Trading Forex Without Indicators - Can It Be Done?
In the forex world, we are currently living in a time wen trader are getting constantly bombarded with new indicator-driven trading systems. It’s hard to fall into the trap. But for those that have gotten tired of all the hoopla, these traders have to be curious if they can become rich by trading without indicators?
Well, to answer that question, all you have to do is look at the history of the most successful traders of all time.
You could start by reading about traders like Jesse Livermore. Livermore struck it rich in the stock market at the turn of the 20th century. He was a floor trader and the only thing he cared about was trading the price action of stocks.
What makes it so impressive is that it’s not like he was able to even follow a chart. All he did was pay attention to how market traders were moving the price. It was all in his head. Not even so much as a bar or candlestick chart.
If somebody like this can become rich trading without any kind of indicators, then there is no excuse for anyone else.
If you think about it, is there any other way for you to truly understand what the market is doing besides trading just the price action. Think of all the indicators most people plaster all over the charts. Can you really explain what 3 moving averages crossing each other actually means? The truth is nobody can. It’s the same case for any of these popular indicators. They may know the rules of how to trade them, but they don’t have a clue what it actually means.
When you clear out your charts of these indicators, you finally get a chance to understand the underlying reasons why the market moves the way it does. You finally get to see it as a form of energy and as a living, breathing thing.
When you finally have the luxury of seeing the market this way, you can never go back to using those indicators that everybody else does.
