Market price charts are typically the easiest way to see the markets from the purely technical point of view. I'm one of the few traders which does not incorporate any technical indicators. I trade utilizing a real price bars charts with nothing on them. I do not make use of moving averages either. How did I choose to trade like that? I began to trade like this subsequently after losing my capital more often than I care to admit. The strategies that called for utilizing these indicators did not work for me. Also, it did not blend in my way of thinking and trading philosophy. I've found that those lagging indicators were simply unable me to trade what I see, and when I see it the market price.
Market price is the only thing that counts when you trade. The single thing you need to be concerned about is where was current market, where did price move and where do you believe it'll run. Trading isn't a scientific research, and it's far away from a resolved game-play. Everybody is using speculation to create their trades. The only distinction is the fact that some players have cutting-edge computer systems as well as mathematicians who produce predictive algorithms which help them speculate without having human subjectivity and making ignorant guesses. Many of us as individual traders will not be able to make forecasts just like the super computer utilized by large institutions. However, we're able to give ourselves an advantage through the use of price action.
Once the chart is clean, all you need is to take a look at the movement of prices being stable or going up and down. I like this because doing so provides me with an actual image of the market. Many traders impair their charts with technical indicators mainly because they wrongly think that they can make them forecast the market. However, this isn't the case. Only observing the price action is all you need to foresee the course of the market price. This isn't 100% correct, but there is nothing absolute in trading.
What are methods I use to trade without indicators: market reflection. I like to trade short trends without taking too much risk, and I have created one methodology to get and spot when the price will go up or down. The method that I like to use that is based on price action with very specific entry and exit points is called Trade Selector Signal. The accumulation stage of trading is when the price action is biased to upside or downside movement. It is not going a great deal up or down and it also often goes back to a starting point of the trading activity development. Many traders do not see this because they maze their charts with an absolute mish-mash of information on the charts.
The thing I find irresistible to do is to observe all the fake setups. A false flag start happens when the price action sets out to generate a severe move up or downward. Commonly when this occurs, market makers are either buying or selling. They're also frequently attempting to fake out their competition as well as you and me to leap onto phony movements. Once ample of traders hop onto a false flag move, these phony moves develop short-term strength. The professionals know that this action in price cannot continue so they set out to take the opposing side of the trade and once the price adjusts itself, and everybody is selling or buying off in fearfulness or greed, the institutional traders who started this process gathers a large number of pips. An indicator(s) couldn't provide you with that kind of information.
Trading is all about maintaining just relevant information in front of you for favorable, educated judgments regarding entries and exits put together by market price. Do not end up being an indicator(s) troll, maintain your charts clean and clear. Ease-of-use is a way of life in trading business. Do not turn this into more challenging and complicated than it has to be.
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