 Hey guys and welcome back to this amazing YouTube channel. My name is Dapu Willis as you already know I'm a serial entrepreneur who just loves to make money on the internet predominantly and primarily you guys already know I'm a forex trader and I like to come on here and share value share information for free Just because I feel like I was born to just show and share as much knowledge and as much passion as I can so guys Without further ado today What I want to discuss with you guys is how many indicators should you be using for your trading my guys? You have to understand that a lot of you guys I know a lot of you guys are using a crazy amount of indicators Indicators can be very confusing because this group of people are telling you this indicator works very well This person is telling you combine this guys if I'm gonna calculate the amount of indicators that I've used in my life So far in my trading career for the last nine years. I've probably used well over 700 different indicators and the truth is Okay, let me know let me not trash indicators, but I'll just tell you the truth How many indicators should you be using for your trading that's exactly what I want to discuss today Let me know jump the gun, right? But before I get into the nitty gritty's of today Guys you have to understand that these videos take me a lot of time a lot of research a lot of energy Oh my god some days. I just want to freaking sleep However, I have the obligation and the duty to come on here and give you guys some fire information and some value So all I need from you guys to do is to smash the subscribe button Smash the like button right there and don't forget to drop a comment It helps the channel grow once the channel starts to grow and motivated to make more free video for you guys I will ultimately help you become consistently profitable traders. That's the goal So guys without further ado, let me jump into the into the into the meat to the meat of today So the question is how many indicators should you be using for your trading before we get before we? Answer that question. Let us first Define what an indicator is an indicator is pretty much a computer program Based on mathematical Imputes, okay, let me break it down So it's nothing but a program, okay that calculates setting Price movement in the market That's what indicators are and it uses Different colors aligned to represent what has happened in the market Okay So the market is moving from this price this price all the indicator is doing is it's taking those digits and Plotting it on your graph for you. Those are what indicators are Okay, they take information based on previous price performance based on previous price Basically, it's price. Okay price behavior and based on the behavior based on the numbers that they get Okay, the indicator now plots it on your graph Now the essence of indicators is it is supposed to help traders make better trading decisions It is supposed to aid us. It is supposed to help us You guys have probably come across me And where I'm always talking about in the case of the world I will explain that to you in a bit, but indicators are actually built to help us, but the issue now comes where These indicators are Freaking in the number of 1000 2000 5000 different indicators and the issue really is how many indicators should you be using for your trading? There's so many of them out there and guys that bringing back to my point a lot of those indicators Are nothing but distractions. They will distract you from your end goal because Why? There's too many of them. Okay, so anyways, let me not let me not digress Let me let me not digress Let me go back to the point. How many indicators should you be using for your trade now? What are the purposes of indicators like I was saying earlier the purposes of indicators? Like I said are to are to pretty much guide the trader to help you make better trading decision Okay, to help you identify trends to help you identify entries to help you identify exits Okay, there are indicators for all these things. Okay, and like I said earlier the issue now comes where you don't know Which indicator to use for what I'm telling you this for free for a fact because I I'm a trader. I'm in this industry. I'm in this market, right? And I've been in your position before whereby I was totally confused as to which indicator I should even use in the first place Okay, so my pure and my pure and sincere advice for you guys is and I speak to you guys from the bottom of my heart Yes, you can use indicators. However, I always encourage people to use indicators as an after effect What do I mean by this in this game? Price action is king Whatever and however it is you choose to look at it price action will always beat any form of indicator Indicators are man-made Indicators are algorithms in the you know algorithms. They're they're programs basically, right? They're oscillators, right? They would only perfect the only Indicate based on what the market has done previously, right? so It's lagging. It's only gonna tell you what has happened before However, price action how price is currently acting at the moment would always give you a better Perspective on what is yet to come and I will explain to you why price action will always give you a better perspective price action will always give you a better perspective because The people who move the market the market makers the movers and shakers of this market repeat the profitable traders The guys who have the money 400 million dollars 500 million dollars 1 billion 2 billion you know you guys are always hearing that For its market trades for trillion dollars a day Those guys who are trading the massive volume don't use indicators Okay, those guys are long-term price action traders now. How does this? Benefit us think about it if the people who move the market who move euro USD are Trading with price action if they're using support resistance Fibonacci, you know the basic price action tools if they're using those tools to make their trading decision Don't you think you should also align yourself in that direction because if they say you were USD should go up It goes up think about it if price action is saying Euro USD is going up and your indicator is telling you it's time to sell What do you think is going to happen to euro USD? Euro USD is going to go up because the people who move the market are price action traders and the market is going to go up And then you're going to be stuck in a cell tree because your indicator told you to sell So this is exactly why I always preach Price action first now like I said go back to the topic. How many indicators should you be using to be honest? I think you should just be using one. Okay, sometimes not Now what is the indicator that you should be using for your trading? To be honest out