With and without trading indicators - Opinions

[alanrox]

Thanks for the file. I still do not know how to use Fibo, hope this will help.

I don't know about the trading platform you are using at the moment. But check out these videos to know how to draw fibos if you are using MT4.






Good Luck,
Alan

 

[Red Herring]

I don't know about the trading platform you are using at the moment. But check out these videos to know how to draw fibos if you are using MT4.






Good Luck,
Alan

That is a great help. Yes I am just new to MT4 and want to learn about Fibo. I am watching that video.

 

[Red Herring]

Fibonacci retracement is built in to MT4. There's a link to it on the 2nd toolbar just to the right of where you can add lines.

Sorry Pharaoh, I am still not finding the link on my MT4. I am attaching my MT4 screen, where is the link to fibo please!

 

[Red Herring]

I don't know about the trading platform you are using at the moment. But check out these videos to know how to draw fibos if you are using MT4.






Good Luck,
Alan

I think youtube is too busy now since it is not responding! I will try later because I am not finding the link to fibo at MT4

 

[Pharaoh]

Sorry Pharaoh, I am still not finding the link on my MT4. I am attaching my MT4 screen, where is the link to fibo please!

Top line is File, Edit, etc.

Mouseover the first icon in the top toolbar (Chart with a green plus slgn). You should get a tool tab popup that says "New Chart". Don't click it.

Move down to the second tool bar. The first icon is an arrow. Mouseover should say "Cursor". Move to the right until you get to the 7th icon (Dashed horizonal lines with an F). That should be "Fibonacci Retracement"

Click it. Move your mouse onto a chart and point to a Low. Click the low and drag to the next high and then let go.

 

[Red Herring]

Top line is File, Edit, etc.

Mouseover the first icon in the top toolbar (Chart with a green plus slgn). You should get a tool tab popup that says "New Chart". Don't click it.

Move down to the second tool bar. The first icon is an arrow. Mouseover should say "Cursor". Move to the right until you get to the 7th icon (Dashed horizonal lines with an F). That should be "Fibonacci Retracement"

Click it. Move your mouse onto a chart and point to a Low. Click the low and drag to the next high and then let go.

Thanks Pharaoh

Got it. Now I will be able to get inside fibo. You are being so helpful.

 

[duderex]

I believe those people who trade without indicators are gambler. And those who trade with indicator are smart people that studies Forex and don't want to lose their money there.

 

[brendyfx]

I believe those people who trade without indicators are gambler. And those who trade with indicator are smart people that studies Forex and don't want to lose their money there.

How do you justify that traders without indicators are gamblers and traders with indicators are smart ones ? Indicators may helpful in trading. Neither EAs nor indicators will make you smart. Only you can become smarter by understanding the fundamentals about forex trading and by controlling your emotions.

 

[Red Herring]

How do you justify that traders without indicators are gamblers and traders with indicators are smart ones ? Indicators may helpful in trading. Neither EAs nor indicators will make you smart. Only you can become smarter by understanding the fundamentals about forex trading and by controlling your emotions.

Gamblers are not interested about Forex fundamentals because they can move the price by themselves...

 

[dkami]

Most indicators are lagging,I prefer to use a leading indicator for entry and exit with the help of a couple lagging indicators for overbrought,oversold conditions