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

[EuroTrader]

I normally see 2 to 3 indicators but if I find any confusion between their reading I do not trade on indicators. I just make my own analysis for trading . It is not a necessary part of forex trading to work with indicators. We had just low confidence , may these help us to get profits.

If the number of Indicators that we are using will be less then we will have an opportunity to make a good trade with the help of them as we will know which trade has the potential of giving us a good income

 

[nahiyar]

Yes we can also work without indicators, These are just helping tools not definite in their reading all the time . I use 1 or 2 indicators that I find good after many practice on them . I can guess market trend with them . I must say you have to choose what is good for you.

 

[ForexVerified]

I've seen charts filled with indicators that you can't even see the candlesticks. The simpler approach, the better.

 

[Pharaoh]

I always assumed that being able to see candlesticks was a clear sign that more indicators were needed.

 

[ForexVerified]

And here, I can only see candlesticks. (and a few lines here and there)

 

[EURUSD]

And here, I can only see candlesticks. (and a few lines here and there)

I think we can trade only with candlestick pattern also and combine with price action, like as some trader they trade based on support and resistance area, or use demand and supply theory

 

[dianajs]

I admire people who can layer many indicators on the same chart and are still able to understand them and differentiate between them, let alone trade using them at the same time. I could never do that, first because I think using mutiple indicators would lead to conflicting signals and second because I find putting them all on the same chart is impractical from a purely visual perspective. One could, of course, open multiple charts of the same instrument and spread the indicators over those, especially if their trading station has multiple screens and they can observe them all at the same time.

 

[ForexVerified]

I think we can trade only with candlestick pattern also and combine with price action, like as some trader they trade based on support and resistance area, or use demand and supply theory

Combined with fundamentals, this works best for me.

 

[EURUSD]

Combined with fundamentals, this works best for me.

Yes I think good if any trader also having good understanding with fundamental analysis, reading news update might also as one good as reference before open trades, often news also giving impact to currency

 

[iMusingKiMi]

It still depends on each individual trading style, no matter 10 or 0 indicators, as long as the trader comfortable and profitable, who cares?