Are you using too many indicators? And ever wondered on how many indicators should you use for intraday?
Here I speak on how many indicators do the best traders in the world use and how you can do the same and dramatically increase you winning rate!

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Using the right no of Indicators are ESSENTIAL to find the best entry points and exit points whenever you trade but here's what would happen if you use too many indicators .. Let's add few basic and simple indicators like rsi, macd, vwap, cpr and pivot points .. and if you see here by the time I get a confirmation from all the indicators it would be too late, you would have missed your perfect entry point.

Just as too many chefs spoil the soup, too many indicators as well ruin your strategy.

So how many indicators should you use?

Let me first tell you, how many indicators do the best traders in the world use.
I have read plenty of the best trading books like the market wizards and trading for a living and

When asked to all of these world best traders on how many indicators do they use?
The most common answer is as few as possible and many instead prefer to see the naked chart as it is, without any indicators.

The reason being the most important data is right in front of us, the candle sticks and the patterns that are being formed.

Plenty of indicators from time to time come and go, some stays popular for a while and then fades away but price action which is trading based on patterns and just the candle sticks stays forever.

Now, I'm not saying you should not use indicators .. in fact Indicators are quite important and makes decisions to take a trade much simpler.

You just gotta make sure you are not using more indicators than necessary.

So how do you know if you're using more indicators then needed.

First you have to look at what are the reason you are using an indicator for?

The reasons could be you're trying to find the trend or looking for possible entry and exit points or for identifying the zone it is in ..

For example I use only the vwap and price action to find the entry and exit points, That's all I need .. As you can you can in my previous gap up strategy video I used only the vwap and got trades where I earned up to 9% in a day.

And when it comes to identifying weather it's a bullish or bearish market, I use CPR indicator ...

Also sometimes I use the RSI indicator to know if the stock is overbought or oversold

So in total it's a max of just 3 indicators

Similarly you could use just 2 or 3 important indicators and that would not only save you only the hassle of observing all the indicators but it would also give much better entry and exit into a trade which would dramatically increase how much you could earn per trade.

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