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i partially disagree
certain momemtum (velocity) and acceleration indicators lead price and
provide countertrend setups,
ie, indicator divergences with price. add pivots and intraday s&r to
help filter false signals and fake-outs.
i've been day trading s&p's for years and years like this.
TJ
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Bingo. My style too. This could be my S&P testimonial verbaetum with
the exception of the extended "and years" stuff.
You might be able to employ rocket science (non-gambling indicators)
in position trading with great success as some have and as I would too if
I had the mindset and the time to persue the knowledge of the techniques
required (currently calculus and physics impaired) but too many pieces of
the intra-day data puzzle are lost between sessions(my opinion only)
to apply scientific techniques to trades that wont be held overnite.
The mixed bag approach(my opinion only) applies to daytrading.
I use my gambling indicators Pierre-style but have not employed any
software specific to that task.
Admittedly, I have many scars from gambling indicators and I'm sure
I haven't caught my last wound but I agree with both Pierre and TJ in
their approach to managing them.
Gambling indicators. They're ugly. They're dangerous. Learn to
harness their benefits or don't use them.
dbs
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