Trading with indicators and analysing the candle sticks without indicators

[Lightmanalmani]

Did you just say "you cant" na na, indicators can confirm but not dictate your trading decision, what happens to patterns, trend lines and studying the candle stick as to determine  direction, you might not be all certain with that, that's why you might need a confirmation. I have actually met traders that don't confirm with any indicator, they deal with the raw chat. Well people are different and what sorts for them too.

You can trade by reading candlestick patterns, as previously stated, depending on your strategy. Indicators will help you confirm, but still it depends in your strategy. Some other trader they combine candlestick and SMC strategy or depends on the price action those strategies doesn't need indicators to confirm the trend or the price movement of the current patterns.

Watch this video until the end about candlesticks; it should explain how to use candlesticks with other strategies.
- https://youtu.be/bZ3pffta3-A?si=JkC5Gi-wrvFrau8Q

Thank you for this video, it gave alot of credence to my earlier post and aligns with my strategy  though in combination with other strategies and confirmations

[SamReomo]

I feel having alot of indicators can be really misleading.Just my opinion, does anyone think otherwise?

Nope, the indicators are very important for traders and personally I always use indicators for trading and those have been pretty helpful for me. I believe a good trader should read the charts and then do some work on technical indicators and in return such traders make good enough profit.

[Rruchi man]

I feel having alot of indicators can be really misleading.Just my opinion, does anyone think otherwise?

Using a lot of indicators will be a problem; decision-making will be harder and more conflicting. Deciding to trade with indicators is a type of trading strategy, but the mistake some new traders make is that they use too many indicators. There are some other trading strategies that do not involve the use of indicators.

A trader who uses price action will consider indicators, while other traders who use other methods like ICT or SMC may not care about indicators.

[Lightmanalmani]

I feel having alot of indicators can be really misleading.Just my opinion, does anyone think otherwise?

Nope, the indicators are very important for traders and personally I always use indicators for trading and those have been pretty helpful for me. I believe a good trader should read the charts and then do some work on technical indicators and in return such traders make good enough profit.

I get your point but my earlier post actually was buttressed on  "having alot of indicators" not really condemning the use of indicators. Don't you think it will might contribute to a confusion when it's too much on a chart?

[Dewi Aries]

Nope, the indicators are very important for traders and personally I always use indicators for trading and those have been pretty helpful for me. I believe a good trader should read the charts and then do some work on technical indicators and in return such traders make good enough profit.

I get your point but my earlier post actually was buttressed on  "having alot of indicators" not really condemning the use of indicators. Don't you think it will might contribute to a confusion when it's too much on a chart?

Yes, I also understand what you mean OP, I am also a trader who also admits and feels that using too many indicators actually makes me confused, each indicator has a different meaning or clue (although not 100% accurate) but you will really feel confused about which indicator you should follow when you use too many types of indicators.

Therefore, for myself, I usually only use and combine several indicators before making a decision, such as RSI and EMA and also with a little knowledge about candle formation, which is when I see a price is in the support area (which I know after I use a horizontal line to measure the location of the trend) and it turns out that the trend in the RSI shows the same thing as well as the EMA that has crossed, that's where I will open a buy trade in some time. So actually the indicator does help but if too many indicators actually confuse you, then of course delete some and use some of them that are most comfortable for you.

[nelson4lov]

As someone that have fucked around with plenty of narratives amd meta in trading, I can say for a fact that the most successful traders I have seen barely used indicators and if they use, it's at most just 1 indicators. The way the use indicators is quite different from how I use indicators and how I've seen other people like me who are not so profitable use them do. Most of these said traders I have seen mainly focus on the price action and doing raw technical analysis with just the price action. They only slap an indicator on if they need to confirm their bias.

[SamReomo]

I get your point but my earlier post actually was buttressed on  "having alot of indicators" not really condemning the use of indicators. Don't you think it will might contribute to a confusion when it's too much on a chart?

Well, I personally use 3-4 indicators and for some people those are still high number of indicators on chart but for me those indicators are essential. I only make trades when I fully read the charts and candles and then I also take advantage of those indicators fully before opening a position.

I'm not someone who trades 2-10 times a day, I actually open very few positions on weekly basis and to be honest, the win ratio with such discipline is still high as compared to those of so many other traders, I know with such discipline one can't earn a lot from trading but it's still better to earn something rather than nothing.

Well, I also somehow agree with you that using 10-20 indicators is not needed and it's something that can ruin someone's trading experience but it's quite normal to use 3-6 indicators as those can sometimes help a lot in having winning trades.

[Lightmanalmani]

I get your point but my earlier post actually was buttressed on  "having alot of indicators" not really condemning the use of indicators. Don't you think it will might contribute to a confusion when it's too much on a chart?

Well, I personally use 3-4 indicators and for some people those are still high number of indicators on chart but for me those indicators are essential. I only make trades when I fully read the charts and candles and then I also take advantage of those indicators fully before opening a position.

I'm not someone who trades 2-10 times a day, I actually open very few positions on weekly basis and to be honest, the win ratio with such discipline is still high as compared to those of so many other traders, I know with such discipline one can't earn a lot from trading but it's still better to earn something rather than nothing.

Well, I also somehow agree with you that using 10-20 indicators is not needed and it's something that can ruin someone's trading experience but it's quite normal to use 3-6 indicators as those can sometimes help a lot in having winning trades.

Lovely..you really sound like quite an experienced trader and I admire that especially where you talk about discipline in trading that makes you strictly adhere to the number of trades you take in a week.  Guess That's a powerful tool alot of traders haven't acquired.