specific indicators

[eleanorkim]

hello all, Are there any specific indicators or tools that are recommended for beginners to use in their forex analysis.

 

[FxMaster]

hello all, Are there any specific indicators or tools that are recommended for beginners to use in their forex analysis.

Indicators and tools should be used as a part of a comprehensive trading strategy and not in isolation. It's essential to understand their strengths and limitations and combine them with other forms of analysis, such as fundamental analysis and market sentiment, to make informed trading decisions. Practice and experience are key in mastering their usage.

 

[bigdolly]

hello all, Are there any specific indicators or tools that are recommended for beginners to use in their forex analysis.

MA and RSI. These are simple but still quite useful tools. You can also try to use ATR.

 

[fxoday]

Indicators are just helpful tools in the toolbox forex trading platform, each indicator has pros and cons, no perfect indicator, and using it still needs to keep trade with money and risk management plan.

 

[eleanorkim]

Indicators and tools should be used as a part of a comprehensive trading strategy and not in isolation. It's essential to understand their strengths and limitations and combine them with other forms of analysis, such as fundamental analysis and market sentiment, to make informed trading decisions. Practice and experience are key in mastering their usage.

What specific indicators or tools have you found to be most valuable in your comprehensive trading strategy, and how do you effectively combine them with other forms of analysis to make informed trading decisions?

 

[eleanorkim]

many thanks for your recommendation.

 

[eleanorkim]

Indicators are just helpful tools in the toolbox forex trading platform, each indicator has pros and cons, no perfect indicator, and using it still needs to keep trade with money and risk management plan.

I agree with the statement that indicators are helpful tools in the forex trading platform. Each indicator has its own strengths and limitations, and there is no perfect indicator

 

[Paulina_wagner]

Moving Averages: They help identify trends and provide support/resistance levels. Simple Moving Average (SMA) and Exponential Moving Average (EMA) are commonly used.

 

[fxoday]

Moving Averages: They help identify trends and provide support/resistance levels. Simple Moving Average (SMA) and Exponential Moving Average (EMA) are commonly used.

For first-time beginners, I use Moving average crossover using two MA with fast and slow, the signal usually includes lagging, now I like price action

 

[eleanorkim]

For first-time beginners, I use Moving average crossover using two MA with fast and slow, the signal usually includes lagging, now I like price action

Thanks for your input! It's always great to hear different perspectives.