Everybody who’s more or less experienced are always talking about the indicators and how they help them to trade and to earn zillions of money. Problem is I can’t understand sometimes what they are showing me. Like i see the pretty red line going up and down and think: “ok, lead me to the wealth”, and it didn’t do what I asked for. Here is my proposition, why wouldn’t you guys say which Indicators you’re using, what they actually show and how they help you to trade. Thanks.

I’d have to take issue with your statement,‘Everybody who’s more or less experienced are always talking about the indicators and how they help them to trade and to earn zillions of money.’

Experienced traders will use ‘indi’s’ extremely sparingly or not at all. Having personally spent many tens of thousands of hours over the years trying them all out, I can say the vast majority will hinder your trading decisions rather than add value. MT4 the most popular retail platform has hundreds to choose from. Call me a skeptic but are all those 'indi’s for the benefit of the retail trader or brokers? :20: Better I think to thoroughly learn price action trading. Understand this and how the market makers manipulate it and you won’t need any 'indi’s.

I respect my friends position but don’t agree with it. The problems is not indicators you use, it’s what you use them for. If you don’t understand what makes a successful trade, then not price action, the hundreds of indicators on MT4 or the man in the moon will make you profitable. I think most traders would agree to have a chance at a more successful trade than one that’s not, you want your trade to be with the trend, have momentum, either at the beginning or end of a cycle and confirmed with support and resistance lines. Indicators like price action are there to assist you in your planing of a trade.
No indicator or price action will guarantee a successful trade, which is why the other part of a successful trade is money management, method and mindset.

If you use 4 momentum indicators and nothing else, doesn’t mean you won’t be successful, same as if you’re using price action strategy to scalp. You can do it, but the probability of having a successful trades long term is in doubt. If you go through the baby pips school, there’s 2 things you won’t find. 1. How to take $25 and turn it into $200,000 in 6 months. 2. the only way to be a successful trader is to never use indicators at all or use them sparingly.

Now onto op’s issue. There is no short cuts that will lead you to instant wealth. There is no one thing you can buy or learn that will lead you to instant wealth. Being a successful trader is taking the things you learn, applying them to a plan that is made up of method, mindset and money management. So if you try to short cut your learning you won’t be able to do the things you need to do to be successful. Everybody learns different. I’d rather be water boarded than sit all day and read any successful traders how to book; how ever, if you look at most of my previous posts you’ll see that I use utube. I use it because that’s the way I learn the best. So first thing you need to do is know how you learn the best. Then when someone tells you the end all is price action or 4 momentum indicators, or somebodies dixi-due system you’ll be able to make a good decision.

So if you don’t understand what the red line means, find out either by asking questions, search utube, the net or whatever you have to do. But like I said before you do anything with strategies or indicators figure out what you’re trying to do trading and how you expect to get there. Then you may find out you wont’ give a sheet what the red line does cause it has nothing to do with the way you’re trading
Good Luck

Well yes, but Utube is not the place to start looking for answers? Caveat, there are a few professional traders on there that will give clues, just clues mind you. The interviews in my opinion are the best source. Stick to these videos and not the retail BS ‘secret’ or ‘proven’ strat. Pro’s will take the other side of retail for a reason.

It’s the same as trading ther is no one size fits all. Utube is not the end all, same as as ezine articles, news letters, etc. but the more places you can go for info the better it is. BUt I agree with you; there’s a lot of traders offering the steak on utube . . .and a lot of non trading marketers selling the sizzle. :slight_smile:


Just for the record, these days my standard set-up is the daily and 4-hour with a simple 20:2 bolls band with the 5ma and 100ma. Sunday night or Monday morning I’ll also peek at the weekly with the 20:2 bolls.

I owe you much more than a “tie’s” worth, thank you! :wink:

I use indi’s only as a directional bias, as we all know they always lag. Thank you for the info.

Lots of indicators there. important thing is using them with your own analysis method.

Thanks to everybody. You’ve just confirmed what I thought about indi’s. I was on the other forums where people post the print screens of their charts and one I’ve seen puzzled me a lot, you can hardly see the chart! There are lines, graphics, fibs all over the screen. After that I felt humiliated. So it is a question for experienced users do you do the same? If yes, would you mind to share your print screen and explain to us “mortals” a little bit of how it helps you?

I agree that indicators are what you make out of them, but I personally prefer price action and no indicators. I am not saying they are bad. When it comes to indicators you need to understand what they are showing you and how you can use them properly as a tool is only as good as the person using it.

That’s exactly why I started this thread. I want to know what the indicators show me. For example I tried to use Ichimoku on USD/JPY and at first I thought that I catch the idea of it, but then the graphics become strange, I tried to read it and after a couple of days I realized that my understanding was incorrect.