Do you know anyone who has followed my Forex trading class for any duration of time knows that I (Arvind) do not promote any indicators as one’s primary market analysis or entry tool. I teach my students to trade without indicators and robots. Indicators are very dangerous to use. It can blow your full balance in a day too. Indicators does not have any Money Management system, Risk Reward Ratio, Phycology, Disciple, Emotion Controlling, Planing a trade, Saving the capital, Proper STOP LOSS and finally you will be down in the trap of Greediness.
I’have written this article to explain why trading with Indicators is failure to your success as a scalper or day trader, and why you should start learn to trade with price action strategies instead of using technical indicators.
- Actually, Indicators makes the traders to decide their trading decisions, they are getting a pulled to view of what a market is doing. Its easy and many beginners get rolled into brainy marketing schemes of websites selling indicator based trading systems with fake demo account details, or they otherwise incorrectly accept that if they learn to master a complicated and “fancy” looking indicator they will buy and use indicators for some reason begin to make money occasionally in the trading market.
- Technical chart indicators come in two different forms; they are either “lagging” indicators or “leading” indicators. Lagging indicators are also known as “momentum” indicators, the most popular lagging indicators are MACD and moving averages. Lagging indicators claim to help traders make money by spotting trending markets, however, the problem is that they are “late” to the ball, meaning they fire off a buy or sell signal into a trending market after the market has already started to trend, and just as it is probably about ready for a counter-trend retracement.
- Leading indicators include such popular ones as the (stochastic, Parabolic SAR, and Relative Strength Index (RSI) , these are also known as “oscillators“, because they swing back and forth, or move, between a buy signal and a sell signal. The problem with these leading indicators is that they work (very bad and upsetting) in (becoming popular/moving in a particular way) markets because they show “over-bought” and “over-sold” conditions nearly the whole time the market is (becoming popular/moving in a particular way). So, if a market is in a strong uptrend, an oscillator will show the market as being over-bought for most of the uptrend, even if it continues rising for a great deal of time. The opposite is true in a downtrend; oscillators will show over-sold conditions almost constantly in a downtrend.
So attend our Price Action Course and trade without Indicators to make profits in forex trading.
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