How many indicators do you need?

dianajs

Private, 1st Class
Messages
778
Indicators are used on the Forex market in order to predict the future of a currency pair. You are advised to use as less indicators on the market window as possible. You need to keep the things simple for better results. Many traders lose their money due to the complex behavior.
Which indicators do you usually prefer to use?
 

EURUSD

Sergeant Major
Messages
1,133
Which indicators do you usually prefer to use?
Actually all indicator is useful, but indeed indicator only help tool, I am ever trying use bolinger band, which like as belt of price movement, but what happen sometime if price still continue hence line band also will folloowing price, so if look on history seems indicator work perfectly, but in fact we also need use stop loss to manage the risk
 

TrapLok

Recruit
Messages
127
I really do not know how much indicators do you need but I use the minimum indicators for my strategy about a particular trade. I think if you would use many indicators at a single time then the trading window will become messy and it will be difficult to predict the future of the market accurately.
 

bigdolly

Sergeant Major
Messages
868
I really do not know how much indicators do you need but I use the minimum indicators for my strategy about a particular trade. I think if you would use many indicators at a single time then the trading window will become messy and it will be difficult to predict the future of the market accurately.
You could limit their use to the extent where you don't use them at all. Price action is quite convenient and effective way to analyze markets, you just need to develop an eye for it.
 

alaska27

Recruit
Messages
163
I know some traders who don't use any indicators and trading quite well, relying only on fundamental analysis.
 

EURUSD

Sergeant Major
Messages
1,133
First beginning as beginner I am always looking good indicator and try many kinds indicator from third party, but eventually now I am trading with simple way only using candlestick pattern and price action, this way still making enjoy to analyze the trend and submit plan trading with use stop loss
 

EURUSD

Sergeant Major
Messages
1,133
Using too many indicator just making complicated and low respond on metatrader, using indicator that only needed because too many indicator not will guarantee will always profit, trading with simple way also still possible to making profit like as based on support and resisten or demand and supply on the market
 

pezz55

Recruit
Messages
9
Although I've seen worse setups, that is too much. I guess it really depends on your strategy.

I'm a technical trader, and i limit the indicators to rsi, a couple ma's, and fibs.
i always get lost when there is to much going on in the charts but that being said what do you think your top must have indicator would be?
 
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