In this thread I will talk about why indicators should not be used to base trades on. I will discuss the reasons that they are not a reliable trading tool.
I was at the Forex Expo this weekend. I went to several meetings where they pitched elliot waves,emas, fibo's, mac d. I am going to tell you why these indicators are a trap.
I went to one meeting where the second comment they made was this. The more people that use the 61.8% fibo level the more reliable it becomes. I cannot think of another statement that could be further from the truth. That was a flat out lie. the worst part is this group had 35 people listening to them teach falsehoods.
I welcome discussion on the topic. This should be fun. I will also talk about how reading a chart, and price action is the way to become a consistant trader. You have to look at the bigger picture what is going on behind price.
Questions are welcome I will answer them all.
I was at the Forex Expo this weekend. I went to several meetings where they pitched elliot waves,emas, fibo's, mac d. I am going to tell you why these indicators are a trap.
I went to one meeting where the second comment they made was this. The more people that use the 61.8% fibo level the more reliable it becomes. I cannot think of another statement that could be further from the truth. That was a flat out lie. the worst part is this group had 35 people listening to them teach falsehoods.
I welcome discussion on the topic. This should be fun. I will also talk about how reading a chart, and price action is the way to become a consistant trader. You have to look at the bigger picture what is going on behind price.
Questions are welcome I will answer them all.