I dedicated nearly two years of my life to understanding and trading on technical indicators.
In fact, I’d call myself an “expert.”
No stone was left unturned. I used stochastics, MACD, parabolic SAR, Bollinger Bands, money flow, moving averages… even more exotic “predictors” like Fibonacci Retracements and the Gann Wheel.
I was so entrenched in my craft that I started developing my own indicators, which included other variables beyond price, time and volume.
With that in mind, here’s my final word on the matter…
Regrettably, you can’t trade on technical indicators alone.
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The market is a living, breathing entity that takes its cues from many other inputs, like, for example, policy decisions, earnings reports, geopolitical events, etc.
Don’t take that to mean technical indicators are useless, though.
They’re actually fantastic tools for gauging entry and exit points.
If they truly were the “be all, end all,” I’d have five homes and 17 cars by now, which I assure you I don’t.
Ahead of the tape,
Publisher, Wall Street Daily