Do you really need indicators?

Wow - that post was from me. I did not use foul language, so I am not sure why it was deleted. And, sadly, my eloquence comes and goes, so I do not know if I can re-create it.

But, here goes:

Indicators are based on price action, so if you learn to read charts you don't need them.

I am not knocking those who use them - if it works for you, go with it.

But, don't let the use of indicators get in the way of learning how to read charts.

Or something like that.

 

Thank you. That was it. Why was it deleted? Maybe the reference to "Crack Whore Magazine" in your signature? If so, that would be ridiculous.

Especially since Eric Cartman is who I pattern my trading and life after!

 

Think maybe it was your signature line that did it?

 

I remember that post - what is going on around here?

 

I wouldn't think so. Crack Whores are a product of society, and to bury our heads in the sand and act like they don't exist is ridiculous.

But I digress, back to trading...

 

I don't know either, but now I'm scared for life. I can never again use the word 'analogy' without snickering.

 

She may not be on the cover, but she still is. right?

 

Yes they are. And without them Saturday night would be boring as hell...

 

Depends on your style...for example, if you trade pivots, support
and resistance levels, you don't need technical indicators. But, there are successful traders who depend on them. For example, here's a quote from Marty Schwartz.

I always laugh at people who say, "I've
never met a rich technician." I love that! It is such an arrogant,
nonsensical response. I used fundamentals for nine years and got
rich as a technician."

Marty Schwartz...Market Wizards...pg.265

 

I don't hear many traders on the floor of the exchanges talk much about indicators and TA. They refer to reading the tape and reading the order flow much more often.