How Using Indicators Can Make Your Trading Easier
Podcast: Play in new window | Download
Subscribe: Apple Podcasts | Spotify | Amazon Music | Android | Email | TuneIn | RSS
Because this podcast is brand new, I’m going to be extra generous and give you, for FREE, Top Dog Trading’s “Top 10 Trading Rules for Success.”
These Top 10 Trading Rules came from the street – Wall Street to be exact! These are 10 things I changed in my trading to become successful over the last 50 years.
Yep, you heard that right, I’ve been trading for 50 years.
These are also the top 10 things that have helped my students shift from move from losing money to making money.
Bottom line, no general theories or abstract ideas here. This is the practical stuff that can really work to bring real and dramatic change to your trading results.
It’s a mini-course that contains a pdf Special Report and 3 videos. Get right now by simply going to: http://www.onlinetradingtowin.com/tenrules
Go get it for free while the show is still new.
Some say don’t use indicators because they’re all lagging. These are the people who usually brag about being purists because they just trade price action and volume.
Price is not leading
Volume is not leading
In trading we’re trading what’s happening NOW – specifically looking for the balance of supply & demand at the moment you take a trade and then continue to monitor that supply demand, bar-by-bar, and when it changes, you exit.
Trading with guys in Chicago and traded their method with my indicators.
So how could I do that? What advantage did my indicators give me over them.
First let’s be clear what they they don’t do:
They’re not magical.
But they aren’t “Money Makers!”
So no one indicator makes you money.
They’re not magic, they’re math.
So never wrong.
They map things on the chart, create easy to identify patterns, that are easier for the average person than reading pure price action or reading the tape.
We all get same readings. Software that identifies price patterns are notoriously problematic.
Benefit is we can create rule based trading system with them.
Trade objectively
Take guess work out and stress out.
Trade with precision and accuracy.
So let’s bottom line this puppy. Money in trading technical analysis is made by watching 5 non-correlated energies. Of money flow.
Non-correlated is the key. Not just 5 indicators.
What the indicators are mathematically measuring is the Money Flow in the Market in Real Time.
We’re not pretending to predict the future. We simply align our positions with the dominant money flow of supply and demand. You’ve heard, the common advice about living our lives: “go with the flow.” Good advice.
In trading, we do the same thing, but we “Go with the money flow” of the smart money. I call it “hooking your wagon to the whales.” And indicators give you a mathematical measurement of the dominate direction and strength of the money flow right now – at the time you take your trade.
Because it plots or maps the dominant money flow on a chart for easy pattern recognition, it’s easier for beginning and advanced traders to use, reduces the subjectivity of reading pure price action and in turn reduces mental overwhelm and stress.
