There are thousands of indicators available online. Knowing which one to use itself requires a lot of knowledge and understanding. I have seen many people using a number of indicators running in their trading window. I would always prefer to go with one single indicator along with your own speculation skills. Indicators are finally just algorithms that work based upon the input parameters.
Indicators are just an added source of information to help you understand various trends of the market and make a better investment decision. You cannot completely rely on them. Doing your own research is also important.
Of course we can't be hundred percent sure about the price movement, nevertheless indicators and oscillators can help us to approach to the most possible option of exit from a deal, you know. I mean that indicators can be very helpful for those traders who really know how to use them and how to make money due to them. Well, I agree that there is no one hundred percent possibility that you win a particular trade, however they really can help you to win. Moreover, indicators shouldn't be used by rookies mainly because it's kinda difficult for them to use them. The have to know all the peculiarities of using indicators.
Having only one indicator in your trading strategy is a bad idea. THe thing is that there are no indicators which are coorect in 100% of cases. All the indicators give false signals which can be caused by many factors. So, if you want to make your trading strategy more successful, you'd better use several indicators which will give you better understanding of what is happening on the market during the given period.
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors.
Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance.
You could lose some or all of your initial investment. Do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.
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