Day Trading Indicators – Top 10 Things to Look For

Share it with your friends Like

Thanks! Share it with your friends!

Close

”’►► http://ForexAutopilotSystem.org -”’ For those of us who were born without the ability to look at a trading chart and determine potential risk and success, indicators are our best friends. What is an indicator? In this article, an indicator can be simply defined as visual feedback displayed on a chart that is based on market analysis. I’ve found that best selection of indicators can be found at Indicator Warehouse. These indicators are specifically for NinjaTrader, a software trading platform that offers quite a few customizable ways to display trading information. Day Trading Indicators – Top 10 Things to Look For 1. Easy and quick installation and use – setting up an indicator should be hassle-free. Who wants to sit around and configure an indicator (or guess if it’s configured correctly) while the market could be having the best day it’s had all week? Also, check if the indicator is automated. The less you have to do, the better. As a trader, I know how difficult it can be just deciding to pull the trigger on a trade… 2. A reasonable price – since indicators are an investment, the indicator should pay for itself within a reasonable amount of time. This is of course subjective; only purchase what you can afford. 3. Customer support – how accessible is the support service? Is there any material out there or live support than can guide first time users? 4. Cross-platform support – do you also work with TradeStation? Will your indicator be supported? 5. Time-tested. Make sure the indicator has been available for a bit of time. Sure, it’s easy to program an indicator and sell it. It’s far more difficult to continue selling it after a couple of months (these things are filtered and removed). 6. Easy to read – let’s try an experiment here, visit Chart.ly and look at a few screenshots that other traders are posting. About 95% of the pictures posted to Chart.ly appear to be overly complicated and clutter the screen. Select an indicator that will save you screen space, and most importantly, …