Why you say indicators fail and price action always works ?

[Whitesnake]

According to me one should always use the indicators for reference purpose only. Basing the trades upon the signals obtained from the indicators may lead us to fakeout trading and thus there are high chances of entering into a bad trades. Where as price action itself is the indicators with the help of which the trader can ride the trend and make some huge number of pips.

 

[itkraze]

What you think about the price action patterns that indicate counter trends. I have recently lost quite a few pips when a perfect pin bar was made at GBPUSD but it just keep going down and down.

 

[FringFX]

What you think about the price action patterns that indicate counter trends. I have recently lost quite a few pips when a perfect pin bar was made at GBPUSD but it just keep going down and down.

care to share a picture of this "perfect" pin you are talking about? Pins do not always work. some people can't even spot a correct pin.

 

[itkraze]

It is not a fact the indicators will always fail and price action will always win. On difference situations it can go wrong. Some traders use some combination of indicators to great extent and some do well using price action.

 

[Lumpips]

Hello all,

I think what is first needed it a basic understanding of what exactly price action is. What all the "mentors" and "coaches" are teaching is NOT price action. They are teaching their methodology or their system. Basically they are calling it price action, but all they are trading is they patterns that "price" is making.

So what is price action you ask? price action is everything that is happening in the marketplace between the buyers and sellers i,e the buying and the selling put onto a chart for you to see and analyse. You can see this on any time frame. This is raw price action. So your question about if price action can fail, the answer is no, price action can never fail.

All the best

 

[FringFX]

Lumpips,
what some traders or 'mentors' are teaching are related to price action or price action methods/systems. price action does form patterns.
You just said it in another way, but the truth is, they concern price action.

 

[itkraze]

Nothing is 100% in forex trading. What we have to do is to remain strict to a trading system, whether it involves the use of indicators or not and then test it results after 3 to 5 months to see how it goes.

 

[James McCabe]

Hello everyone,

It seems indicators and price actions already become major talks in modern trading world,
I think both of them are good and can provide profit for traders who use them, that is what most important of all, "gaining profit" otherwise its not useful.
There are traders at institutional company, hedge fund who use moving averages and they are profitable
There are also traders who see naked chart and see price only here at FPA who are profitables.

In forex and working world, if things working good and deliver profit keep using it until its not working, or if there are better things that is working and deliver more profit you can upgrade.

 

[Whitesnake]

Price action if followed properly will always be good for the traders.

 

[Michel123]

Indicators are not that useless. For sure price action is what the Forex is based on, however it doesn't mean that it is all that matters. You know how they say it is person that shoots, not the gun itself. Indicators is not something that is telling you what to do, but looking at theme you might get an idea what to expect.