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What indicator you use for scalping?

CrazyTraderfx (CrazyTrader)
Jun 02 2015 at 15:01
posts 1718
BenNathanFX posted:
No indicators needed, just knowledge....

To make my point....

Can an indicator tell you that the AUD is strong today following the fact that RBA kept rates on hold when the markets expected a cut...?
and that the USD is weak because last weeks poor data and bad NFP figures have now caused the market to expect the FED to keep rates on hold a lot longer than expected, and that therefore the AUDUSD is a great pair to scalp up?

Nope.....

Fundamentals are what drives the market - use those as your indicator and the pips will flow.....

Trading without a basic fundamental outlook is basically gambling on chance - ie hoping that a pattern will win more than it loses, but trading based on fundamentals.... thats investing... you just need a technical way to consistently enter the markets based on the background fundamentals.... this is something EAs and Indicators cant provide.


Interesting... just kidding!

Off course it exists... there are pleny to download for free on FF.
They provide realtime data and they are very accurate. Don't tell me ignore this lol.

just a screenshot!


AUD strongest
USD weakest

This tool usually called (Currency Strength Analyser or Pair Strength Analyser) provides this data.

Fichiers joints:


CrazyTraderfx (CrazyTrader)
Jun 02 2015 at 15:02
posts 1718
This is the best indi you can trade with scalping as you will be always fousing the pair that moves in one direction.

Professor53
Jun 02 2015 at 20:04
posts 795
Interesting..

Click on my Name to see My Live Charts and Bio.
CrazyTraderfx (CrazyTrader)
Jun 02 2015 at 20:34
posts 1718
Furax
Jun 02 2015 at 22:01
posts 92
For scalping, I don't use any indicator but I use the volatility.

On entend l'arbre qui tombe mais pas la forêt qui pousse...
James Smith (james2015)
Jun 07 2015 at 16:03
posts 46
Furax posted:
For scalping, I don't use any indicator but I use the volatility.


volatility is dangerous when there is no stop loss 😇

“The past can't hurt you anymore, not unless you let it.”
James Smith (james2015)
Jun 07 2015 at 16:03
posts 46
phil09 posted:
I'm newbie here, and I would to know what indicator you use for manual trading (scalping).


you should do some months practice on 'stochastic' or 'relative strength index' in m1 chart you better stay away for news timings bcz no one knows where the market goes that time... good luck😉

“The past can't hurt you anymore, not unless you let it.”
Toby Horne
Tobyh
Jun 08 2015 at 07:06
posts 4
Tobyh posted:
tick chart


-34 tick chart with RSI
-buy on positive divergences, sell on negative divergences.
-use the 30 and 70 levels on the RSI to show when to take profit or stop loss which are executed at market manually.



Nil (Sleepless)
Jun 08 2015 at 10:21
posts 16

What indicator you use for scalping?


Your Brain! 😁

Damien (Damien1881)
Jul 04 2015 at 06:09
posts 24
JacoAF posted:
I agree with rob559, you can use a momentum indicator such as Stochastic, MACD or RSI. However these indicators (which is completely free) or any commercial indicator, in itself is useless unless you interpret them correctly in accordance with the movement of price action itself.

Basically, what I mean is that no technical indicator will help you unless you understand the concept of price action. I would recommend you first learn how to read and interpret the charts in terms of Candlestick Formations, Support and Resistance levels and Fibonacci ratios. Once you understand price action and the structure of markets and their behaviour around SR (Support and Resistance) Zones in terms of previous price action, you then use a technical indicator such as the RSI to confirm your entry or exit out of a position.

Many new traders fall into the 'trap' of using technical indicators as their only reason for entering or exiting a position. This will land you into more trouble in the long run.

If you are interested in learning about the basics of technical trading, then check out this link:

https://tradeempowered.us4.list-manage.com/track/click?u=5427bf57593195a7e5986680e&id=050dfd3ee3&e=05d904c05a

It is a Technical Trader Workshop hosted by a company in the USA called Trade Empowered and is completely free with no obligation whatsoever. I attended one of these workshops two years ago and it changed my perception of technical trading completely. I just like to emphasize that I am in no way affiliated to this company and neither have I enrolled in any of their formal trading courses, but the workshop opened my eyes completely.

If you wish to check out a video of what you can expect, then search for their YouTube videos presented by their founder Jason Stapleton at the link below:

https://www.youtube.com/channel/UCe3O5ZLxQzGz4-nfl6XLEHQ

Again, I have no affiliation to Jason, or Trade Empowered, but these guys are extremely good at what they do in teaching new traders the basics of technical trading and understanding how markets work and behave. I think this will be a good starting point for you. The only advice I can give you is to learn everything you can and then formulate your own Trading Plan, Trading Strategy and Trading Rules. Treat trading as a business and run it as one with great discipline. Success will follow.

Good luck!
Cheers


I'd just like to add that I've also done the workshop and went on to do their full course on harmonics and advanced patterns, one of the real courses I've done, meaning it's not a scam and they can really trade, I joined the trading room with Akil Stokes and watched him make over 900 pips in a month live on a real account, it was definitely worth the investment.
Also like to add that I to have no affiliation with the company.

Don't listen to and follow the BS online.
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