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Trading is made easier by price action.
 Post subject: Trading is made easier by price action. Post rating: 1   New post Posted: Wed 09 Oct, 2019, 16:18 
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Joined: Wed 09 Oct, 2019, 16:17
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Most Forex trading systems are made off technical indicators (a moving average (MA) crossover, overbought/oversold conditions in an oscillator, etc.) But what are technical indicators? They are just a series of data points plotted in a chart; these points are derived from a mathematical formula applied to the price of any given currency pair. In other words, it is a chart of price plotted in a different way that helps us see other aspects of price. When a trader has to make fewer decisions in regards to every trade, his life becomes livable and stress free. Contrary to what most so called experts say, it is very possible to trade with fewer inputs. Inputs would be areas like financial, economic news, world news etc. Another input might also include the number of indicators and charting tools that are used for discovering and managing trades. Another input that could be avoided is listening to friends opinions about what or when to make a trade.
In a nutshell, great forex traders, always go back to the very foundation of a price chart, (a raw blank candle or bar chart), and make decisions based on the truest information available.
Observe the price behavior. Without any indicators, a market can be seen as trending, hitting resistance or support, congesting sideways, etc. No computer or indicator, or news item will provide this information perfectly, except the human brain.


 

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