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I completely agree with K.I.S.S. I have studied almost every indicator and have come to the conclusion that the best system is watching and understanding how price behaves with just a few support, resistance, and trend lines. After observing price failing to make a new high in an uptrend or failing to make a new low in a downtrend, I can watch for pullbacks or retracements and trade accordingly. I can see the market much better than using a bunch of lagging indicators. |
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The day my trading turned around was when I took all indicators off my charts. Now I trade with a candlestick chart only. No moving averages, no indicators, and no volume. I read volume through the tape and I use a market profile chart as well as market internals to trade.
Price action is king. But it takes hours and hours of staring at price to fully understand price action.