Indicators of the same kind

[michaelgr62]

Hey, I have a pretty simple question, is it good to use two indicators alike to be sure of a prediction? Say if I want to use Envelopes and Bollinger bands, is that unnecessary?

[Walander]

Bollinger Bands, and Envelopes (depending on which ones you're referring) have different uses.

I do not use Bollinger Bands personally, but I know of many people who do. I find them practically useless because at best they'll tell you what should be visually easy to say like consolidation.

Neither will have any real sig. predictive power.

[FxReferee]

Hi

michaelgr62:
Hey, I have a pretty simple question, is it good to use two indicators alike to be sure of a prediction? Say if I want to use Envelopes and Bollinger bands, is that unnecessary?

I'm not use with Envelope but bollinger bands is okay by me.

My advice is that you should not use two (oscillator/leading indicators) or two (momentum/lagging indicators). What i normally do is mixing oscillator indicators with momentum indicators, so that i will always be at the safer side of the market.

I hope it's clear?

"IF YOU GIVE A MAN A FISH - HE WILL HAVE A SINGLE MEAL. IF YOU TEACH HIM HOW TO FISH - HE WILL EAT ALL HIS LIFE"

[kol8701]

my 2 cents

Nice idea, keep it rolling... there is always someone reading to benefit from your different ideas, i believe one just have to go with what sooth your style we all cant use the same system and if we do we will not always arrive at the same answer so look for what makes you thick so to so.