Hi guys…have tried some systems with indicators and have tried to trade purely with price action. But now am caught up in a middle kind of. Which of it do u think can lead to long term consistency? I would have preferred pure price action but I realized that there are alot of things to consider and I end up making impulse descision since there is no way I can get a standard trading system with just price action, all I have in place is the risk management rules. Please I need ur personal opinions on this subject
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Firstly, indicators do not give entry signals. They can be useful to confirm market “sentiment” and gauge its strength and whether it is increasing or decreasing.
But start with a price-only chart and add one indicator (the first one should be a moving average) to answer a question that price on its own cannot answer in the context of your strategy. Each indicator must pay for its place at the table: some are just passengers and just replicate what others are saying: dump them.
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I think the problem you have as you said is jumping into trades impulsively. This means you either dont have a strategy with rules or your psychology doesnt allow it. Either way, itll require some work on your part.
I’m not sure how you can say there is no way you can get a trading system with just price action. Look up rockzfx, nick shawn, technicalfx, falcon, supply and demand etc etc. They all trade break and retest and pure price action.
The bigger question is does it suit your personality? No matter what you learn, if it doesnt fit you then itll never make sense. Keep studying, read books and watch free videos.
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