Keep Your Trading Simple, Avoid using too many indicators

Keep Your Trading Simple, Avoid using too many indicators

As a forex trader you soon realize that the use of indicators in trading is sometimes counterproductive. Most profitable traders will tell you that the best indicator is price, and that every other indicator on your price chart is a derivative of price itself. And in the trading world, where getting in before everyone else does is often the difference between a profitable or losing trade, then I would contend, that we must try as much as possible to trade using naked price charts and study price action from our charts.

Trading does not have to be complicated. If you can learn to read price action and understand the basis of price movement thru supply and demand imbalances, you will be well ahead of 90% of forex traders out there.

But if you are one of those traders that must have their favorite indicators on the charts, then I would suggest that you narrow it down to just 1 or maximum 2 indicators that you can use and rely on for confirmation. Anything more than 2 trading indicators on your chart, and you are really just making the trading process more distracting that it needs to be.

Hopefully, at some point in your trading journey, you will be able to concentrate on price action alone, using basic support resistance zones and supply and demand levels. I think you will find that this will not only help simplify your trading, but also serve you better from the overall profitability standpoint.

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