| For those of us who were born without the ability to | | | | and clutter the screen. Select an indicator that will |
| look at a trading chart and determine potential risk | | | | save you screen space, and most importantly, mental |
| and success, indicators are our best friends. What is | | | | space! |
| an indicator? In this article, an indicator can be simply | | | | 7. No time limit - make sure your indicator works |
| defined as visual feedback displayed on a chart that | | | | throughout the trading day. If your indicator only |
| is based on market analysis. I've found that best | | | | operates when the market opens and then turns off, |
| selection of indicators can be found at Indicator | | | | you're really at a loss (literally!) for the rest of the |
| Warehouse. These indicators are specifically for | | | | day. Your indicator should be running and active to |
| NinjaTrader, a software trading platform that offers | | | | assist your with trading throughout the day. |
| quite a few customizable ways to display trading | | | | 8. Synergy - a confusing word, but no single indicator |
| information. | | | | is effective 100% by itself. See if the creators of the |
| Day Trading Indicators - Top 10 Things to Look For | | | | indicator offer any other software, methods, or |
| 1. Easy and quick installation and use - setting up an | | | | strategies that can be coupled with the indicator. |
| indicator should be hassle-free. Who wants to sit | | | | Don't be caught in the rain with just an umbrella! |
| around and configure an indicator (or guess if it's | | | | 9. Licensing - this one goes back to number two, but |
| configured correctly) while the market could be | | | | really deserves a separate mention. Is the indicator |
| having the best day it's had all week? Also, check if | | | | subscription based on the day, week, month or year? |
| the indicator is automated. The less you have to do, | | | | What about a lifetime license? What if the license |
| the better. As a trader, I know how difficult it can be | | | | expires while you're trying to trade? |
| just deciding to pull the trigger on a trade... | | | | 10. Proven effectiveness - last but not least, make |
| 2. A reasonable price - since indicators are an | | | | sure the indicator actually does what it claims. Search |
| investment, the indicator should pay for itself within a | | | | for reviews, get in touch with users of the indicator, |
| reasonable amount of time. This is of course | | | | attend webinars and view videos that show the |
| subjective; only purchase what you can afford. | | | | indicator in a real trading situation (live if possible). |
| 3. Customer support - how accessible is the support | | | | Based on my research, I can recommend only one |
| service? Is there any material out there or live | | | | indicator that matches the above criteria. The |
| support than can guide first time users? | | | | DayTradeToWin Atlas Line has proven to be |
| 4. Cross-platform support - do you also work with | | | | effective in every market on a daily basis, including |
| TradeStation? Will your indicator be supported? | | | | the E-Mini, Crude Oil, the British Pound, the Euro, etc. |
| 5. Time-tested. Make sure the indicator has been | | | | The Atlas Line has excellent reviews, forum, e-mail |
| available for a bit of time. Sure, it's easy to program | | | | and live phone / screenview support (John Paul and |
| an indicator and sell it. It's far more difficult to | | | | his staff are very friendly), a lifetime license, and is |
| continue selling it after a couple of months (these | | | | entirely automated. Also, there's no second guessing - |
| things are filtered and removed). | | | | the Atlas Line allows the user to stay on the correct |
| 6. Easy to read - let's try an experiment here, visit | | | | side of a trade just by following a simple line! In |
| Chart.ly and look at a few screenshots that other | | | | short, if you want to become a day trader, or want |
| traders are posting. About 95% of the pictures | | | | an easy technique, definitely check the Atlas Line out. |
| posted to Chart.ly appear to be overly complicated | | | | |