Indicators are reliable but

lizgo posted:
There are so many indicators and sometimes they contradict each other... so which one should I use?
For example, support and resistance... we can draw many lines but which ones to choose?

Hey, u should not cut candles and the line must touch the wicks of maximum candles

OrlandoGT posted:

lizgo posted:
There are so many indicators and sometimes they contradict each other... so which one should I use?
For example, support and resistance... we can draw many lines but which ones to choose?

Hey, u should not cut candles and the line must touch the wicks of maximum candles

Wicks are unreliable as they contain broker spreads. Most will be different on different brokers. Bodies never change

Oh really, is this so , where have u read this can you please share the source?

If you're going to use indicators you will need to test them out. There are thousands of indicators, and you will have to spend hours doing your research. It can take 10 years before you are profitable. Don't quit your day job. I use indicators but not for signals. I don't use support and resistance unless I'm trading a pullback, which I rarely do. Good luck.

You better learn how to trend follow and trade, it's much better than indicators.
Don't get me wrong, indicators are good if you know how to identify trending markets, then use indixator to support if you wishes, this is how i make my profits.

To find the right indicator, it needs a lot of trail and experiments. An indicator working for me does not mean it will work for you. You have to find it out in a hard way.

Akasuki posted:
To find the right indicator, it needs a lot of trail and experiments. An indicator working for me does not mean it will work for you. You have to find it out in a hard way.

If you ever get confused on the right indicator, the stick to support and resistance and pivot, make sure to master it and you are good too for profits.

But they are not a sure shot signal. It's best to use your own logic for cross check before going forward with indicator signals for forex decisions.

They work based on algorithms and patterns. So it's a yes that they are not affected by human emotions. On the other hand, they can’t look out for market fluctuations. Always combine your predictions with indicators to correlate the market trends.

Indicators, bots, tools and everything that helps traders for market predictions and making profits will work effectively only when the trader knows how to use them efficiently. There are many indicator systems available and the trader should know which one he is looking for in his trading method.

Blind use of any indicators is bad.. First a trader needs to understand the working, and how to interpret the results of an indicator.

Yeah, without knowing the significance of indicator you can't trade well.

Price action with the combination of indicator can a good trading strategy. But you need to find the right indicators that you understand the most.

SofieAndreasen posted:

AliaDare posted:
The signal of the indicator is reliable but very slow. This is why trading signals are available after losing a lot of moves.

Don’t solo rely on indicators. Try to read practice action also.

I use some indicators. Which gives me a lot of good returns. For example, MCDI, Moving Average, vwap, etc. help me a lot.

How do you use them to identify trades? I try using indicator but there were too many fake signals

sopranoberidze posted:
How do you use them to identify trades? I try using indicator but there were too many fake signals

less is always more,, use limited indicators depending upon the strategy.

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.

@lilliemorris Yes to find the right indicator is not an easy task. One needs to do a lot of trail and experiments to find the right indicator for him.

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.