Parker writes:
you mention that it is better to have only a few indicators (2?) on your chart to trade. which indicators do you recommend when trading currencies, grains and index futures and which time frame(s) are you looking at, will one time frame have stronger signals than others?
It's likely that every beginning trader asks himself a similar question.
The answer is simple: I think you'll do better with fewer indicators. It's possible to become attached to having a lot of indicators on your charts, simply as a means of double- and triple-checking a trade idea. But with more indicators comes more complexity.
What works better in my opinion is when you sit down with just one or two indicators, one time frame, and just one financial instrument (like the GBP/JPY, or Wheat futures, or IBM stock) and you go back in time and learn, candle by candle, how the financial instrument reacts and interacts with the indicators you have plotted. Over time you can learn to use the indicators (just one or two) as a framework for understanding the market. The less you focus on, the more of an expert you become in what you actually do pay attention to.
