that they can lag on real time basis. We can back it up with other tools that will make it unique.
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Using indicators to trade doesn't necessarily mean that your trade can be 100% successful; as long as the cryptocurrency market movement isn't dependent on those indicators, there's no way you can have a 100% win all the time. The cryptocurrency market is usually very dynamic. Using indicators to trade means you have a likely possibility of knowing the direction of the market, but it's not always accurate all the time. Even with the indicator, the predictions are not always correct because of the volatility and dynamic nature of cryptocurrency prices. Also, while trading, don't let yourself be controlled by your emotions; only trade when there is really a strong position to enter. Don't just trade because you want to try your luck, but because you want to make a profit, so don't take the risk of entering a trade that you are not very sure of.
I've examined indicators for very long time. Especially if you are trading often, they would increase your winning possibilities.
I wonder is there anyone who succeed on trading with indicator/combination of indicator/special strategy.
Indicators are tools which are essential for traders especially if you are a beginner, they help your strategy work when combined properly and applied where they should. Beginners usually trade in a mechanical pattern of trade hence the essentiality of indicators to keep them staying to their trade plans or models, some may want to combine several indicators while the others a few whichever is fine.
As a professional trader you will want to use few or more indicator based on your dynamics, this could be regular indicators provided by brokers or advanced indicators bought from elsewhere and installed on your chart, any of the indicators can be used and still achieve desired results, but this does not guarantee a 100% success in trading neither failure. With a proper combination of indicators or an indicator and a good strategy 80%-95% winning trades can be achieved consistently, but not all the time so always know there are good days and bad days in the life of a trader and there is no best strategy or indicators
Hi everyone.
I've examined indicators for very long time. Especially if you are trading often, they would increase your winning possibilities.
While some months i've learned how to code Pine Script on Tradingview and backtest with it. But i can't get good results even if many combination of indicators. When i look at past data manually, it works smoothly but this data retrospective and indicators can't drawn in future.
I wonder is there anyone who succeed on trading with indicator/combination of indicator/special strategy.
I'm open to discuss all ideas.
I've examined indicators for very long time. Especially if you are trading often, they would increase your winning possibilities.
While some months i've learned how to code Pine Script on Tradingview and backtest with it. But i can't get good results even if many combination of indicators.
When i look at past data manually, it works smoothly but this data retrospective and indicators can't drawn in future. I wonder is there anyone who succeed on trading with indicator/combination of indicator/special strategy.
I'm open to discuss all ideas.
No serious trader will claim that he is a successful trader without using indicators but the time matters a lot. Have you ever used an indicator in a bull run? You will find out that they are not as important as you think, they won't help a lot because many coins will be on a speedy mode at any news, more of fundamental than technical, this is why you need to play your game very well in bull run but in a bear market, you will need it more than anything because all the coins that pump during the bull run will all be down by that time, you need technical analysis to monitor the next move of the market.
Nevertheless, despite all your combinations, you should learn how to play trading with your mind and feelings. Whenever you see that the market is not favourable and your indicators say otherwise, you should follow your mind to avoid guilt later, reason is that indicators are not 100% trustworthy and they do lag, the market will have done what you expect before they show you any sign of move.
Agreed, beginning of 2020 i used algotrade that created with indicators. It amplified my gain relative to marketcap. The algorithms I used in the bull run gave terrible results when the market was flat or in a bearish period.
My conclusion for this experience, strategies should be dynamic not static. There should be a switch for strategies according to market direction bullish or bearish. So main strategy should be define to market situation and strategy that i use needs to change.
Hi everyone.
I've examined indicators for very long time. Especially if you are trading often, they would increase your winning possibilities.
While some months i've learned how to code Pine Script on Tradingview and backtest with it. But i can't get good results even if many combination of indicators. When i look at past data manually, it works smoothly but this data retrospective and indicators can't drawn in future.
I wonder is there anyone who succeed on trading with indicator/combination of indicator/special strategy.
I'm open to discuss all ideas.
I've examined indicators for very long time. Especially if you are trading often, they would increase your winning possibilities.
