𝗗𝗼 𝗼𝗿 𝗱𝗶𝗲, 𝗲𝘃𝗲𝗿𝘆 𝗶𝗻𝗱𝗶𝗰𝗮𝘁𝗼𝗿 𝗼𝗻 𝘆𝗼𝘂𝗿 𝗰𝗵𝗮𝗿𝘁 𝗺𝘂𝘀𝘁 𝘀𝗲𝗿𝘃...

𝗗𝗼 𝗼𝗿 𝗱𝗶𝗲, 𝗲𝘃𝗲𝗿𝘆 𝗶𝗻𝗱𝗶𝗰𝗮𝘁𝗼𝗿 𝗼𝗻 𝘆𝗼𝘂𝗿 𝗰𝗵𝗮𝗿𝘁 𝗺𝘂𝘀𝘁 𝘀𝗲𝗿𝘃𝗲 𝗮 𝗽𝘂𝗿𝗽𝗼𝘀𝗲 (𝘁𝗵𝗲𝗿𝗲’𝘀 𝗿𝗲𝗮𝗹𝗹𝘆 𝗻𝗼 𝗰𝗼𝗺𝗽𝗿𝗼𝗺𝗶𝘀𝗲)

A mistake almost all new traders make is to add many indicators onto their charts, regardless of whether the indicators have a purpose, or not.

But as you know, having more indicators doesn’t mean a thing. Instead, they only add “noise” to your trading and make things more confusing.

So, the rule is this:

Every trading indicator on your chart must have a purpose.

For example…

If you want to identify the trend, then you can consider the Moving Average.

If you want to time your entry, you can consider Stochastic or RSI.

If you want to trail your stop loss, you can consider Chandelier Exit or Moving Average.

So, if there’s an indicator on your chart and you can’t find a purpose for it, exterminate it.

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