Dapo willis

Indicators: 
Relying on indicators to make trade decisions is a complete 
disaster. In fact, indicators are usually derivatives of past 
price movements that operate based on sets of mathematical 
computations.
Traders use these metrics to anticipate the next move in 
price and base their trades on the signals provided by the 
indicators. 
Hundreds of indicators are available, and I have leveraged 
almost all of them during my early days of trading. 
Spoiler 
Alert:
they don't work. 
Some of these indicators include moving averages, 
stochastic, Bollinger bands, MACD, etc. The principle of 
operations on all various indicators varies based on how they 
are designed. 
If the stochastic tells you to buy, the moving averages will tell 
you to sell. This creates a conflict, some form of bias, and 
strategy manipulation. 

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The Millionaire Trader's Handbook 
Page 31 
In other words, you do not have control over your trade 
decisions when relying solely on indicators, because they tell 
you what to do base on what the market thinks it will do 
using some set of mathematical principles.
As a trader who manages funds over 50 million dollars, I 
have never risked my investors' funds on an indicator-based 
trading system that operates based on a mathematical 
principle I know nothing about. Professional firms and 
traders who trade for big banks do not use indicators like the 
average retail trader because they understand the disaster 
behind leveraging them, and cannot risk their investors' 
funds based on that. 
Why? Indicators lag behind the price. They only confirm 
long-term trends after the price has done its due diligence, 
but they never predict them before they happen. You don't 
want to be behind the price. 
In other words, the indicator-based trading system simply 
indicates to you what has happened but not what will 
happen, and this approach doesn't give you an edge over the 
market. Large institutions, market makers who move the 
financial markets, and make the most money only rely 
heavily on “volumes and price movements” if you don't 
understand how they perceive the market, you can never 
become that millionaire trader you dreamed of. 
Luckily, I was fortunate enough to learn from one of them 
during my early days of trading. Thanks to that privilege, I 
now see the market differently and from a bigger perspective, 
which will be uncovered as you read deeper in this book. 

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The Millionaire Trader's Handbook 
Page 32 
But here's the truth: during my early days of profitable 
trading, I also used indicators in support of my strategy. It 
would be inappropriate for me to condemn their use, as you 
can see in the image below of my charts. 
However, I still find myself profitable because I only use 
indicators for- confirmations in confluence with my strategy, 
not as my decision-maker.
In other words, trading indicators are only meant to aid your 
decision-making process, not to be the decision-maker. Since 
90% of my trade decisions are based on price action, I had to 
let go of indicators completely. 
So, no matter how many combinations you try, you will 
never be profitable if you rely solely on trading indicators to 
make trade decisions. 

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The Millionaire Trader's Handbook 
Page 33