I’m a very new trader- and i’m reading about and trying different indicators and have yet to find ones that make sense to me. If they are based on past price action, why would I need them if I’m looking at the candles in front of me? Does anyone trade bare charts or do you advise I def find one or two indicators that help?
for confirmation, need to have different confluences
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no
there are some people trading successfully for their livings, over years or decades, without using them, so they can’t be “necessary”
there isn’t a “right answer” to this
it’s about what works for you
it’s said (maybe rightly?) that 95% of intending traders end up losing, and i think that 95% includes an enormous proportion (almost all of them, i think) who use indicators
if you look at successful traders, the 5%(?), you see something different - some don’t use indicators, some do, and the ones who do are mostly using them as a bias-determination rather than for trade entries and exits
but we all do what we think works for us
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And where did you get your data to back up this conclusion?
And, I might add, even if this is so, is it the fault of the indicators or just the naivity, inexperience and incompetence of the traders in trying to comprehend and apply them?
I would also add that the brokers coming under the ESMA regulations have to publish the rate of failures amongst their clients and these seem to hover around the 80% level, not 95%
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only from “general impression/opinion” - i can’t prove it (which is of course why i put the words “i think” in the sentence twice).
i don’t think it’s mostly the fault of the indicators, probably a mixture of the other very real factors you mention and the way they tend to be presented, especially online?
(i use some indicators, myself, by the way)
Thanks. I think I am already biased to straight price action but I will keep trying as I’m in no place to already have a bias lol
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