How many indicators do you need?

[EuroTrader]

Those determine the trend, but don't necessarily determine a good entry point, at least not for me. For all you know, the pair might be about to retrace just as you open a new position and you'll either have to wait that out, or some people panic and close their buys or sells and incur a loss.

If we will have a good knowledge about the trends then it will become a lot more easier for us to earn a good income in our trading and also in the meantime become successful

 

[carnelian]

You don't need any indicator to succeed in forex trading. You can trade naked chart and can become a good professional trader.

 

[dianajs]

You don't need any indicator to succeed in forex trading. You can trade naked chart and can become a good professional trader.

While I agree in general principle, I think that something that is highly individual. Some people just need the additional help of indicators, others learn without them. It's not something that can be applied universally to everyone.

 

[EURUSD]

While I agree in general principle, I think that something that is highly individual. Some people just need the additional help of indicators, others learn without them. It's not something that can be applied universally to everyone.

Yes I think so too, each trader they have own preferable to use indictaor or not, like as me still preer to analyze trend maret only based on candlestick pattern in different timeframe, combine with price action, although simple but if we know what we do, still can manage the risk

 

[EuroTrader]

Yes I think so too, each trader they have own preferable to use indictaor or not, like as me still preer to analyze trend maret only based on candlestick pattern in different timeframe, combine with price action, although simple but if we know what we do, still can manage the risk

We need to use such time frames in our trading that are suited to our trading systems. We all know the value of selecting the best time frames

 

[downtrend]

If you are combining some general indicators, then you can get some good results out of them. But don't load too many indicators on your trading chart, the more complex it'll get the more difficult it'll become to trade.

 

[dianajs]

We need to use such time frames in our trading that are suited to our trading systems. We all know the value of selecting the best time frames

Whatever the strategy, the longer-time frames generally give more reliable signals when it comes to candlestick patterns, so it's best to follow those, unless one is scalping, of course.

 

[downtrend]

Whatever the strategy, the longer-time frames generally give more reliable signals when it comes to candlestick patterns, so it's best to follow those, unless one is scalping, of course.

Even if you combine too many indicators on higher time frame, you can still get confused. The simple the strategy is the easy it will be to use. So keep it simple in forex trading.

 

[mlawson71]

If you are combining some general indicators, then you can get some good results out of them. But don't load too many indicators on your trading chart, the more complex it'll get the more difficult it'll become to trade.

Indeed. And then there's the issue with those indicators gving conflicting signals.

 

[EuroTrader]

Indeed. And then there's the issue with those indicators gving conflicting signals.

We can use the Indicators in our trading as per our needs. We have to first understand how these Indicators are going to work and what are the results we can get from using them