Parttimer I think your misunderstanding what Rams is saying. Ive done extensive research on indicators, Ive traded indicators, chart patterns, support and resistance lines. One thing I discovered about all of this: it doesnt matter what indicator you use. A coin flip is as good as a moving average or a stochastics overbought/oversold or a head and shoulders.
Van K Tharpe proved this a while ago as well using a coin flip and a dart board.
Most of them have about a 60-70% chance of being right, the coin flip about 50%.
At the end of the day risk management is all that its about, keeping your losses small.
Indicators are only useful to setup rules for mechanical traders, with my discretionary trades I have removed ALL indicators off my screen and I simply look at candles, 1 or 2 trend lines and then I enter on my gut. Stupid as you might call it, it has been more profitable than any system Ive ever traded and it works for me.
My Point simply being dont rely too much on indicators, they are not the holy grail of trading, it really just comes down to risk & reward (how much you risk on a trade and reward - when to take profit when you were right)
