Reliability of technical indicators for day trading

#1
Hello traders. I have one simple question.

As a day trader, is it OK to use technical indicators if they are giving good results in backtesting? I'm applying my strategies to NIFTY50 stocks only.
What other tools should I use that would improve my efficiency as a day trader?
I have backtested my strategies and they are giving good results. I've even paper traded and everything is going fine.
I'm only asking because everyone keeps saying that indicators are lagging and hence useless. But I think they are more reliable than the leading ones. I find them extremely useful especially for avoiding bad decisions.
Is there something else I should consider if I'm getting encouraging results in paper trading?
 

newtrader101

Well-Known Member
#2
Indicators (like pullback to MA, Bollinger bandwidth, Super trend,Candlesticks) work roughly 75% of the time. Its the failing 25% that sinks people's belief. If it worked all the time, then trading would've been a cake walk. Also they don't manage the risk. So the 25% breaks them.
Besides indicators, a trader needs to develop some qualities like strength of mind, own conviction etc.
 
#3
Indicators (like pullback to MA, Bollinger bandwidth, Super trend,Candlesticks) work roughly 75% of the time. Its the failing 25% that sinks people's belief. If it worked all the time, then trading would've been a cake walk. Also they don't manage the risk. So the 25% breaks them.
Besides indicators, a trader needs to develop some qualities like strength of mind, own conviction etc.
Agreed.
 

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