Indicators?

we all know..that indicators lag and are not very helpfull cause they just tell ..where u have been...and dn't give a clue where u are headed.
i have heard that many people don't use indicators. my question is....wat do they do then? are they seeing fundamentals....price analysis......chart patterns...candlestick formations? i tried using no indicators....and the result is....i have no clue as to what is happening. this mayb due to the fact ..that i is a newbie.....but still..i see a chart..and i am blank. i read james chart thread and a few others....they are gold...but still i cn't get a hang of using them without any indicators
like to ask the experienced traders here. i know there is a way ...of not using any indicators...but still being able to see the market. how do i go about it? where should i concentrate my energy and thoughts so that i can get to it? all inputs are appriciated.

gabroo

p.s. mayb i am thinkin too ahead of myself......slap me into reality if i like

The best advice that I received here at the factory is to do what works for you. I got too caught up in information overload, which included trying to understand indicators, and it all boiled down to using simple support and resitance. A candle below/above - support/resistance COULD BE your next trade. I say COULD BE because that's what trading is all about, knowing when to get in and when to get out. The pros here at the factory are well versed enough to teach us, the wannabees, how to use indicators and whatever else it takes to know when to pull the trigger. So just chill, all will be fine.

Oscillators are good during sideway markets. but it is difficult to find out when suddenly trend begin. I prefer you to use MACD with ADX. Macd is oscillator and ADX is showing you trend. I attached file. ADX shows that trend began and MACD supports that.


I recommend not to use only indicators.

Jim16's thread is great. I learned a lot of him too (pin bars dbhlc, dblhc)

Always look at pivots, fib levels, trend lines, figure formation (triangles, head&shoulders, wimpels, flags). moving averages are great too, especially exponential.

But do not be confused, use simple and effective method.

Try to follow these learning steps for an indicatorless-approach:

1) Start off with trendlines (fan trendlines are my favourites). Draw them all across those blank charts in order to have a sense of the market's direction. The are the number 1 tool any trader's got. No indicator can touch basic trendlines. Be patient and DO look for trending pairs, and ONLY trade in the direction of the trend. There are a number or currencies pairs to monitor, and there are always a few of them trending nicely. No need to mess around with erratic or range-bound pairs.

2) Then move on and learn about fibonacci retracements, putting special atention on those that happen at 38%, 50% and 61%.

3) Move on and learn about pivots: pivot-breakouts and specially pivot-bounces.

4) Then find areas where pivots AND fibo retracement levels cluster up together. Those are good places to monitor for a possible bounce and thus a possible entry.

5) Finally, learn about the different channels and price pattern breakouts. They are powerful tools and fairly universal across all markets.


There is no need for indicators in my opinion.