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

[cklayus]

I only need one Indicator to trade, but it is the best

 

[dianajs]

Combined with fundamentals, this works best for me.

I admit that I rely on technical analysis and occasionally on indicators almost completely. I do follow fundamental news though, because I want to know when there will be high volatility so I can close my positions on time and wait it out before I open new positions again. That approach works best for me.

 

[ForexVerified]

I admit that I rely on technical analysis and occasionally on indicators almost completely. I do follow fundamental news though, because I want to know when there will be high volatility so I can close my positions on time and wait it out before I open new positions again. That approach works best for me.

You can also implement fundamentals for long term moves. For ex. you know from fundamentals that USD will depreciate (by following Fed's policies) and you sell it on every opportunity for moves of 200-600 pips with some confidence that the price won't make large moves in the opposite direction (of course, you have stop losses to protect you if you are wrong). Fundamentals are underestimated in retail trading and they have enormous potential.

 

[dianajs]

You can also implement fundamentals for long term moves. For ex. you know from fundamentals that USD will depreciate (by following Fed's policies) and you sell it on every opportunity for moves of 200-600 pips with some confidence that the price won't make large moves in the opposite direction (of course, you have stop losses to protect you if you are wrong). Fundamentals are underestimated in retail trading and they have enormous potential.

That is very good advice and I thank you for it.
I don't really have the patience to keep a position open for longer than a few days at most. The more time passes, the more impatient and anxious I get to close it, out of concern that I will have to wait out major retracements and the like. But I am trying to train myself out of those issues. Learning more about fundamentals would certainly help in that regard.

 

[iMusingKiMi]

Another advise, you can gain or share knowledge with other trader but not following all. You have to choose which want are the most suitable for yourself.

 

[dianajs]

Another advise, you can gain or share knowledge with other trader but not following all. You have to choose which want are the most suitable for yourself.

I don't think that one can follow too many traders and their strategies even if they wanted to. People are very different and their strategies vary widely. It is a bit like the indicators we discussed above - it's best to pick and choose a few, because the more you choose, the more conflicting signals you'll get. The same thing applies to strategies.

 

[ForexVerified]

That is very good advice and I thank you for it.
I don't really have the patience to keep a position open for longer than a few days at most. The more time passes, the more impatient and anxious I get to close it, out of concern that I will have to wait out major retracements and the like. But I am trying to train myself out of those issues. Learning more about fundamentals would certainly help in that regard.

Yes, holding a trade for a longer period is nerve-racking. That is why on my long-term targets I open lots which make the large stop bearable (i.e. not more than 2% of equity).

 

[EURUSD]

One indicator is good if already giving accurate signal trading, but some trader might they combine with few indicator as help tool, and only with discipline obey rules how to use indicator hence will get better understanding

 

[bigdolly]

Mine is pure price action with S/R levels, I also pay attention to big players how they react to news important political events etc. Small speculators its just a noise if you will follow them you will always be outside the trend.

 

[EURUSD]

I like with simple analysis using chart pattern and look price action, this making more comfortable during trades although might many trader called if trade without indicator like as gambling