I used to be a huge proponent of indicators.
Heck, at one point in time, I may have owned every single indicator out there on the market.
Let me tell you… It became excessive! Confusing, messy, stressful…
And there was really only one way to get the indicators to work, which was to do some form of analysis beyond just what the indicator offered.
What did I need the indicator for if further analysis was needed for it to work anyway?
So, then and there, it was crystal clear to me that the indicator(s) were no longer needed.
I decided it was time to do something different. It was time to get intimately familiar with the market and price action.
I was going to do all of my analysis by hand moving forward….
That’s what I set out to do, so I again invested in some formal education to learn how to do just that.
It was in fact another learning curve, but this was the one that I got to take with me and the one that I only needed to rely on myself to employ.
It all starts with a simple trendline, which is probably the very first thing you as a trader learned how to draw on your chart. And my skill set simply grew from there!
Don’t get me wrong… Indicators are great when they work. But that’s the problem… They don’t always work.
Remember, market conditions are constantly changing.
I needed something more consistent… Something that got me in the market when things were working and, more importantly, kept me out of the market when things weren’t working.
The current conditions we’ve been experiencing the past several weeks and months have been less than ideal.
Indicators struggle during these times.
While the opportunities I’ve been short on have worked well, I’ve been out of the market for the most part.
I designed my conservative approach so that my analysis and trade plan keep me out of the uncertainty and in the opportunities.
Of course, there is no Holy Grail or trade plan or approach that is perfect.
But I’ve found for myself that I can do better with just me, the chart and my plan than I can with indicators.
I believe you, too, may find the same success if you give yourself the chance to learn the skill set and master the methodology of approaching the market in your own way.
Take the Next Step
If you’d like to learn more about my approach, I highly encourage you to check out my premium trading service, The Speciale Report, which focuses exclusively on the crude oil markets.
We trade it in the futures, ETF and options markets, all of which give members the opportunity to trade at their comfort level.
That’s the beauty of The Speciale Report’s trade ideas… We accommodate all styles of traders. There’s really something for everyone.
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Rules to Live By
“Kindness is a language which the deaf can hear and the blind read.” Mark Twain
Until next time, I wish you a beautiful and blessed day!
Yours In Trading Success,
Anthony Speciale Jr.