Don't use only indicator's signals for buying and selling in forex
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Thread: Don't use only indicator's signals for buying and selling in forex

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    Registered user Hukam's Avatar
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    Don't use only indicator's signals for buying and selling in forex

    There are a lot of trader's in forex trading business who mostly like to follow indicator's signal's for buying and selling. Most of them are all new trader's. Due to lack of knowledge they don't able to know about the real use of meta trader terminal indicator's. Many people say that indicator's useless for their analysis.

    According to me indicator's have their limitation's. Any indicator use can't make your rich over one night in this business. Its very important to use that indicator's helps us to make a good market analysis. But mostly trader's not use any trading analysis like technical analysis, fundamental analysis, trend following based analysis for their trading and start to follow indicator signals.

    For now I am concentrating much on support and resistance points only. As a naked trader I am not using any indicator for trading but I think 200 EMA is one of the best choice for all trader's. Many of my friends are using this indicator in their meta trader

    Following indicator's is not bad at all but they will give provide a good helping hand only when you will also use your own mind and logic in the market. You have to use your own analysis too for good trading result. So folks our main aim is to focus on good forex trading education since joining of this business. Only a good trading education and experience will make you rich. Happy trading

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    i see, indicator is only the tools and we need them to analyze the market and not to make a signals, and it is wrong concept if a trader set it as a source of signals, because actually we do not know for what will happen in the market,
    and as you said above, traders do not only use indicator for signals, but there are some points that is needed to know by them that will give impact to the market

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    That's 100 percent true statement I also think that mostly all new trader's pay very less attention on their hard work and learning they want to make very quick money and not want to use their own analysis and logic, Mostly new trader's follow signals and try to find a holy grail system too. But until we will not get real trading experience till then no indicator will help us to make money

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    you may have a very good range of rightness in your mentioned speech so I may think that the indicators have no use at all before the movement of the market . they may be useful if we looked after the news to show how is the market effected by the releasing of the news at a time.also some indicators may have a false signals which can take us a way about what we are seeking for . but we may need some good indicators to be related to the chart small pips

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    Last edited by hosny55; 12-21-2014 at 07:55 PM.

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    Registered user Hukam's Avatar
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    First of all mate you have to make a good trading plan and a trading strategy for you and you have to attach some good indicator's in your meta trader terminal. And first you should check that you strategy is giving you any better chance to enter in the market or not and after that you should check the confirmation of your indicator's too for better performance use 2,3 best indicator's

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    Quote Originally Posted by Khimi234 View Post
    That's 100 percent true statement I also think that mostly all new trader's pay very less attention on their hard work and learning they want to make very quick money and not want to use their own analysis and logic, Mostly new trader's follow signals and try to find a holy grail system too. But until we will not get real trading experience till then no indicator will help us to make money
    I believe that it is not true, this is because the indicators will help you if you help yourself first. I have heard many said about the indicators wrongly, but that is not true. Until you accept that indicators gives a probability in trading, then you will not use it well. Indicators are for predictive purpose that are not assured, and I have used it more than 3 years alone, and I had a successful trading, it depends on how you can use it.

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    Registered user Hukam's Avatar
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    I don't think so dear its very important to know about the market analysis and we have to get the real trading experience too only indicator's can't help you make money here you can't do trade with a strong trading psychology, and can't control your emotion and greed with the help of indicator's you need real trading experience for that

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    Hi dear Hukam, If I have to say honestly, I've been frustrated in using technical indicators, lol
    I just use support /resistance and supply-demand theory for trade longterm, and sometimes I use a trend line. It is very simple in my trade, and it is most effective for me, although perhaps each trader has a difference in this case, how I might be going well for me but not necessarily will run fine on other people, I do not know about this thing.

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    If you lose, be patient. If you win, stay humble

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    That's awesome mate you that's a very good quality of a professional forex trader. I think that's a good way to do trade you are using trend lines, and your own technical analysis and you know better about supply and demand subject too. I think your trading system is one of the best system there is no need to use indicator in it

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    By the way thanks for sharing this great thread Mr. Hukam I am learning a lot about technical trading system from you and rina ji

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    Registered user Hukam's Avatar
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    Quote Originally Posted by rinaji View Post
    Hi dear Hukam, If I have to say honestly, I've been frustrated in using technical indicators, lol
    I just use support /resistance and supply-demand theory for trade longterm, and sometimes I use a trend line. It is very simple in my trade, and it is most effective for me, although perhaps each trader has a difference in this case, how I might be going well for me but not necessarily will run fine on other people, I do not know about this thing.
    Well I think its depend upon a trader you are right its not working for you because you have already your trading system, but many trader's like to use indicator's in their trading, personally I also use very less indicator's in trading, you are saying right that we have to use our own trading system in forex. And we should choose that system which suit to our style

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