Many new traders are often seeking for some type of trading edge. They look high and low for it, but in most cases come up with absolutely nothing. It really is astonishing to me how quite a few traders don't even feel about price action. It really is only one of the most vital parts of technical analysis. So rather of searching for magical indicators, you just clear them out of the way.
Think of indicators as needless translators of the market place. When the cost of a currency moves up, down, or stays the exact same, the indicator "translates" that movement into a supposedly accessible way to "read" the industry. Essentially, it really is just shorthand for a trader to know when to invest in or sell.
So, you are essentially giving up your own interpretational skills for what your indicators are telling you. My question to you is rather of having to use this middle man (the indicators) why not just learn the language for your self.
Pretend you were going to a foreign country. Wouldn't it be far better to take the time to find out that language? Wouldn't you get extra out of your vacation if you did? You don't have to walk about hoping to acquire somebody who speaks English.
This is the best analogy for indicators. It is just the lazier way of communicating with the market. Trust me, when you have an understanding of the language of the marketplace, you realize the marketplace.
You have got a selection to make. Are you going to grow to be bilingual and study the intricacies of the market, or are you just going to let your indicators do all the work for you?
