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What would you rather use for trading?
May 21, 2024 at 13:42
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10 Replies
Member Since Apr 30, 2024
1 posts
May 21, 2024 at 13:42
Hello guys,
I am rather new to trading. I was wondering what you would rather use in order to trade forex:
Expert Advisors, Signals, Social Trading or Indicators?
I am rather new to trading. I was wondering what you would rather use in order to trade forex:
Expert Advisors, Signals, Social Trading or Indicators?
Member Since Jun 25, 2020
11 posts
May 21, 2024 at 15:38
Hi,
Charts are enough to trade Forex but all is good as far as your trading style suits your psychology..
I suggest to learn it first from a good mentor(s) before putting any real money. It seems boring but this is the right approach towards success in trading.
Charts are enough to trade Forex but all is good as far as your trading style suits your psychology..
I suggest to learn it first from a good mentor(s) before putting any real money. It seems boring but this is the right approach towards success in trading.
One thing that I keep a note of, in trading, is not Money, It is Numbers!!
Member Since May 07, 2024
2 posts
May 22, 2024 at 14:51
if you have to choose 1, go with indicators, but remember that indicators are lagging and the #1 input in most indicators is price, so you'd probably be better off just focusing on price action
Member Since Aug 04, 2014
52 posts
May 22, 2024 at 16:17
panchovilla84 posted:
if you have to choose 1, go with indicators, but remember that indicators are lagging and the #1 input in most indicators is price, so you'd probably be better off just focusing on price action
Many times the indicators will mislead you, in my opinion, you should be more involved in learning raw chart analysis
Member Since May 07, 2024
2 posts
May 22, 2024 at 16:24
Fx_challenger posted:panchovilla84 posted:
if you have to choose 1, go with indicators, but remember that indicators are lagging and the #1 input in most indicators is price, so you'd probably be better off just focusing on price action
Many times the indicators will mislead you, in my opinion, you should be more involved in learning raw chart analysis
if by "raw chart analysis" you're referring to naked price action, s/r zones, classic chart patterns, etc....then yes i agree
Member Since May 24, 2024
3 posts
Jun 12, 2024 at 17:09
To start, I suggest using simple indicators such as moving averages, RSI, Ichimoku, ....
Social trading has the risk of being dragged into some point of market to be hunt by the brokers. So avoid it!!!
But for the Expert advisors, learning how to create a robot to backtest your trading strategy is an advantage. However to have a constantly profitable robot you need high level of programming, mathematics and statistics. So It is a team work.
Social trading has the risk of being dragged into some point of market to be hunt by the brokers. So avoid it!!!
But for the Expert advisors, learning how to create a robot to backtest your trading strategy is an advantage. However to have a constantly profitable robot you need high level of programming, mathematics and statistics. So It is a team work.
Steady Growth
Member Since Sep 07, 2020
70 posts
Aug 28, 2024 at 08:55
Social trading is good if you are new to trading and want to try to copy someone's trade to understand and get better
Member Since Sep 08, 2020
36 posts
Sep 12, 2024 at 05:00
If you're new to trading, I’d recommend starting with indicators to get a feel for how the market moves. Once you’re comfortable, you can explore Expert Advisors or signals for automated strategies. Social trading is great too, especially if you want to follow experienced traders and learn from their moves. It really depends on your learning style and goals.
Oct 18, 2024 at 08:41
I’d probably go for a mix of technical indicators and price action analysis for trading—it gives me a solid view of the market. But I know some folks who swear by fundamental analysis or even automated systems!
In trading, knowledge is power; in practice, patience is key.
Oct 21, 2024 at 08:05
If I were starting out again, I’d lean towards major currency pairs like EUR/USD or USD/JPY. They’re generally more stable and have plenty of resources to help you learn. Once you get comfortable, you can branch out to other markets, but starting with these pairs helped me build a solid foundation. Good luck on your trading journey!
Stay consistent, keep it simple, and let discipline shape success
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