With everybody going nuts over all the latest fad forex trading systems that are loaded with indicators, it’s easy to get caught up in all the hoopla. But for anybody looking outside in, they must be wondering if its possible to be rich trading forex without using indicators?

To answer this question, you only need a little bit of a history lesson and study the most famous investment traders in history.

Look at famous traders like Jesse Livermore. Livermore became a multi millionaire trading the stock market at the turn of the century. He was just be at the market floor trading shares just based on price action.

This is somebody who did not even have a chart to follow. The only thing he did was pay attention to how the other floor traders were trading the stocks and how it was affecting the price. Pretty impressive considering he didn’t even have a simple bar chart to go off of.

If a trader at the beginning of the 2th century can become rich trading without any indicators, or even a chart, what excuse do you have?

If you think about it, is there any other way for you to truly understand what the market is doing besides trading just the price action. Think of all the indicators most people plaster all over the charts. Can you really explain what 3 moving averages crossing each other actually means? The truth is nobody can. It’s the same case for any of these popular indicators. They may know the rules of how to trade them, but they don’t have a clue what it actually means.

If and when you have the courage to wipe away these indicators from your charts, then you’ll get an opportunity to understand why the market moves the way it does. You actually see it as energy that is constantly moving.

When you’re able to see the market this way, there is no way that you’ll ever go back to using stochastics.

Related posts:

1. Trading Without Indicators – The Steps You Need
2. CFD TRADING without Indicators
3. The Power of Trading Forex Using Price Action
4. FOREX Indicators- Should you use them?
5. Price Action Trading and The Reason Why The Pros Use It

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