Quote from wally_:
trade successfully using indicators, some people can trade successfully using the price action only, most cannot trade successfully at all... It does not matter what you use, but how.
Agree...
there are too many traders that aren't good at using something and immediately assume nobody else will be good at using it...
regardless if its price action alone methods or indicators.
Think about it...these types of questions are
consistently being asked here at EliteTrader...
Do indicators work?
Do MACD work?
Do Stochastics work?
Do Pivot Point Analysis work?
Do s/r level analysis work?
Do candlestick analysis work?
Do level II analysis work?
Do Time & Sales work?
Do Market Depth analysis work?
Do sector analysis work?
Do chart patterns work?
whatever.
As always...those that couldn't use something successfully show up to say it doesn't work...
the silly ones go as far to say it won't work for anybody else.
I don't know how to program my VCR...it doesn't mean that everybody else won't be able.
Further...if its an issue about which lags the market...
both methods lag the market because both methods requires waiting for confirmation.
The only time indicators or price action only methods don't lag the market is when traders...
anticipate the market and take positions prior to any confirmation.
In fact...I've never met a successful trader via either methods that consistently takes positions prior to any price action only method confirmation or prior to any indicator confirmation...
I would consider trading without any kind'uv confirmation is gambling.
(please don't start a debate about trading versus gambling)
Been there...done that.
Something else...many traders have different definitions of what is a price action only trader.
For example...if I see someone calling themselves a price action only trader and they use volume...
I don't consider them to be a price action only trader.
I've only met personally one true price action only trader that had nothing but price on his chart...
a candlestick trader with no trendlines nor anything else.
I tried it...couldn't do it
(losses) and found it to be extremely stressful trading.
He understood that candlesticks themselves represented s/r levels and their own form of pivot analysis.
As usual...whatever works for you...keep using it.
Thus, traders that are successful at one or the other or both...
usually understand their strengths and weakness of whatever method their using.
And both price action only methods and indicators have lots of weakness.
I use both methods (indicators and price action only)...
neither has an advantage over the other for me.
Traders that did not take the time to find out why something doesn't work for them while working for others...
really doesn't understand how different traders are from one trader to the next.
NihabaAshi
