Trader Dale Volume Profile

Price Action
How do we do that? How do we track institutions? We track them through Price Action and
Volumes. Price Action and Volumes provide us with clues on what the institutions were doing,
what they are doing right now and what they most likely will be doing in the future.
The market is dominated, moved, and manipulated by
just a few big financial institutions.
Indicators
In the previous chapter, I said, that we can predict institutional activity and market moves with
Price Action and Volume. What won't help you whatsoever in predicting future market moves,
It is the aggressive buyers/sellers with their MARKET ORDERS who drive
are indicators.
the price up or down.
Standard indicators only show you historical development but fail
to foresee future movements. I don’t want to get too
mathematical in here, but if you look at how the most common
indicators are calculated, you will see that they work with only
two variables: 1. time, 2. historical price. That‘s it. Nothing more.
All those indicators are only variations and different visualizations
of time and historical price. There is no Holy Grail among them,
and they are all just lines in your charts that add absolutely no
value.
So, why do all those forex broker analysts use all those indicators
then? Well, do you know who those analysts are? They are just
ordinary guys who go to work, do their job and then go home. It
The only purpose of
indicators is to
make people feel
more in control and
to push them to
trade more.
so comes that their job is to do one stupid article per day to feed their clients. Those clients
are most likely to lose their money anyways since most people in this business do. So those
analysts just give them an incentive to do some more trading so the broker can profit on taking
opposite sides of the trades. That’s it. The only purpose of indicators is to make people feel
more in control and to push them to trade more.
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