of all of them. I still prefer moving average moving average is the guy moving I can I can live with moving average, right? I can live with moving average because moving average You know, it doesn't really interfere with my trading because guys indicators are assigned my these they get very confusing But with it with a moving average, it is just there one line across my chart smooth easy Now, how do I use moving average or how do I use my indicator in conjunction with price action? I'll tell you what I do now I use moving average for about two or three reasons first of all moving average is a fantastic tool to Basically Identify the trend. Okay, you can use it 200 moving average on Weekly and a daily timeframe for instance, if the Market is trending below the 200 and moving average on the daily time frame It gives you a good idea of where the market is trending towards if the market is this is a 200 moving average And the market is beneath it. It tells you that the market is bearish Okay, the trend is going down, right? So if the moving average is telling me that the trend is going down my brain knows that okay I'm only looking for sell opportunities Okay, however, I will still look at price action because Price can come beneath the 200 moving average But just be a retracement of a move that wants to go higher. I'll take that again price Can deep below the 200 moving average and tell you is bearish According to moving according to indicators. That is a bearish movement, right? However price action will show you that yes indeed It is temporarily bearish because it is pulling back because traders are taking profit and The market will most likely want to go higher price action give you the whole picture Indicators, you know, they just tell you based on Based on I don't even know what they even tell you so guys. I hope I'm I hope I'm making sense I'm struggling to explain this a little bit because I'm not trying to bash Indicators at such it's just that I have used the indicator I used to have my strategy before was a moving average crossover strategy and that brings me to my second My second my second things speak about indicators, right? Indicators are good to identify trends. However, always look out for price action based trends higher highs So for instance, if the market is is below the 200 moving average on the daily time frame Look at the price action. Is it making lower lows and consistent lower lows and lower highs? If yes, that means the trend is solid Moving average is telling me bearish price action. Just very basic price action is also telling me is bearish And that's fine. Okay. Well price action will always Will always win over indicators now the second thing that I use that I use Moving averages for is Sometimes I use it to time my entries I'll tell you what I mean For instance, if the market has been in a ranging period for a period of time I can use two different moving averages So sometimes I like to use the 50 and the 10 the 50 and the 50 and the 10 If the market is ranging for a period of time usually what tends to happen is The moving average moving averages might be somewhat apart like this And then when the market wants to break up, let's say it wants to break up lower You usually tend to see the moving average crossover before the market finally commits in a particular direction It is see the market doesn't move because of moving averages It doesn't move because of indicators it moves because it wants to move it moves because of structural parameters in the market I hope I'm making taking time to explain this shit to you guys. I hope I'm making a lot of sense, right? So guys those are the two things that I can potentially use an indicator for to identify trends and To potentially find entries. Okay, so there you go guys One moving average is good to that's okay. Okay, please I urge you guys to try as much as possible to stay away from indicators as much as you can Price action is king in this game. Okay, you must have come across my subsequent YouTube videos of me analyzing the market I'm predicting 1000 peps into the future 2000 peps into the future Indicators can never do that for you only price action will teach you how to do that So guys, if there's any path you want to go down on this Forex market Struggle and learn price action now guys that brings me to the towards the end of my video Okay, I think I've been able to cover everything so guys before I go for those of you guys who want to learn how to do price Action very well as you already know I have an amazing course called the Forex my street program It is my knowledge and experience for the last nine years Core price action the course will probably take you about Seven to 14 days to finish it will put you years ahead of Traders around you will put you years ahead in your trading journey So do the right thing the link to the course is going to be down here below. It's just $99. Don't worry You know, you're not gonna have to break the bank So guys, let me quickly recap obviously the topic of today is how many indicators should you be using for your trading? I've been able to explain to you guys what an indicator is Nothing but a bunch of lines that are plotted on your chart based on historical price historical price Okay, which ones should you be using for your trading? I think moving averages just work fine I use it to determine the trend sometimes and yet on the weekly time frame Moving averages the 200 m a can act as an area of support and resistance Yes, very simple on the 200 and on the weekly time frame if price is touching 200 ma from the bottom chances are that it's going to reject it to the downside if it's on top and it touches 200 ma Chances that I've been about so I noticed from experience that on the weekly time frame 200 ma is As periods of support and resistance, right both guys if you check very well There is most likely an actual support or resistance Dating back to the future that price action has or most likely already shown me so usually indicators are just You know, I just put them on there Let it not be like I did let it not be like I refuse to use indicators and obviously the market gets angry with me But that's just the truth price action is king. So guys Once again, please don't forget to subscribe and like if you found this video very helpful Give me your thoughts. Tell me how you feel should I continue to make videos like this I made these videos just for you guys. So let me know how you feel If you learn anything from this drop me a comment below. Tell me what moving average are you actually tell me what indicator are you using? Okay, I want to know what combination of indicators are you using? I like to know Okay, engage with me in the comment and I'll speak to you guys catch you guys on my subsequent videos Take it easy and God bless you