With and without trading indicators - Opinions

[brendyfx]

Hello Everyone,

The purpose of this thread is to generate opinions about trading with and without indicators. Recently I learnt about price action after failed with 100+ indicators. Yet I cannot trade nakedly without indicators and use moving averages to identify the trend. Please comment.

 

[FringFX]

It simply does not matter what others say or how others trade.
at the end of the day, you must try things yourself and see what you are comfortable with.
You can hit success with or without indicators. Trading is an experiential endeavor. follow what works for you.

 

[Pharaoh]

Some people like trading with naked charts, some don't.

I think the main reason people fail with indicators is that they overload their charts. It's possible to have a system that combines many indicators, but if you put more and more indicators on one chart, it becomes harder and harder to read. In a case like this, open 2 or 3 of the same chart. Put your setup indicators on one and your entry/exit indicators and trade filter indicators on 1 or 2 more.

 

[Red Herring]

Hello Everyone,

The purpose of this thread is to generate opinions about trading with and without indicators. Recently I learnt about price action after failed with 100+ indicators. Yet I cannot trade nakedly without indicators and use moving averages to identify the trend. Please comment.

Are you trading with your live account? If you are a newbie then have you tried with some demo account to see how good your strategy is!

 

[perryfx]

Hello Everyone,

The purpose of this thread is to generate opinions about trading with and without indicators. Recently I learnt about price action after failed with 100+ indicators. Yet I cannot trade nakedly without indicators and use moving averages to identify the trend. Please comment.

Brendyfx,

There is no straight answer for your query mate. Try to find the best thing work for ya. I think you are on the right track to use price action trading to trade fx. We cannot ignore indicators. Indicators like fibos, pivots & MAs are very useful and I am using those.

 

[Red Herring]

Brendyfx,

There is no straight answer for your query mate. Try to find the best thing work for ya. I think you are on the right track to use price action trading to trade fx. We cannot ignore indicators. Indicators like fibos, pivots & MAs are very useful and I am using those.

Can you give me the link to download the Fibonachi indicator? Also initial instruction (if you can please) to know the price action using this fibo...

 

[Pharaoh]

Fibonacci retracement is built in to MT4. There's a link to it on the 2nd toolbar just to the right of where you can add lines.

 

[willforex]

Can you give me the link to download the Fibonachi indicator? Also initial instruction (if you can please) to know the price action using this fibo...

Hello Red,

It is on your MT4 platform. Follow the instructions by Pharaoh. Please check this E - Book ( only one I have atm ) to get basic knowledge. Google for more info on Fibonacci trading.

 

[Red Herring]

Fibonacci retracement is built in to MT4. There's a link to it on the 2nd toolbar just to the right of where you can add lines.

Oh, Thanks!

 

[Red Herring]

Hello Red,

It is on your MT4 platform. Follow the instructions by Pharaoh. Please check this E - Book ( only one I have atm ) to get basic knowledge. Google for more info on Fibonacci trading.

Thanks for the file. I still do not know how to use Fibo, hope this will help.