Before I proceed I want to apologize for the aggressive "Thread Title", just meant to grab your attention I'm a student of price and I use nothing but price and horizontal lines in my charts, it works for me but I can't help noticing the countless traders here on ET that keep saying indicators assisting price reads are the way to go, yet the claims are never supported with illustrations and studies. In my eyes, in my experience, price is all you need and I never found the benefits of indicators. On the contrary, they clouded my judgement, and I'm fine with just using price. However, what I'm not at ease with is when people make these claims that there are benefits in the usage of indicators and leave it at that, like some sort of mystical encounter. If you are going to claim that you saw an alien, well at least provide a picture of ET you know. Thank you for reading, looking forward to intelligent discussions. Daniel
I'm a proponent of price too and use no indicators, but you need to STFU and stop demanding others "prove" to you something does or doesn't work. No one is under any obligation to give you anything, especially with the tone of your post. I had a tuna sandwich for lunch, do you want me to vomit it up and take a picture to "prove" to you thats what I ate? If something works for you, leave it at that. Don't demand others spoon feed you what they spent hours/months/years learning. If price alone is your niche, be happy and move on. If someone is trying to sell you a system or something, by all means demand proof. But not of ET users who aren't.
If you are fine with using price action then why are you even wasting your time with a stupid thread like this.
O....k...... glad you are the torchbearer of truth. I have yet to meet a successful trader happy with their own methods who gave a rat's ass what anyone else traded or what tools they used to trade.
Who cares what YOU believe? Are you the "end all be all" of truth? If an experienced trader says "hey, I use this or that indicator but don't want to share how I make money with it" doesn't mean its false in the slightest. Did you ever consider that someone may have sacrificed 10,000 hrs of their life perfecting their technique and would rather not hand it out for free??
I never claimed to be anything I just do well with price alone and terrible with indicators. This thread is not about me is about the topic, who are you guys, the designated thread analyzers ? If you don't have anything useful to say, move along, this is my thread, not yours. Daniel
Hey Daniel, I heard KFC is moving its secret recipe from its vault for the first time in years, maybe you should demand that they give you their secret recipe so you can make a lot of money selling fried chicken!
What we have said was useful (aside from my KFC joke), and thats if you are already doing well with price then you need look no further.
Beauty is in the eye of the beholder. I don't use indicators either but I know a guy who trades based almost exclusively on an indicator and has an 85% win rate. He uses a lot of judgment and pays very close attention to price action. He peels off 1.50, for example, when the market tells him to get out and lands a whale of a profit like 13 points when the market tells him to stay in. I gave up on indicators a long time ago because I couldn't make a dime using them but that doesn't mean someone else can't. Trading is an art, not a science but science is definitely useful. Just do what works.