Is it possible to be rich trading forex without using indicators? If you think about it, is there any other way for you to truly understand what the market is doing besides trading just the price action. Think of all the indicators most people plaster all over the charts.
Can you really explain what moving averages crossing each other actually means? The truth is nobody can. It’s the same case for any of these popular indicators. They may know the rules of how to trade them, but they don’t have a clue what it actually means.
When you are able to get rid of these indicators from your charts, then you start to see the reasons why the market go up, down, or stay range bound. You truly get to see the market as an energy, not just numbers.
When you finally have the ability to seeing the market this way, you can never go back to using those indicators that everybody else does. Personally I do trade by reading the chart and never use any Indicators, split it in two area divided by pivot lines because I believe that any indicators out there are Lagging.
Using OHLC (Open High Low Close) data and I still in this game today. Don’t you realize the present of lagging indicator out there?
You already know that 95% of the forex trading public failing to make any money, a lagging Indicator is like a death trap, like a path that guide you to the wrong line! That’s why you should be carefull in choosing Indicators inside your trading tool box.
Anybody can understand price action and this not really difficult. Most people just don’t want to take the time to really understand how to read the movement of the market. Everybody always wants the holy grail magical indicator that people can just plug into their trading platform and it’ll do all the work for you, but sorry it doesn’t exist out there!
Forex trading is about a proccess, no overnight instant rich scheme there, it need learning by doing, patience and dicipline. I do agree with some Indicator that help you manage your trade, but again be carefull with the lagging Indicator and just don’t depend on it. You need to have a chart movement reading skill, by understanding the OHLC data it will help you to know where the market direction and how much trading range might happen.