Why I trade with candle sticks and no indicators - Page 375
Page 375 of 376 FirstFirst ... 275325365371372373374375376 LastLast
Results 3,741 to 3,750 of 3760

Thread: Why I trade with candle sticks and no indicators

  1. #1
    Banned
    Join Date
    Mar 2015
    Posts
    9,523
    Thumbs Up
    Received: 127
    Given: 20

    Why I trade with candle sticks and no indicators

    Hello all.

    Will be sharing to you some reasons why I trade with candles with resistance and support line and no indicators



    Here is a screenshot of My on going GBPJPY trade, I will explain why I took it and why I still held it.

    Attachment 12655

    At arrow 1. being the support area, the formed BULLISH PIN BAR encouraged me to take the long position, because it signals BULLISH ATTACK and at that moment, the weekly time frame was strongly bullis.. So I took the trade and set my stoploss below the pin bar.

    At arrow 2. Being a resistance line which is not too strong(The market tested it not as strong as the below support area. I was expecting a breakout, But a pull back occurred at Arrow 3, I then moved my stoploss to break even(I will explain more of this on the indicator screen shot).

    Then, I waited for a signal that confirms a continuation or a decline in price.. And BOOM!! After some few days, a signal formed for me around the Yellow eclipse area Which gave me the confident to wait for a breakout and it occurred and I am still holding the position and it has moved over 1200 pips!!!


    WHAT I WOULD HAVE DONE IF I TRADED WITH INDICATOR, BOLLINGER BANDS.

    I started learning forex with Bollinger bands.

    But along the line, I stopped using it and learning just candle stick and support and resistance line.

    Here is a screen shot of the same trade with bollinger band on it.

    Attachment 12656

    Arrow 1. Which is a support area with the Bollinger Bands Supported the candle stick, because when a candle breaks from a bollinger band lower or upper bands, it signals over sold or over bought market, therefore at the support area, the market was over sold and it formed a pin bar.. FIne, it'd have supported me to take the trade.

    Arrow 2 Being a minor resistance and the Bollinger BAnds signals a over bought market because the candle at Arrow three broke out of it. THEREFORE ON FOLLOWING THIS INDICATOR, I WOULD HAVE CLOSED MY LONG POSITION AND THEN START SELLING HOPING THAT THE MARKET WILL START GOING DOWN AND WOULD HAVE LOSS MY MONEY BECAUSE THE MARKET CONTINUED THE UPTREND MOVEMENT.


    In conclusion.

    I am not saying that Indicators are bad, or people who make use of it are not profitable, but I just think that as a swing trader, it will not help me hold my position for long, The middle bollinger band is a very confusing area( I will explain it in other threads).

    Also lesson I would want Beginners in here to learn is that:

    1.BE PATIENT. I was patient for some few days to wait for a break out.

    2.TRADE THE LONGER TIME FRAME AND KNOW YOUR S&R LEVELS.

    GIve me a thump up if this is useful.

    Not allowed!

  2. #3741
    Trader Goldenstein's Avatar
    Join Date
    Oct 2017
    Posts
    1,263
    Thumbs Up
    Received: 2
    Given: 1
    Quote Originally Posted by missphat View Post
    The way traders trades in the market determines their success. I don't think there is any special way to being profitable, all I can see are just different trading methods that we have gotten for ourselves and then the learning we will be needing to become profitable. Trading with the use of candle is really good and profitable, however the trader just have to have other means by which they can confirm all trades before taking them.
    because the only special way to make a simple thing to work with good quality is depending on how serious we learn the strategy with all of our heart. candlestick strategy will help us deliver the understanding of market through its patterns without showing further confusions in many lines like indicators provides for their traders. i no longer use indicators because i understand they are not really showing me earlier identification of market trend and reversal.

    Not allowed!

