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?
To answer this question, you only need a little bit of a history lesson and study the most famous investment traders in history.
Look at famous traders like Jesse Livermore. Livermore became a multi millionaire trading the stock market at the turn of the century. He was just be at the market floor trading shares just based on price action.
This is somebody who did not even have a chart to follow. The only thing he did was pay attention to how the other floor traders were trading the stocks and how it was affecting the price. Pretty impressive considering he didn’t even have a simple bar chart to go off of.
If some doy can do this without using not just indicators, but without a chart, then there can’t possibly be an excuse for anybody else.
If you really sit down and think about it, there really isn’t any other way to understand market movement besides the being able to trade price action. For example can anybody actually explain what all these indicators that everybody else is using, do? They can be used for a system and somebody can be taught the rules, but nobody actually knows what any of it actually means, relative to the market.
If and when you have the courage to wipe away these indicators from your charts, then you’ll get an opportunity to understand why the market moves the way it does. You actually see it as energy that is constantly moving.
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.
