Is it possible to trade BO without indicators?

unknown

Hi there, I have been looking around and every strat seems to be in one form or another using multiple indicators. I am wondering if its possible to learn how to trade without them?

lotzofbotz

Most of my trading does not require any indicators just my brain and pure price action... An indicator just indicates markets are non-linear that means they are complex systems like weather. Sometimes its windy or cold or hot or dry or rainy or humid and combinations there in of. From there learning to use your brain to judge the weather is what will keep you from wearing the wrong clothes/indicators/systems/methods ect ect. So ultimately indicators don't mean much they just indicate kind of like a wind chime right? Is a wind chime going to tell you when a hurricane is coming not likely but then again if you see it stuck in the side of your house might be a good INDICATION of something wrong lol...

Raiden

Being able to trade successfully using price action alone is the ultimate. This would be refer to trading a naked chart. The only "downside" to this is that it will take time and patience studying charts where you will be enabling yourself to start identifying patterns, movement, candle type, support and resistance, etc which in turn will help you to make higher probability trading decisions. Unfortunately there is no easy way to grasp this concept of trading. But once you have your light bulb moment, it will be with you forever.

Okane

Of course!
The indicators are just for extra confirmation or guidance.
Unfortunately most newbies take it the other way around, thinking
that indicators must tell them what to do. This is due to lack of
experience, if you don't know what to look for you will completely
rely on indicators.
As stated above; price action is the way to go. Nothing wrong with some
extra confirmation using one or two indicators but don't overdo it.
I think a maximum of 2 is good enough if you can read charts.

lotzofbotz

Because of all these idiots using all these different systems and indicators pretending and I repeat pretending they can trade on chat rooms like BOE or these UOP noobs. I went and hand held a person who is still learning gave them one pair to trade with 1 indicator and a set of rules with money management and I will share that video soon the results of live trades they did. Now it took them a long time to get to the point where I would agree to show them how to trade the 60 sec and it had nothing to do with indicators but rather how they built their psychology/experience up with previous trading in the higher TFs such as the 15-30 then 5 min and last 60 sec... But they listened and I think they are there, next they will trade with a live account starting small and slow to see they repeat the results of the overall statistics that its designed to achieve. Most of trading is knowing what is really there vs what you wish to be there and the struggle back and forth of knowing the difference between the two...

unknown

Hmm does anyone know any specific place where i can learn about it?

lotzofbotz

To learn about price action yes its called the market.. I guess the only faster way to learn it is to sit with a real trader day after day watching and listening... Example all of yesterday I spent the morning explaining how I was seeing the price action in the livechatroom. Often traders like my or Bryan will first look to see the price action of trade setups first before we even decide how we will trade and what leverage activity we will use. If we see the market for what ever method we use is active and seems to be hitting setups left and right then we become active and hit setups left and right. If not and the market seems slow or trendy then we become slow and trendy maybe reducing our trade size and activity to be in alignment with the market...

Okane

unknown said:

Hmm does anyone know any specific place where i can learn about it?

By spending hours, days and months looking at the charts. The hard way.
But yes, like botz says you can speed up the process by following some pro traders.

debeloved07

l still hold on to my appeal, with the guru in this forum l believed an outline or scheme for newbies can be developed so the zealous and interested ones to learn can follow step by step. Every super star started as a rooky.

unknown

Okane said:

unknown said:

Hmm does anyone know any specific place where i can learn about it?

By spending hours, days and months looking at the charts. The hard way.
But yes, like botz says you can speed up the process by following some pro traders.

Any gurus wanna start off this process?

BryanMac

Me and Lotz are in live chat every day, we both trade with a distinctive style, Lotz PA, Myself Technical.

http://www.binaryoptions.net/chat/

thebotarmor

Trading is the direct results of majority's psychology. Human nature psychology didn't change much for the past 20-30 years, the conditions we are living at changing yet our brain structure and the way it reacts to things, remains same pretty much.

That means that our response to what we see on the charts will remain pretty much same as 25-30 years ago. So the market will have repeating behave no meter what, it will change time to time and rotate back to what it was and change again but overall it will always be pretty much same situations in different rotations.

Now, watching the charts enough time will give you the chance to study what people do at each market condition, what moves the market? its the majority and if you understand what majority does at the certain market conditions, you know whats your next step is by following the price movements, doing what market does which is what majority does.

Nothing wrong in using indicators, long as you use it as indications but not as entry excuse. Indication helps you read the market until you can read it purely within your own naked eyes - then it called naked trading.

For start, be ready to lose your trades and be ready to lose your trades for 1-3 years, otherwise if you aren't ready, dont start. Those who won't lose, are exactly those who won't learn.

Don't believe to many of those "dream traders" that making 10K/Month after 1 month in trading, its in most cases blind scam / lies / spam.

Furthermore, I dont consider binary as real trading its here now, it might not be here in the future, remember binary is not real market, you trade against broker's money not against the market traders. It's good place to start due to challenges it brings but going forward in your trading career, certainly Forex is something you wan to look at for a longer run perspectives.

Hope you do be profitable and happy in your choice!