hello traders its a samurai trade hear welcome to this training session today
we're going to be covering a lot of information and if you don't already
have so please grab your notepad your trading journal and be ready to take
some notes so in this particular session today we're going to be talking about
day trading their futures and forex markets we need some different charts
but probably one of the most discussed topics in the trading world is do you
really need indicators and of course around the wall we have thousands of
educators that are selling their you beaut indicator quite often for
thousands of dollars all respect to them by the way because are using indicators
but I can also show you how to trade without indicators and for newer traders
this actually may help you a great deal because let's remember that when it
comes to trading the more that we have on the screen the more confusing it can
become so before we get underway if you haven't seen one of my videos before
please read the risk disclaimer very very important that you understand that
you never trade with the rent money if you haven't already done so if you go to
full screen down in the bottom right hand corner you click on the box and it
will go to full screen for you and of course all of this and a whole lot more
I cover comprehensively in the day traders fast-track program now it's now
over 20 hours of recording this day of his cheat sheets on the different setups
that I have but for a hundred ninety seven dollars you get the world's best
day trading and swing trading strategies traders don't spend thousands of
dollars maybe you already have and you need to turn your trading around I'm a
day trader I trade every day I do this right educate traders because I'm
passionate I love trading and I get a buzz out of it that's why I teach so
it's my passion so keep your dollars in the trading account but before you do
that it's a tiny investment and it will turn your trading around so let's get
back to the topic I want to talk about is that indicators
now most traders particularly new or traders suffer from what we called
information overload it's a little bit like learning how to drive a car I
supposed learning how to trade for the first time if you go back all those
years ago for me is that when I first got in i do i learnt to driving a stick
shift in a manual you know you've got to use the break the accelerator the clutch
you've got to change the gears you've got to look at the road use your
indicators I mean it really is quite daunting yet after 30 or 40 days it
becomes quite natural however for traders particularly because most
traders don't have an instructor or they don't have a coach it can be confusing
for a long long time because we're going to try to learn all of this themselves
now if we consider Einstein I love this statement here small as a number of
people who see with their eyes and think with their minds trading of course is a
game of probabilities stacking the odds in our favor and what stacks the odds in
our favor are patterns patterns that appear in the markets every single day
now the indicators at times can confuse these patterns particularly if we
consider trading divergence because you can quite often have divergence on price
and on your indicators but yet the market kicks up and keeps with the
trends so we're going to be looking at that and discussing a few things here
now a very important thing which you'll hear me talk about in virtually every
video is this is that master one set up before you move on to another and as you
are aware over seventy percent of my traders or students that I have our
experienced traders and the professional traders I work with if we have to
retrain you or perhaps if trading hasn't been kind to you up till now you really
need to go back to the drawing board start with one set up master that set up
and I love what nieto Cobain says here nothing can add
let me say it again sorry nothing can add more power to your life than
concentrating all your efforts on a limited set of targets how that relates
back to trading focus on one or two setups and you will master the art of
day trading I promise you but what you got to do is practice discipline so
let's go and have a look at some charts and I want to show you a few things and
explain a few things so the topic today is do you really need indicators well
down the bottom here what I've got here is a MACD and macd now MACD's
traditionally used in two main ways is for a trend discover which way is the
market trending and for divergence etc so we can see here that we've almost got
a double triple top across here and my platinum what I call platinum is falling
away so we got divergence however is it always right absolutely not and for new
traders it can become confusing so you know you don't as we are going to be
really covering this and looking at some indicators that in many ways are not
indicators if we look at what are my four lines here my four lines here are
moving averages now i use moving averages for trend direction they're
easy to see they don't take a lot of thinking when we look at them compared
to down the bottom here I've got my stochastics and my macd so if we're
trying to read these and read price action for a newer trader particularly
you can become overwhelmed by the way what we're looking at here is the euro
USD five range chart so the biggest thing when it comes to trading is
pattern recognition now what I'm looking for here and really looking at what the
