what best indicator to use for your trading?

Discussion in 'Forex' started by Peter brandley, Sep 4, 2012.

  1. Hello guys

    I need everyone's suggestion on what are the best and more understandable indicator to use for trading? and please provide it with an explicit explanation.

    Good luck with ur trade
  2. cornix


    Just watch the price bar chart. It will tell you more than any indicator.
  3. daily sentiment
  4. Daring


    I like to use Price, Volume and CCI
  5. If you must the Relative Strength Index (RSI), %R and Money flow Indicator (MFI) for choppy markets, Then the Commodity Channel Index, Moving Averages, and Directional Moving Indicators for trending markets.

    Choppy markets if they hitt 100 you sell and if they hit 0 then you buy. Profit target is 50.

    Trending markets you buy crossovers and short cross under..

    Have fun with that!
  6. ET: Fading 95% of its members is a good indicator
  7. Daring


    Don' think this is an accurate statement some indicators got predictive value if used correctly.
  8. wickcity


    And when do you personally buy and sell watching the bar chart?

  9. +100
  10. cornix


    Oh, I didn't mean indicators are useless, just in my experience one of the worst mistakes newbies make is overanalysis so to say. Insteading of learning to use simple basic tools, they try to increase odds of success by using more and more stuff... which leads to an opposite result.

    I have trading buddies who are pretty successful using indicators, but over the years sticked to just price myself... Well, not just price of course, but price action is the basis of my risk management and entry/exit signals.
    #10     Sep 5, 2012