With and without trading indicators - Opinions

[itkraze]

You never know, they may work better than the trading tools you have used

Yeah, at least they have a 50% success rate . Lol

I think coin toss is the thing I will try yo trade on some high impact news and see how it goes.

 

[willforex]

You never know, they may work better than the trading tools you have used

LOL. True

 

[Pharaoh]

I'm taking my Forex Magic 8 Ball in for re-optimizing based on current market conditions.

 

[itkraze]

We can trade without using indicators but as a newbie trader, he should apply some indicators, simple ones, to trade in the market. It will help them in getting the direction right, a blank chart is not easy for newbie to trade.

 

[Whitesnake]

At the starting stage when i wanted to learn the indicators i was so excited to learn all the indicators and had some 4-5 indicators on my chart and this led to more confusion and i lost trades badly at that stage.

 

[FringFX]

We can trade without using indicators but as a newbie trader, he should apply some indicators, simple ones, to trade in the market. It will help them in getting the direction right, a blank chart is not easy for newbie to trade.

Should? I thought you were against indicators?

A blank chart is NOT easy to trade?? compared to a chart full of squiggly lines? c'mon, mate.

Contrary to what you said, newbies are not required/don't have to use indicators. Most newbies take the "indicator route" when they start, and most likely end up in failure. I highly suggest newbies take a different route: the bare chart/pure price action/pure support/resistance trading route. and see what happens to your profitability...

 

[Whitesnake]

For me i like to keep the trading process simple and allow my charts to be clean Thus, i prefer trading without any indicators so that i can determine the market direction with the price action alone.

 

[elisab]

I use a lot of the sentiment analysis as a trading tool. For example, the weekly reports of the Cot report often highlight situations that absolutely must be exploited in a contrarian optical. For example, the extreme short on the Cable ...

 

[FringFX]

I use a lot of the sentiment analysis as a trading tool. For example, the weekly reports of the Cot report often highlight situations that absolutely must be exploited in a contrarian optical. For example, the extreme short on the Cable ...

which charting platform are you using here?

As far as I can remember, COT is released late so efficacy is somewhat reduced.

 

[Pharaoh]

Like many things, it's a matter of balance. Too many indicators clutters the chart so badly that price action itself is obscured. Too few and you could miss out on some opportunities.

If you have a complex system with some indicators to find setups, some to specify entry points, and some to filter out potential bad trades, consider setting up 2 or 3 separate charts. For example, you don't need specific entries or bad trade filters when you are looking for possible setups.