which broker do you suggest to trade
reader’s message
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Sir,
Thanks for your replay .I see your nice example, sir can i use this
all time frame and which time frame are best use for this strategy.
sir which broker do you suggest to trade.
Thanks.
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you can trade all time frame
daily best
broker is OANDA
Price action trading vs. price indicator trading
Price action trading is one of the common trading methods in different markets.
It means trading off a price chart without indicators that are mathematically derived from price.
Some of the common indicators are Stochastic, RSI,and MACD Indicators to name a few.
Static drawing tools, such as trendlines or support and resistance lines that obviously do not change dynamically with price, do not exclude
traders from being considered a price action trader.
Change dynamically with price means depending on how traders have their indicators set, generally the default setting is for indicators to update
in real-time, along with the last price bars closing price.
What this means is traders could be watching a 10 minute bar chart and be witnessing a Stochastic Indicator crossing, or a moving average cross,
or an RSI indicator crossing above 70, etc.
And traders think they are getting a signal to buy or sell, you make the trade.
But, all of a sudden price makes an immediate change in direction before the close of the bar, causing the signal for your trade to disappear.
This doesn’t happen with price action trading.
Price either does something or it doesn’t.
Price breaches the resistance of that bar’s high.
Price does not breach the support of that trend line.
Some traders might say to wait until the price bar closes to make the trade and that way traders know for sure they have got a signal.
And this of course, is where most of the term ‘indicator lag’ comes from.
There are still lots of confusion about whether price action is better than price indicator trading.
But to be truthful, there is no such thing as Holy Grail in the market.
So, every method has its own risks and every trading has to face some risk to be successful.