Let’s talk indicators
Indicators are helpful but if you are using indicators with no knowledge of what the underlying price action is telling you and how to exploit edges
Then it’s just a matter of time before you blow up
I constantly see traders sharing charts with a dozen indicators on them and the rest of the internet gets all shiny-eyed agreeing with them because, well the RSI is up at the top of it’s range so we are obviously overbought and the market will drop from here
RSI, MACD, Stochastics, Elliot Wave, Gann, Fibonacci, Wycoff, Bollinger Bands, Keltner Channels, ATR, VWAP, MA, EMA, SQN, Ichimoku Clouds or whatever are worthless
Without an understanding of price action and position sizing, the above indicators will wipe you out
In the hands of someone who understands price action and position sizing any of the above indicators or philosophies are damn useful
Indicators are like stop signs, green lights and lanes on the road
If you don’t drive a car this stuff really doesn’t ad all that much to your life
But if you do drive a car, the stop sign or red light is very useful
Indicators give a false sense of confidence, you see a MACD crossover with the RSI above 80 and you get all bearish, going all in short because “we are due for a correction/recession” only to get wiped out as the market continues to put in new highs
What if you understood what the market was trying to tell you
What if you didn’t need to believe that the market needed to correct on a MACD crossover or a ZeroHedge headline
What if you could tell that bears were trying their best but the bulls were buying hand over fist
What if you didn’t have to blow up your account every year to learn these lessons
What if what everyone was talking about on Twitter didn’t have any positive effect on your account
What if the big conspiracy theory guy might be right, but bulls don’t care
What if you could know more about the direction the market was going with 0 indicators than with 5
It is your obligation to figure this out
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