floor trade is an actually let me let me go back one step let's talk about for
traders floor traders in the exchanges of virtually extinct now most of the
open crop kits of course are gone and it's all computerized
but when it comes to a floor trader methods they didn't have indicators and
if we look at some of the professional institutional traders now though we'll
simply trade with the trend they look at volume but they don't have indicators /
safe I don't have the things that we see being sold for five and ten thousand
dollars now they're not usually using the stochastic saw the macd's they
may use the the moving averages but they're waiting for pull backs and so if
we look at the chart that we've got here look at this you can see here science
line that's an 89 EMA you can see price comes down test it and what is that
that's support so we can see here that the 89 is acting as support and so one
of the things you may do here is this and this is a floor trader method we can
see here we've had a pullback to support we're going to wait for a breakout up
here take kind which is what it does and away it goes let's do another one
and we can see here we've had a pullback we've pulled back to the 34 we're broken
above it and we enter the trade on either a tick above this higher this
candle here or on the close of this one and away it goes in fast-moving markets
where normally i'm looking for a 2 to 5 candle pull back you may only wait you
may be willing to go with simply a one candle pull back as what we've had here
and wait for the high to be taken out and let's do it again wait for the high
to be taken out now traders i'm not even referring to my indicators down the
bottom here all I'm looking at is what is my 8 EMA a telling me along with my
longer-term indicators now further you move away from these indicators the
moving averages the more likely you are to have what we call a snapback a
pullback to price and the yellow is the golden number 34 EMA you can see we've
gone up we've had for my for my students I know
this is at T89 ups pull back nicely this a nice profit in that one but then we
had a breakout but then it fell right back here tool we bounced off the 34 and
that was profitable once again we're not looking at the indicators down below so
getting back to the original question is it possible to day trade successfully
without indicators absolutely with the exception the indicators i would use are
my moving averages for trend direction and also to keep me in the right side of
a trade now what do i mean by that one of the rules that i have in it's a
really simple rule the blue line you can see here is my eighth EMA is that for a
short trade i have to close under on or under a the or the eight EMA and look at
that there we go all the way down here and we close above there's of is really
two or three days profit if you had a waited for a closed above but putting
that aside we can see here we've come down and we now bounce off the 200 EMA
where i can look for long trades as long as i close above the eight EMA so you can
see here I've had a pullback where can i re-enter well II for my trade is my
experience rate is no this is a classic 34 bounce when we close above away we go
so here close under close above close above close under now I'm just making it
simple trader so don't want to get too bogged down here with this today but we
can see here we closed under away we go and this is we know is a classic a
t20 we had a classic t20 when you're under the 8 EMA a short when you're above
the 8 EMA long's only this simple rule of trading either above or below the
eighth EMA is probably seventy percent of your trading success if you
follow the rules so traders do you need the indicators no you don't but where
are we or where do we use them well indicators are tools where I will still
use these sort of indicators is for divergence trades now divergence trade
is where I have a classic divergence is a higher high in price we've gone up
pull back so what we got there we've got a t25 traders nice winner goes up I've
got a higher high in price and a low a high on my macd and then of course that
is a classic our divergence trade however they still fail a lot and it's
an extra indicator for a newer trader to learn down here we've I wouldn't be
using the platinum in this particular case we've had a great pull away this is
actually what we call a T89 setup just here to be safe wait for close above the
eight and away we go not even using the platinum here this is a classic
slingshot at t2 as we know it traders so we can look down here the new traders we
can see here it's also a 34 bounce but just using the eight and a close over
the 8 EMA we don't even really need to refer to this if you want to be really
simply simplistic so a lot of traders like to use indicators as if you like
their baby blanket a little bit of comfort but your original floor traders
might have used the 8 EMA of 34-foot trend direction only they're going to
buy the pull backs okay so we pull back and they'll buy that's how they traded
so traders I cover this and a whole lot more in the day traders fast-track
program if you haven't already subscribed to my channel please do make
an investment in your future purchase the day traders program I cover this in
a whole lot more I'm dedicated to your success as a day
trader you can do this with the right education and no BS you can do this
Thank You traders