Back to the Basics… with NinjaTrader Indicators
Whether you are starting out in the trading game or a veteran trader, finding and honing the best technical analysis indicators is always important. Choose wisely and you’ve built a solid foundation for success in day trading. Choose poorly and predators will be lining up, ready to take you out at every turn.
Most novices follow the herd when building their first trading system, grabbing a stack of canned technical analysis indicators and stuffing as many as possible under the price bars of their favorite trading instruments. This “more is better” approach short-circuits quality signal production because it looks at the market from too many angles, at once. It’s ironic because indicators work best when they simplify analyze, cutting through the noise and providing usable output on trend, momentum, and timing.
Choosing the right NinjaTrader technical analysis indicators can be daunting. But, but it is doable if you focus on the “less is more” principle. Once you have your core set of indicators, then you can begin the process of tweaking inputs to match your trading styles and risk tolerance.
Erich did a great video on tweaking standard technical analysis indicators to improve your day trading results. His recommendations are solid points whether you are using standard NinjaTrader indicators or custom indicators from Indicator Warehouse.
If you’ve been disappointed with technical analysis indicators in the past, this video will restore your faith.
