Trading without indicators.

In Forex, there is a category of traders who, for one reason or another, do not want to use technical analysis indicators; some cannot cope with setting them up; others simply do not trust other people’s scripts.

For such players, there is trading without indicators, which is in no way inferior to trading using technical tools, and in some cases even surpasses it in terms of effectiveness.

Trading without indicators is the opening of transactions based on data obtained as a result of technical and fundamental analysis, carried out manually.

For many, this may seem like a daunting task, but in fact it simplifies the entire trading process; all you need is logical thinking and access to information to succeed in trading.

Sources of data for analysis.

• Currency pair chart in your trader's terminal, by changing the scale and time frame, you can get access to a fairly long historical period of rate movement.

• News feed and Forex calendar - the first talks about events that have already happened, the second reports about planned news.

Trading process without indicators.

• We determine the minimums and maximums of prices on a given and older time period.
• We draw a conclusion regarding where the price is at the moment, how close its position is to the minimum or maximum.
• We determine the direction of the trend and its dynamics, the magnitude and frequency of correction.
• We analyze the events that caused the trend to start and how long ago they occurred.
• We draw a conclusion about the current situation and the entry point into the market.

In practice it looks like this.

Over the week, the minimum price value for the euro/dollar pair was 1.2500, and the maximum was 1.3000; currently the price is at 1.2550 and continues to grow.

The reason for the growth was the message released an hour ago about the improving economic situation with the European Union. Based on these data, we can conclude that there is a fairly strong upward trend, we enter the market after the next correction, and a buy deal is opened.

The article provides one of the simplest options for trading without indicators; if you wish, you can build support and resistance lines, use candlestick analysis, or use a news trading strategy .