I know to most traders, the idea of trading without indicators just doesn’t make any sense. It’s like going to the supermarket without bringing any money. It’s like what’s the point?
I definitely know where they are coming from, as I felt the same exact way when I started to trade. I felt so reassured knowing that I had indicators such as Stochastics, MACD, Moving averages, RSI, etc…… on my charts. But the more I thought about it, it wasn’t a case of reassurance that kept those indicators on my charts, it was a complete lack of confidence that i couldn’t trade it for myself.
Trading without indicators takes the same kind of courage as taking off the training wheels on your bike when you are a kid. Sure, it’s a bit scary and you might even hurt yourself a little bit, but once you figured it out, you could never go back to the training wheels.
It’s the same exact concept when trading without indicators. Once you can see the market’s movement in all of its glory you can never go back to using indicators like Stochastics to figure out oversold/undersold, price divergence, and all this useless information.
When it comes to trading without indicators, you have to rely on yourself to be able to explain and understand the technical side of the market. It can’t be done for you. This is what truly separates the men from the boys when it comes to succeeding in the forex market.
John Templeton has been a successful forex trader after getting the right forex trading education. Once he understood that all he needed to trade forex was on a plain chart with no indicators, his profits soared.
No comments:
Post a Comment