While some months i've learned how to code Pine Script on Tradingview and backtest with it. But i can't get good results even if many combination of indicators.
When i look at past data manually, it works smoothly but this data retrospective and indicators can't drawn in future. I wonder is there anyone who succeed on trading with indicator/combination of indicator/special strategy.
I'm open to discuss all ideas.
No serious trader will claim that he is a successful trader without using indicators but the time matters a lot. Have you ever used an indicator in a bull run? You will find out that they are not as important as you think, they won't help a lot because many coins will be on a speedy mode at any news, more of fundamental than technical, this is why you need to play your game very well in bull run but in a bear market, you will need it more than anything because all the coins that pump during the bull run will all be down by that time, you need technical analysis to monitor the next move of the market.
Nevertheless, despite all your combinations, you should learn how to play trading with your mind and feelings. Whenever you see that the market is not favourable and your indicators say otherwise, you should follow your mind to avoid guilt later, reason is that indicators are not 100% trustworthy and they do lag, the market will have done what you expect before they show you any sign of move.
Indicators can increase the probability of making profit in trading, but it deos not 100% guarantee that if a trader use them to trade, that the trader would win. Indicators are just some things to know in trading but strategies is what that is most important.
If you have 100% money, use 10% or less to trade.
You can start a trade with averaging. If you win, you close the position. If you are losing, you will wait until your indicators tell you to increase the leverage. You can start a trade with 0.2x and increased it to 1x. That is averaging.
Averaging may still fail, you need to not let emotion to control you. Trade with the amount of money that you can afford to lose.
If you have 100% money, use 10% or less to trade.
You can start a trade with averaging. If you win, you close the position. If you are losing, you will wait until your indicators tell you to increase the leverage. You can start a trade with 0.2x and increased it to 1x. That is averaging.
Averaging may still fail, you need to not let emotion to control you. Trade with the amount of money that you can afford to lose.
Or i keep using Martingale strategy
Yes of course i dont expect %100 success rate. This method is good, but it requires a good amount of liquidation. Some point market will crashes deeply and liquidation would not be enough when it happens.
Actually i was looking for an algo-trade way with indicators. I don't know if we can determine drops with indicators, so we could be avoid from them with acceptable losses.
While some months i've learned how to code Pine Script on Tradingview and backtest with it. But i can't get good results even if many combination of indicators. When i look at past data manually, it works smoothly but this data retrospective and indicators can't drawn in future.
So you backtest your trading method and it works better compared to recent trades, or did you manually test each indicator on past data? Which combination you've done so far? What are your order settings? Maybe people can help you better if we know the exact trading algorithm/settings that you use. Using too many indicators can give you extra trouble since some of them can be contradictory. When i look at past data manually, it works smoothly but this data retrospective and indicators can't drawn in future. That being said, you should not expect a consistent success rate if your data sources are not comparable. Like, if you compare the backtest to short-term trading, it is likely that the result would look horrible as mentioned above. CMIIW.
Actually i was looking for a backtest tool and then i found an algo-trade platform which includes free backtest tool. I had to set some basic strategy on this website's interface to test indicators.
A few type of strategy on my mind. One of them, buy when drops.
Let's start with simple one. When price down of BollingerBands(30,3,low) lower band then buy on 5 mins timeframe.
https://i.ibb.co/m5bcpp5/Screenshot-2023-09-13-at-11-29-38.png
So on interface i've set it like that.
https://i.ibb.co/phf92wv/Screenshot-2023-09-13-at-11-43-02.png
For exit, if price > SMA (middle line of BB) | %1 Stop-Loss | %0.5 Trailing Stop Loss activation and %0.3 Follow Distance | x10 leverage
Besides of backtest, there are live test (virtually). This is the results so far.
https://i.ibb.co/gWPc5gL/Screenshot-2023-09-13-at-11-47-24.png
%61 succsess rate, %0.1 average profit.
Trading is basically done with market analysis, so if you don’t do the basics and just trade along with the indicators then no one can save you from getting into losses.
