While these indicators have their use, they’re not something I solely base my trading ideas on. It’s the reason beginning traders flock to indicators you can quantify easily. You can’t read price action in the unambiguous way you can know if the RSI indicator has crossed the 70 mark. It’s not an indicator in the traditional sense. Stands apart from all the other technical analysis tools.Īnd a lot of traders don’t understand how to trade it. By now, price action is my main way of trading and my Trade Advisor students can attest to how effective it is.īut… Price action is a whole other beast.ĭifferent species. Gradually though, I started to change the way I approached trading and immersed myself in price action trading. If it did, a lot more than the 10% of traders that are said to be profitable in this business would make a killing, but they don’t. While indicators are not inherently bad, there’s a good chance that it didn’t work out for you too. ![]() Hell, it was my strategy for about a full year when I was starting out trading! It didn’t work for me. I know a lot of traders who try to become profitable using a multitude of indicators (or a combination thereof).
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