Tools to trade.

There are many tools like oscillators, averages, and others. Common mistake among new traders is to mix everything up. They feel more comfortable when there are more tools on chart. This way it is hard to learn with one specific tool. Because you have so many tools on chart you will act on different signals. Yes, some indicators work great together but you should know what are you looking for. This may be very confusing. Result is always the same – no progress.

which amount is more appropriate for new Forex trader , it depends on how much basic knowledge he acquired including practicing, if any newcomer go thorough all basic level of trading with live experience for 6 month , i think he has the capability to reduce unfortunate losses and risk.    

I had best progress when I took all the indicators off my charts and just traded price action. I think that is the best way

Your
- eyes
- brain
- hands
- internet connected device

For keeping survive in this volatile trading place confident is needed but overconfident is will harmful , sometimes because overconfident then leading trader greedy in trades, and dare to take risk in trading which actually the market very dynamic and not always after trade open trades then will directly get profit.

All you need is
 - patience
 - cool head
 - determination

lazilybento posted:
All you need is
 - patience
 - cool head
 - determination

And of course a good trading strategy; when you are trading with a smooth trading system then the procedure will be meaningful!!

AmDiab posted:

lazilybento posted:
All you need is
 - patience
 - cool head
 - determination

And of course a good trading strategy; when you are trading with a smooth trading system then the procedure will be meaningful!!

Good trading strategy is necessarry for trading, but it is not a tool.
It is telling you how and when to trade while tool is to execute the trade

Forex traders tend to make everything over complicated with the excess use of these trading tools. I don’t say they are not useful, but sometimes a simple strategy with lesser stress works better, as in my case.

jakes90 posted:
Forex traders tend to make everything over complicated with the excess use of these trading tools. I don’t say they are not useful, but sometimes a simple strategy with lesser stress works better, as in my case.

thumbs up

jakes90 posted:
Forex traders tend to make everything over complicated with the excess use of these trading tools. I don’t say they are not useful, but sometimes a simple strategy with lesser stress works better, as in my case.

Even; many traders try to rely on only the trading indicators; that’s really an unrealistic vision.

there is anyone who can suggest me a Best Book which is more appropriate for using scalping successfully , i have been using 'Best Scalping and heading' , its not bad but not also more different something.  

When I started trading, I used many different indicators, sometimes at the same time. But one day my mentor said. If your chart has a lot of different indicators, then it means that you do not know how to use them.
The main purpose of each trader is to define a signal for entering and exit. there is nothing bad to use different indicators, but, there's a significant fact that no one is working perfect. Sometimes any tool will make mistakes and trader should realize it and try to predict.

Some people believe that more the number of tools he uses in forex trading , better would be the trading results. But that is not so. Using one or two indicators is rather a better thing to do. Using more tools only means confusing yourself. Using a combination of tools is also a good idea. So neither depend on just one tool nor use so many tools that you can’t reach a conclusion.

P.S – use only those tools you are fully aware about.

If all indicators available in MT4 can predict the market price, sure our fx traders are billionaire now. Some said, trade with price action, but have you seen anyone become billionaire traded with price action only?
The only tools to trade are:
1. Broker
2. Internet connection
3. Money
4. Brain

To leave your current job faster, be marketer.

Nasrul_Swing posted:
If all indicators available in MT4 can predict the market price, sure our fx traders are billionaire now. Some said, trade with price action, but have you seen anyone become billionaire traded with price action only?
The only tools to trade are:
1. Broker
2. Internet connection
3. Money
4. Brain

To leave your current job faster, be marketer.

you need also device connected to Internet and some client app, be it MT4/5, ctrader or even webtrader

In Fx trading the bonuses we get from our trading brokers practically cannot use in a proper way due to many restrictions. So, we have to choose the regulated trading broker, otherwise it is useless to have 100-200% bonuses which cannot use in a proper way due to many restrictions.

Nasrul_Swing posted:
If all indicators available in MT4 can predict the market price, sure our fx traders are billionaire now. Some said, trade with price action, but have you seen anyone become billionaire traded with price action only?
The only tools to trade are:
1. Broker
2. Internet connection
3. Money
4. Brain

To leave your current job faster, be marketer.

Buddy; using the tool and depending on trading tool are not the same! Depending on any trading tool is dangerous and unrealistic!

steve_25 posted:
Some people believe that more the number of tools he uses in forex trading , better would be the trading results. But that is not so. Using one or two indicators is rather a better thing to do. Using more tools only means confusing yourself. Using a combination of tools is also a good idea. So neither depend on just one tool nor use so many tools that you can’t reach a conclusion.

P.S – use only those tools you are fully aware about.

But I see; using unnecessary trading tools bring more damage; since traders can’t see the market in a proper way!