No hasty trading because hasty trading is likely to put one in trouble. So you have to do analysis of what your indicators are telling you against the market and you watch different time frame too, candles are also good for a good understanding of the market. Basically you have to understand the market using simple indicators to analyze the market so that you can ride it easily. But jumping in without proper analysis, you can't be lucky all the time.
While some months i've learned how to code Pine Script on Tradingview and backtest with it. But i can't get good results even if many combination of indicators. When i look at past data manually, it works smoothly but this data retrospective and indicators can't drawn in future.
So you backtest your trading method and it works better compared to recent trades, or did you manually test each indicator on past data? Which combination you've done so far? What are your order settings? Maybe people can help you better if we know the exact trading algorithm/settings that you use. Using too many indicators can give you extra trouble since some of them can be contradictory. When i look at past data manually, it works smoothly but this data retrospective and indicators can't drawn in future. That being said, you should not expect a consistent success rate if your data sources are not comparable. Like, if you compare the backtest to short-term trading, it is likely that the result would look horrible as mentioned above. CMIIW.
Indicators can increase the probability of making profit in trading, but it deos not 100% guarantee that if a trader use them to trade, that the trader would win. Indicators are just some things to know in trading but strategies is what that is most important.
100% agree
This is the point of indicator and that is why it is called an indicator guys It only indicates a possibility and I do believe there is no indicator that 100% works all the time Basically what makes an indicator work is that people believe in it.
In my opinion.
Let's say there are 1000 people who that believe when ema 100 crosses above ema 200 is bullish or what we usually call the golden cross when there are a lot of people who believe it tends to bring the prices up. so when people do not believe it much or there is another thing the golden cross could actually fail.
Backtest is the best way to indicate how much win percentage that tells us how the indicator works.
If you think indicator useless or you scary to take the riks dont take futures trading or dont take trading at all
Trading is basically done with market analysis, so if you don’t do the basics and just trade along with the indicators then no one can save you from getting into losses.
No hasty trading because hasty trading is likely to put one in trouble. So you have to do analysis of what your indicators are telling you against the market and you watch different time frame too, candles are also good for a good understanding of the market. Basically you have to understand the market using simple indicators to analyze the market so that you can ride it easily. But jumping in without proper analysis, you can't be lucky all the time.
Hi everyone.
I've examined indicators for very long time. Especially if you are trading often, they would increase your winning possibilities.
While some months i've learned how to code Pine Script on Tradingview and backtest with it. But i can't get good results even if many combination of indicators. When i look at past data manually, it works smoothly but this data retrospective and indicators can't drawn in future.
I wonder is there anyone who succeed on trading with indicator/combination of indicator/special strategy.
I'm open to discuss all ideas.
Don't rely solely on indicators only when taking trading decisions because majority of those indicators lags, however you only needed one or two indicators probably Moving Averages for trend direction and RSI to determine if price had reached overbought or oversold region, candlestick patterns or formation itself is also a Technical indicator if properly studied, formation of the candlestick patterns and it Price Action around Demand and Supply zones or resistance and support zone will reveal if a price reversal is imminent, however it requires a lot studies to master it and avoid using many indicators because they would give conflicting signals. I've examined indicators for very long time. Especially if you are trading often, they would increase your winning possibilities.
While some months i've learned how to code Pine Script on Tradingview and backtest with it. But i can't get good results even if many combination of indicators.
When i look at past data manually, it works smoothly but this data retrospective and indicators can't drawn in future. I wonder is there anyone who succeed on trading with indicator/combination of indicator/special strategy.
I'm open to discuss all ideas.
Hi everyone.
I've examined indicators for very long time. Especially if you are trading often, they would increase your winning possibilities.
While some months i've learned how to code Pine Script on Tradingview and backtest with it. But i can't get good results even if many combination of indicators. When i look at past data manually, it works smoothly but this data retrospective and indicators can't drawn in future.
I wonder is there anyone who succeed on trading with indicator/combination of indicator/special strategy.
I'm open to discuss all ideas.
