Why This Trader Thinks Indicators are NOT the Solution to Making Money in Forex

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41

hi,
im having a doubt on most of the website i refer all say they that they have a 90% 99% success rate on signals. can i believe on those sites.

42

I cannot answer that question definitively since I have never considered purchasing signals and therefore I have not researched signal providers and their services. What I am sure about though is that, in the forex trading marketplace, there are many more scam artists than there are legitimate service providers.

I prefer to learn how to trade for myself rather than to rely on others.

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43

Thanks for sharing

44

Pls pm me too about the resources. Iā€™m a beginner too

45

Wow! Good to know you have interest in classical music. You were the first person to comment on my trading journal :notebook_with_decorative_cover:.

46

Hi Quadpip, thanks for this wonderful insight.

I am a newbie and will very much appreciate getting the resources that will help me understand the PA better.

Kindly pm me about the resources.

47

Great article Quadpip

48

I use indicators to keep me out of a trade. For instance, the 200 DMA is the most powerful Moving average (on the daily chart) No matter the PA if its about to run into that, youā€™re goneski most of the time.
If you only trade smaller time frames, know where that 200dma (from the daily chart) is and you might get a pleasant surprise.
Thats only one useful indicator, theres more if you want to hunt.
A rugby coach spends more time teaching his team how to stop tries being scored than how to score them. In traders terminology ā€œcontrol your losses and let the wins take care of themselvesā€

49

Thank for sharing. like you have said @QuadPip-one has to keep an open mind to be able to learn and succeed. it still all blurry to me. But i know i will scale through. if you accept student, i will love to learn from you.

50

Thank you this is a mouthful advice, the world needs thinkers like you

51

This was simply an amazing read. when I got the mail from baby pips and checked it out, I was like this read is gonna be a long one. Then again, I took to reading it, and to my surprise, every single paragraph was inspiring and there was something to learn. Thanks for the book recommendation. I just downloaded a copy. The intro on page 2 and 3 got me glued. I will certainly read everything. Thanks a lot @QuadPip

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52

Thank you for your kind words. Iā€™m glad that you found the information useful and inspiring.

Wishing you well in your trading journey!

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53

Thanks a lot. Please, one more thing, do you have any recommendation one could refer; to gain more insights on Price Action analysis? The internet seems to be loaded with just millions of information. Its a hassle finding a compelling material.

54

Hi QuadPip,
thanks for sharing your knowledge with us, I am interested in the PA but I canā€™t seem to understand how to use it, is there a way that you can assist me if that is okay with you?
Regards

55

Hi QuadPip, thanks for sharing your trading history. Very informative and inspiring. Would appreciate if you could share more or refer reliable resources on price action trading.

56

I donā€™t mind disagreement. Iā€™m here to learn. Vitrol, sarcasm, personal attacks, immature egotistical rants, and nastyness just wastes my time and distract me from learning. Go beat yourself Anon, and stop depriving me of learning!