Hi, so I got interested in trading a couple of months ago after being disillusioned by the "buy and hold" fantasy. Haven’t made any real trades yet but I have been “backtesting” various technical indicators (stochs, RSI, ADX DI+/DI-, moving averages, CCI, money flow etc.) and also candlesticks. To be honest the results have made me a bit sceptical. To cut the story short, I generally found there doesn’t seem to be a definitive way to achieve consistent results with technical indicators alone. Also they tend to give a lot of false signals even WITH candlestick analysis, so that was a bit discouraging.
So my question is what techniques do professional traders actually use to achieve a relatively positive profit/loss ratio greater than 2:1? Is it just all luck? Does trend analysis using no indicators really have some merit to it? Or are they simply privy to insider knowledge us retail noobs can never get access to? :confused:
I’m mainly interested in daily and weekly trading btw.
Appreciate your thoughts.
So my question is what techniques do professional traders actually use to achieve a relatively positive profit/loss ratio greater than 2:1? Is it just all luck? Does trend analysis using no indicators really have some merit to it? Or are they simply privy to insider knowledge us retail noobs can never get access to? :confused:
I’m mainly interested in daily and weekly trading btw.
Appreciate your thoughts.
Reliability of technical indicators?
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