Trading with or without indicators
| Trader Blog - Forex Journal | |
 Trading naked? In a trendy market, traders look for retracement to re-enter a position and using momentum indicator as a 'guide', follow by looking for 'critical' support or resistance level, one can minimize their risk. By looking at trend indicator, for example on a uptrend, you will look for a price dip to buy again (selling is out on an uptrend). Price action such as candlestick formation, or using Fibonacci to determine support and resistance levels are also useful to increase your probability. Interestingly, all these are based on personal belief on how the market works. It doesn't matter if you are trading naked or with clothes (pun intended), there is no right or wrong way, for as long as the system works, continue to use and trade with confidence. With or without indicators, you must be comfortable with your trading system. | |
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