Trading Truths - Page 2 - MyTradingLand.com

@godswillfx - 3 months ago

Truth #6

“Stop using indicators, Master the basics” Ok so this sort of goes with the other truths above. If you are struggling with success and you are using indictors to tell you when to trade…..Stop! The truth is indicators can only help if you understand how price action works from the most basic level. If you cannot open a chart and know based on price action where price should go, then indictors are only holding you back. Learn the basics of price action. This goes back to truth #4 and #5. Learn how the big player thinks and learn how to read momentum. Learn how to know if a support and resistance level will hold. Master the basics! Then indicators are more of a confirmation than a signal to buy/sell.

price action mastery beats any indicator.

What’s one price action concept that finally clicked for you and improved your trading the most?

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Y

@yokoyi - 3 months ago

Quoted - headies25284

Truth #6

“Stop using indicators, Master the basics” Ok so this sort of goes with the other truths above. If you are struggling with success and you are using indictors to tell you when to trade…..Stop! The truth is indicators can only help if you understand how price action works from the most basic level. If you cannot open a chart and know based on price action where price should go, then indictors are only holding you back. Learn the basics of price action. This goes back to truth #4 and #5. Learn how the big player thinks and learn how to read momentum. Learn how to know if a support and resistance level will hold. Master the basics! Then indicators are more of a confirmation than a signal to buy/sell.

When you understand price action, then using indicators will make more sense and nit the other way around

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G

@godswillfx - 2 months ago

Quoted - headies25284

Truth #6

“Stop using indicators, Master the basics” Ok so this sort of goes with the other truths above. If you are struggling with success and you are using indictors to tell you when to trade…..Stop! The truth is indicators can only help if you understand how price action works from the most basic level. If you cannot open a chart and know based on price action where price should go, then indictors are only holding you back. Learn the basics of price action. This goes back to truth #4 and #5. Learn how the big player thinks and learn how to read momentum. Learn how to know if a support and resistance level will hold. Master the basics! Then indicators are more of a confirmation than a signal to buy/sell.

I agree with you.

If you don’t truly understand price action first, indicators will only confuse you and give you false confidence. Most struggling traders jump straight to indicators hoping for easy signals, but they end up over-relying on them and losing when the market doesn’t behave as the indicator suggests.

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G

@godswillfx - 2 months ago

Quoted - headies25284

Truth #6

“Stop using indicators, Master the basics” Ok so this sort of goes with the other truths above. If you are struggling with success and you are using indictors to tell you when to trade…..Stop! The truth is indicators can only help if you understand how price action works from the most basic level. If you cannot open a chart and know based on price action where price should go, then indictors are only holding you back. Learn the basics of price action. This goes back to truth #4 and #5. Learn how the big player thinks and learn how to read momentum. Learn how to know if a support and resistance level will hold. Master the basics! Then indicators are more of a confirmation than a signal to buy/sell.

Mastering the basics, reading momentum, understanding how price reacts at key levels, and thinking like the big players is far more important. Once you have that foundation, indicators can become useful as confirmation tools, not as the main decision maker.

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