Trading Indicators are for the weak!!!

  • Trading Indicators are for the weak!!!

    Posted by Big Wolf on August 1, 2022 at 6:20 pm

    Indicators are not fortune tellers. They can’t predict the future for you, but if used correctly they’ll help point out trends and opportunities in your investing strategy so that when things do go right (or wrong) there will be no guessing games!

    I’m just tired of these people praising indicators as if its their holy grail!! LOL As if it predicts the future price accurately. If you rely only on your trading indicators, then there’s something you need to learn more.

    • This discussion was modified 1 month, 4 weeks ago by  Big Wolf.
    Big Wolf replied 1 month, 3 weeks ago 3 Members · 6 Replies
  • 6 Replies
  • Kingsley Ikechi

    Member
    August 1, 2022 at 6:38 pm
    25

    Very true. I traded indicators for about 9months during my early days in forex.

    Tried different indicators but always had that every loophole in every indicator that warranted me switching to other indicators or even adding more indicators to help fill those loopholes but never got to do so.

    Relying on indicators is like a time bomb waiting to explode.

    I have been doing pure price action since the day I learnt what Price Action is and Iove the progress am making.

    I now rely on me for my outcome rather than relying on some indicator.

    Not discouraging those who are still starting forex journey and are still wanering around Indicators, at least you need to start somewhere but just always have it at the back of your mind that Indicators don’t tell the future, it only tells what just happened and from that you can’t expect something of the market, according to the indicator manual. πŸ˜…πŸ˜…

    • Big Wolf

      Member
      August 2, 2022 at 6:07 am
      63

      Yes. However we do not disregard the benefits of trading indicators. Just that it should be pinpointed at early stage for traders to learn how this industry works. If you want to trade for a living, these are the things that you should start looking into. How money works, how debt works, global scale economics and how we can maximize sentiments and events to our advantage. For sure these famous billionaires and investors that we know don’t look at charts and indicators anymore haha. They bet on the market trajectory based on fundamentals and global sentiments.

  • Samuel Junghenn

    Organizer
    August 2, 2022 at 4:38 am
    2,882

    Agree many traders think they are the magic solution to successful trading, when the vast majority are lagging indicators.

    I wouldn’t go as far as saying they are useless, because there are some that can provide clarity on many situations. Though in saying that, in my experience using an indicator(s) alone without understanding sentiment, events and bank agendas is not going to yield a positive result over the long term.

    • Big Wolf

      Member
      August 2, 2022 at 6:03 am
      63

      Yes, there’s a lot more important things to consider. Macroeconomics, supply and demand, sentiments, bank and institutional ownerships, dirty market tactics, and large scale manipulations. If you see it we are just small fish in this big industry. When you understand this and the market participants, it becomes clearer for you to trade. They say if you can’t beat them, join them 😎

      • Samuel Junghenn

        Organizer
        August 2, 2022 at 7:50 am
        2,882

        yes and “we are just small fish in this big industry” is a good way of thinking to keep our egos in check so we don’t get over confident and do stupid things.

        • Big Wolf

          Member
          August 3, 2022 at 6:18 pm
          63

          hear hear to that

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