I have always made my trading decitions based on indicators signals. I use Stoch and CCI. How trading desitions are made when trading based on price action?. Patterns, candle stick formations, support and resistance?. I have probably used every indicator out there, and every system. Along the way, I have learned candlestick formations, patterns, Fibonacci's, trend lines along with support and resistance. I believe success is first and foremost, so whatever you feel more comfortable with but I have had and interesting evolution when it comes to charting.
I will never know if I had to first go learn all the other stuff didn't work for me or if I could have learned to trade naked charts first. Price action is bias up.
Now you can plan for trading strategies for your up, down and consolidation markets. Like many others, I have tried many indicators over the years, but with limited success. I have realised that indicators are all lagging. So why use them? I use the 21 EMA as a visual for direction and momentum, also as a target. Don't get too wrapped up in it. Trade what you understand and are good at. If you are new to trading you'll hear a lot about naked charts and that's all the pros use.
Pros don't care what others think they care about making money. What I have found in my own trading and watching others is the success comes from using one strategy and staying with it. I would guess, the main reason most traders struggle is they keep changing strategies. Thank you all very much guys, Allen, gmstudios, AnteFX and dhopp I have been in the Forex world for some time now, almost 10 years.
I have studied kind of everything in technical analisys. I even did a master in Orlando with MTI fx university but my tradind carree was always up and down, back and forth. I have not been successful until recently. During all my endeavor in forex I always ask myself: How market makers and big money make their desitions about enter and exit the market, and also made myself tons of other questions. My background is software engineer, probably that is why I need to find logical answer to everything that happend in the forex charts.
I finally end up been more successful using indicators. But I still have a questions partially answered. In the forex world of big players, the charts Price and indicators , represent the desitions made by the big players OR the big players made their desitions based on charts and indicators. The BIG answer to be successful in any market has always been the same 'Buy low and Sell high', but how do they know when is real low and when real high? So probably you are all right and the answer to succeed in forex trading is inside everyone and inside everyone's system and estrtegy.
Thanks you all and happy trading. MTI is very good school with technical analysis and context of the market, they are probably the best out there; but not so good with the structures of the market conditions. I used their logic such as Wave Count as the context-location where I want to be a buyer or a seller, and I used supply and demand from OTA for structures of my entry. Most MTI sometimes buy and sell using candlestick formations such as engulfing bearish, engulfing bullish, etc.. I have no indicators or oscillators on my charts--I am a pure supply and demand type of guy.
Most of my trades are set and forget. I am not sure what the PA traders look at. I only look for supply and demand out of balance, which I called the unfilled orders.
Everyone think the support, resistance, pivot high, pivot low are the same as supply and demand, I don't! Sokha, I am just now learning about the unfilled orders as you call it.
I am also now a supply and demand trader. I don't see any demand--unfilled orders left in there. That's why I was so confident to say that I rather wait for the price to break that support and look for unfilled orders as the institution jumps on board. If you know what you are looking for, there is always a foot step on the charts.
That's why I don't use any indicators or oscillators because charts are all I'll need. Every time the institution loads their orders, there is no way they can get them all filled. That's where you want to wait for it to retrace to that level and ride down with them to the next daily support at 1. They will try to do anything to push the price to get their unfilled orders. The deeper it retraces such as 0. I only look for supply and demand; nothing matters to me. This is the only way I can think of the low risk, high reward, and high probability trades.
You can use the ABCD fib extension for profit. May be further or shorter than the ABCD extension depending where the supply and demand. Why do you think brokers who profit from your losses all offer Metatrader, hundreds of indicators, EA's and offer education that includes price action, support resistance, etc?
Retail forex brokers not Apiray never enter your order in the real interbank forex market and if they do they trade the opposite against your position. I don't have the answer to what can make you a profitable trader but these will guarantee you win continue to lose. At Apiary they make sure this isn't happening because it is their funds you trade. However the entire retail forex business is very sleezy and what they do would never be allowed in the stock market.
I think the goal is to evolve to using naked charts. I also think there is a correct way to use indicators to supplement price action analysis. Sooooo your saying indicators are the way retail forex brokers prevent traders from being successful? Indicators are another way of analyzing the market. They are based on past price history though.
They can help you to see the market in another perspective. So I guess the best way is to use price action along with indicators to get a complete analysis. I'm still trying to do that so just hang in there until you can see the complete picture and which direction you should be in the market!
Gm and Allengoldatty, great comments. Do you folks know of any courses of group recordings that just go over price action? Look guys, The thing about Apiary Fund is we are all taught in the very beginning to find out what works for each of us. We all have different personalities, patients, tolerances. If you can trade with 50 different indicators and be successful then chive on. All indicators are lagging in time. That does not make them faulty.
I watched a guy trade with the the bars colored out so they weren't even visible and traded using indicators only. We are here to help each other and share our experiences not bash each other because they trade differently. Find what works for you and stick with it. Share your methods, share your charts, show what worked and what didn't work.
Repeating something you saw on a YouTube video or read in a book but can't even apply it yourself is not helpful. Is it feasible to have more than one chart of the same pair and use indicators on the higher time frames and naked price action on the lower time frame?
Absolutely, you don't need anyone's permission to trade the market as you see, and understand it. Do what works for you and bank the pips! No person, institution, or entity, including the Apiary Investment Fund, can guarantee a return on investment for such transactions. Neither the Apiary Investment Fund nor its representatives will recommend the purchase, sale, or transaction advice for a specific security.
To learn more about how to get involved, sign up now for a 14 day free trial or fill out the form below and preview the training right now! Skip to main content. Price action vs Indicators. Price action vs Indicators I have always made my trading decitions based on indicators signals.
Any bee whish to share? Al, I have probably used every indicator out there, and every system. If you like the stoc and CCI use them, perfect them, trade them, and make money. Al-- MTI is very good school with technical analysis and context of the market, they are probably the best out there; but not so good with the structures of the market conditions. All, Price Action leads to indicators movement. I enter on price action and then manage my positions with indicators. Thanks for all your comments.
All of these are designed to keep you losing as a trader! Mark, Sooooo your saying indicators are the way retail forex brokers prevent traders from being successful?More...