Indicators are actually useless-say what? What I am going to talk about in this posting will certainly upset and ticked off many traders. I'm not trying to offend anyone deliberately but what I have to say is an alternative to how you were conditioned to trade. Usually, people do things simply because it's the way it has always been done. This sort of thought process will keep you unaware of new concrete realities and choices. On trading the markets, I don't make use of any indicator(s). And I do not take advantage of any moving averages. I've discovered that price action is the most efficient approach to trade, and I will explain to you the reason why.
Trading without any single indicator is the best way to trade. It is the best way to trade because indicator(s) do not work. Yes, I just said, "indicators are not functional." Please excuse my language, they just simply suck and are a waste of time. It has taken me about five years worth of trading to come to this reality. Like most new traders and old traders alike, I have tried just about all the technical indicator(s) that are available. I've even bought specially made indicator(s), and those are awful too.
Indicators don't work, because they're carrying out either one of the two issues: (1) They attempt to predict the markets. (2) They rely on old price action.
An indicator that tries to predict the market is a failure in a box. It is impossible to predict the market - sort of, in any way by using a particular indicator to accomplish this is a fools errand. Please don't become a duped. Indicator(s) that use old price action and data can only tell you what has happened not what will happen. This is why all technical indicator(s) are garbage.
People are selling $5,000 trading systems built off technical indicator(s). Those guys are getting rich from people paying them $5,000 for rubbish rather than using their ability to trade the markets. You will not find any miracle applications which will make you a successful trader. The one thing that will create you a winning trader is a time in the saddle and time in front of a screen and observe the market. Nothing else can substitute for getting your feel of the market and how things conspire to make the market move in either direction.
In a nutshell, technical indicator(s) do not work, and they are a waste of time. Trading strategies depending on any technical indicator(s) are a rip-off which is developed merely to make the vendor of these systems prosperous rather than you. There are no shortcuts to trading mastery; you will have to work hard and dig out your trading strategies, this is how all good traders become great and how bad traders become useful. Make a decision right now to put in the major effort to master the task of trading the markets without taking advantage of inefficient indicators.
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