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721 - Creativity Is Key To Success

The Trading Coach Podcast

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Using the Default Setting of an Indicator?

The default settings of your indicator, is that typically the best settings to use? When you load up an RSI or a stochastics or a MACD or an ADX, should you just go with the default? No, it's typically not. And I say we, maybe it's just me, but in my experience, I think a lot of traders are like this. We're all very similar. 90 plus percent of traders fail. So if we are different, that is typically a positive thing. It doesn't matter if you are a price action trader who is reading a price chart or if you're a systems trader developing indicators, you have to be creative.

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