How many indicators do you use in your trading strategy/system?

[sergeant]

I am using no indicators, just macro data. Indicators are just awfully lagging.

 

[ForexVerified]

It's interesting to see that not many traders use only price action in making their trading decisions.

 

[EURUSD]

It's interesting to see that not many traders use only price action in making their trading decisions.

It is very possible to trade without indicator at all and you can use price action combined with another tools like trendline, horizontal line, vertical line, and many other tools. But it won't be easy to trade with price action because you need to recognize many different pattern of candlestick which can give signal for the next price movement.

 

[Michael Hasting]

I only prefer to use Moving Average, as it's pretty easy but given that i usually prefer scalping and most of my trades are hardly going for 4-5 minutes, it's no issue whether i use indicators or not.

 

[ForexVerified]

I only prefer to use Moving Average, as it's pretty easy but given that i usually prefer scalping and most of my trades are hardly going for 4-5 minutes, it's no issue whether i use indicators or not.

All such indicators are lagging if you try to make use in the time frame you are trading. MAs are good if you look at them on higher time frame than the one you trade and usually it will give you a good sense of direction (50 day simple MA is good for retracements).

 

[EuroTrader]

All such indicators are lagging if you try to make use in the time frame you are trading. MAs are good if you look at them on higher time frame than the one you trade and usually it will give you a good sense of direction (50 day simple MA is good for retracements).

Yes we all know the importance of using a good trading Indicator and this is why we should use Moving Averages as this is the simple Indicator that can tell us a lot about the Forex markets

 

[ForexVerified]

Yes we all know the importance of using a good trading Indicator and this is why we should use Moving Averages as this is the simple Indicator that can tell us a lot about the Forex markets

MAs can only tell you the average closing price of the previous candles. So it's basically useless indicator for price prediction.

 

[WatanFX-Rep]

Indicators are useful when a strategy adopts a contrarian outlook instead of a breakout.

Banks mostly focus on breakouts all day long, whereas hedge funds (buy-side) usually lean towards contrarian biases.

 

[bigdolly]

What do you mean under contrarian biases? I also trade breakouts cuz I think any other strategies are crap including default MT4 indicaots such as Channels or Elliot Waves. They give you 50% at best you can trade with same success clicking buy and sell randomly..

 

[ForexVerified]

Indicators are useful when a strategy adopts a contrarian outlook instead of a breakout.

Banks mostly focus on breakouts all day long, whereas hedge funds (buy-side) usually lean towards contrarian biases.

...and traders just scalp.