  3. #3742
    Trader
    Join Date
    Dec 2018
    Posts
    3,180
    Thumbs Up
    Received: 8
    Given: 7
    Quote Originally Posted by Eneregha View Post
    We just have to make sure that any trading strategy we plan of using we should have the adequate experience and knowledge to make use of it, if you plan of using the candlesticks naked with no indicator then we should have a better experience and knowledge to use it very well, same thing if we plan of using the candlesticks with indicators.
    I am agree with you , if we sure we are master in own trade strategy and we can easily tackle te trend through that working method that completely well known by self then surely we can keep the trade far from the losses and any other false signals will be away from us so we must tackle the best strategies in this regard .

    Not allowed!

  4. #3743
    Trader
    Join Date
    Mar 2019
    Posts
    711
    Thumbs Up
    Received: 0
    Given: 2
    I also not like to use indicators because they are show us false market trend signals. traders success is possible only if they are use their own trading skills in trading and they are find the market trend with a strong and powerful trading plans. We must make strong and powerful trading plans then its easy for us to make huge pips profit from forex market every day.

    Not allowed!

  5. #3744
    Trader
    Join Date
    Jan 2019
    Posts
    1,189
    Thumbs Up
    Received: 3
    Given: 0
    Price action has become the best strategy that some people have adopted because they believe that it is what is required to make them successful, the best way we can trade without having so much losses is to have less dependence on our indicators because using them could bring us some losses which we might not want.

    Not allowed!

  6. #3745
    Trader
    Join Date
    Oct 2018
    Posts
    468
    Thumbs Up
    Received: 2
    Given: 1
    Indicators are the best way of trading and I think this is not possible to earn money from forex without use of indicators in trading. If you want to trade with naked charts then its really hard to identify the market trend and find its movement but when you are use indicators then you can easily know that in which direction this market is move.

    Not allowed!

  7. #3746
    Trader
    Join Date
    Aug 2018
    Posts
    2,122
    Thumbs Up
    Received: 8
    Given: 7
    Trading with candle sticks or pure price action is very good trading strategy. Many experienced traders use naked chart for trading decisions because all information is in the form of candles and chart patterns. Chart patterns bullish or bearish are the visual form of information and trader can use them to determine the possible market direction.

    Not allowed!

  8. #3747
    Trader
    Join Date
    Jan 2018
    Posts
    595
    Thumbs Up
    Received: 1
    Given: 0
    In forex trading, manual trading strategies like use candle bar or candlestick chart traders are know how to use them according to the market movement that is the reason they are made an easy profit with the use of it. We can make a profit with use any trading strategy but traders must need to know how they can use indicators in their trading. Indicators never help us to earn money until you are know how to use them in trading accurately.

    Not allowed!

  9. #3748
    Trader
    Join Date
    Jul 2014
    Posts
    7,061
    Thumbs Up
    Received: 108
    Given: 70
    Some traders want their charts to be totally clear and prefer not to use indicators. While people who have learned their strategies consisting of indicators prefer to use them and I too like certain indicators. Depending on the market behavior we can chose to combine bollinger band with some other indicators or chart patterns for a stronger confirmation.

    Not allowed!

  10. #3749
    Trader
    Join Date
    Apr 2018
    Posts
    1,413
    Thumbs Up
    Received: 5
    Given: 4
    Candlestick patterns are very effective and very powerful choices for earn in the market without any support of indicators because a lot of traders are not like the working principles of indicators that can produce only the false signals so earning from the indicators is not very obvious but if we are working on the simple candlestick patterns we don't need any indicator for earning.

    Not allowed!

  11. #3750
    Trader
    Join Date
    Feb 2018
    Posts
    1,426
    Thumbs Up
    Received: 4
    Given: 2
    Trading the forex market without indicator won't work because this tool play very important role cause without them it will be too hard for us to analyze the market correctly, indicator help to make things easier for us, it will be too hard for us to analyze the market well. So I think it's best we use indicator to assist our trading cause only then it will be easy for us to trade.

    Not allowed!

Page 375 of 376 FirstFirst ... 275325365371372373374375376 LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •