Thought of the Day…

I keep on getting good quotes from Rick (@tweeterTrades) so I don’t have to dig into my reserves ;-):

“Price is the only truth in the market, anything else is a lie, a damn lie or statistic.”

I am sure this will be another good one for discussion and to a certain extent, I have to agree.

I really believe that most traders would improve their performance by taking a lot (if not all) of the indicators they have on their charts off and focusing on price action and support/resistance. Please note that I wrote  ‘have on their charts’ and not ‘use’ …

3 thoughts on “Thought of the Day…

  1. Support and Resistance are great places to take your profits They Give you the pathway of least resistance Towards ones target , as for indicators well Most of them Do the same thing and are based on an average of what price is Doing so Price really is King .

  2. Exactly, all you need is price and the support/resistance are just reminding you of previous intense price-action fighting zones > price, price, price!

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