11-11-2021, 07:11 PM
(11-10-2021, 08:46 PM)fenders53 Wrote: So you prefer to consult the tea leaves? I am kidding. I often use a few indicators before I enter a trade. I am confident algos trigger on the major TA indicators. To some degree they are self fulfilling prophecy but the reason doesn't matter.
Ha! I'm not one to oppose a cup of tea, especially if it makes me money. I do rely on certain indicators as well. I rely on the MACD and RSI to help me find stocks with an upward momentum, but then rely on price action (the usual supports, resistances, up and downtrends, and the like) to determine if a trade should be opened. I do enjoy the trade, but definitely still in my early days. I like the idea of reversal trend trading, so I'm honing my skills in that area.