As the name implies, trading indicators are there to provide you with the necessary tool to making a better informed trading decisions, and this will increase you profit chances, and it helpful if you are good at a personal analysis of the indicators because, on some occasions, you may have to adjust some perimeters to set the tone since trading indicators doesn't guarantee 100% profits. I've examined indicators for very long time. Especially if you are trading often, they would increase your winning possibilities.
While some months i've learned how to code Pine Script on Tradingview and backtest with it. But i can't get good results even if many combination of indicators.
When i look at past data manually, it works smoothly but this data retrospective and indicators can't drawn in future. I wonder is there anyone who succeed on trading with indicator/combination of indicator/special strategy.
I'm open to discuss all ideas.
And as a matter of fact, trading indicators or signals may even be a trader dead trap if not properly and carefully handled and studied, so indicators are tools to be used in other to speculate the market properly before opening a position.
I tend to agree with all the comments above, in short, the market is unpredictable.
Technical indicators are just tools that you can use in trading and increase your chances of winning but it doesn't mean it gives you a full guarantee of making a profit. It is not useless, sometimes traders have a better result upon using this.
It would be good if you would mix it up the technical and fundamental indicators because sometimes the price can be predicted based on previous data as you've said. IMO, indicators can usually generate false signals, which might lead traders to make incorrect trading decisions, and crypto markets are often influenced by news, social media sentiment, and external events, which can override the signals generated by indicators.
Technical indicators are just tools that you can use in trading and increase your chances of winning but it doesn't mean it gives you a full guarantee of making a profit. It is not useless, sometimes traders have a better result upon using this.
It would be good if you would mix it up the technical and fundamental indicators because sometimes the price can be predicted based on previous data as you've said. IMO, indicators can usually generate false signals, which might lead traders to make incorrect trading decisions, and crypto markets are often influenced by news, social media sentiment, and external events, which can override the signals generated by indicators.
Not completely useless, but they can guide you how the market might move. Not 100% accurate, as we all know, suddenly the market can change the trend. Technical indicators are more like weather station tools, they can try to help predict how the weather might be based on the patterns and historical data, but the predictions are not always 100%
I use technical indicators mostly to help me with risk management. The goal is to stay longer in the game while making small profits. Not getting rich overnight.
I use technical indicators mostly to help me with risk management. The goal is to stay longer in the game while making small profits. Not getting rich overnight.
Indicators can be used as additional confluence of your strategy to increase it's probability. There are traders who only use one strategy such PA traders, Fib traders, and SNR traders. And also they are profitable. How much more if combined this all in one trade. However, you still have to backtest your strategy because it will not work immediately, we have to filter out what combination of strategy that will work. In this way, the chance of winning in trading will surely increase.
Not all, I say. Why? It was not because we used trading indicators we became successful or earned more, some did it but there are a lot of traders who fail as they don't know how to use it. It needs constant practice and trading experience, so if you are new to trading never think it will work effectively. Technical Indicators become useless if we never use it in the right way and much more if the user doesn't even know to trade itself. But if you have knowledge about it, this will increase the chance of earning.
Indicators can increase the probability of making profit in trading, but it deos not 100% guarantee that if a trader use them to trade, that the trader would win. Indicators are just some things to know in trading but strategies is what that is most important.
This. Some people think using technical analysis indicators means that your trades can end up being right with like 80-90% accuracy when done correctly, which is simply ludicrous. In reality, at most, probably a bump up of an extra 5-10% in terms of chances of being right. Doesn't sound that big of a bump, but that extra 5-10% win rate stretched out to hundreds of trades, that number suddenly becomes very relevant.
in some words on here mentioned on some posters above that if it was not really that useful at all then we wont really be seeing those things flooding around or been offered to be a tool.
5-10% profitable chance is already that good compared into having less or just basing up on doing actions without any basis.
On using up technical indicators then it would really basically be showing you some potential entries and exits on which you could really be able to utilize things if you do really have
that knowledge on how to make use of it. You would really be finding its worth on the time that you do step your foot into the trading field. Its not really that something
good to look at on which you are involving yourself in trading but doesnt have the learning and idea on what you should gonna do.
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