How many indicators do you need?

He should have put bit more to cover the bars. They are still visible............

My chart does not have any indicator nowadays. It has Support/ Resistance horizontal line, Trend line, Fibonacci retracement/extension. Do not rely on any indicators.
 
He should have put bit more to cover the bars. They are still visible............

My chart does not have any indicator nowadays. It has Support/ Resistance horizontal line, Trend line, Fibonacci retracement/extension. Do not rely on any indicators.

I agree with you but almost all newbies fancy these indicators in start, they only quit them when they realize after loss that its not worth trading using indicators.
 
Indicators can be quite helpful and useful if one knows how to implement them properly, but with the understanding that indicators alone aren't always enough to confirm a signal for a trade. That is why it's good to learn analysis that is not directly related to indicator use.
 
Yes if you follow indicators blindly it can be a harmful practice , they are just to show you what market indicates. you have to analyze market by self that what can be a next trend. Your ability to trade at right entry counts. Some times indicators help a lot some times not. So you have to judge for trading with your experience.
 
To be honest we don't need any indicator if we can read charts and candle patterns well. Indicators are mostly lagging and you cannot get a perfect entry and if entry is late your SL will be hit more likely.
 
I tried EMA and some indicators, based on it. But I don`t really find it useful. I think, it`s possiblr to identify trend without it.
I also tried to learn some others indicators, but it seemed to difficult for me.
A lot of succecssful traders don`t use indicators, just price action. I think, indicators just complicate everyting. Maybe, I just haven`t found a good indicator for me yet.
 
To be honest we don't need any indicator if we can read charts and candle patterns well. Indicators are mostly lagging and you cannot get a perfect entry and if entry is late your SL will be hit more likely.

That depends on the indicator, on one's ability to read it, as well as the ability to read the signals on the charts that don't come from indicators. I don't follow indicators alone, but a number of other things as well - trend lines, bar patters, etc. In combination with an indicator one trusts they can be very helpful.
 
I tried EMA and some indicators, based on it. But I don`t really find it useful. I think, it`s possiblr to identify trend without it.
I also tried to learn some others indicators, but it seemed to difficult for me.
A lot of succecssful traders don`t use indicators, just price action. I think, indicators just complicate everyting. Maybe, I just haven`t found a good indicator for me yet.
That is beacuse all indicators are lagging - you see moving averages in the historical chart and say "wow, this was so obvious!" but in real time they constantly move.
 
I haven't had that problem with the Moving Averages in a long time. If you watch them for long enough you can get pretty good at ascertaining how much it will move in the near future.
 
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