What is Best Forex Indicator?
I’ve been trading FOREX in a while, I used various inidcators such as MAs, Stochastic, MACD, RSI, and countless others.
However, none of them really works well for me in most cases.
MAs cross-over is hard to predict. Always fit better after the facts. For example, like MA (9) crosses MA (14) or MA (14) crosses MA (32) , I even tested many other flavors of MAs claimed offer faster and smoothier movements. Of course, if MA (9) didn’t cross MA (14) and failed to your expectation of the movement, MA (3) crossed over MA (9)…
Can you tell me other Forex trading indicators? What is best forex indicator?
Extra tags:
- simple best technical indicator,best indicator for forex,www stochastic-macd com,rsi 14 ma 9,richard dennis indicator,Range-Oscillator forex,perfect forex volume indicators,one hour forex indicators,macd ma9,macd indicator works best in which timeframe,macd bollinger stochastics rsi together,MA14 forex trading strategy,MA Macd stochastic trade,ma cross indicator with price,MA (9) forex,list the best forex indicator for me i wantto buy,I want to buy best forex indicator,HOW TO TRADE OVERSOLD BOLLINGER BANDS STOCHASTICS & MACD TOGETHER,rsi stohastics,rsi stohastics macd multi indicator
Related posts:
- Are there any website offering free tutorial or training for forex trading beside investopedia and fxstreet? Forex signals, MACD indicator, Bollinger bands, Pivot, how to be successful in forex trading, how to earn the most without losing a lot...
- how to read stochastic indicator in forex? hi, i am new in forex trading. i have open a demo account. i want to know what are the red and green lines in...
- 1 hr trading strategy? Hi all, a few days later while i was surfing the net i found a free forex trading strategy,the strategy is to set on 1hr...
- What is the best signal to buy/sell on FOREX market? Is there any signal that works 80%+ ? (MACD, RSI, Stochastic, Trend lines, Two tops…etc.) What’s the profit in pips and what time graphic it’s...
- Forex Signal Service? Is there a forex signal service/software that alerts it’s users when a currency crosses an overbought or oversold line on the stochastic and williams study...
Tagged with: flavors • Forex Questions • MACD • MAs • RSI • Stochastic • t cross • trading forex • while
Filed under: Forex Courses
There are three real-time moving indicators: Price, Volume, and of course Time.
Most traders focused on PRICE indicator and hundreds of other indicators derived from it, they miss two other important indicators – VOLUME and TIME. What moves the price? VOLUME and the forces driving the volume. How to see price movement? Over TIME. You need to observe Price, Volume, Time and their dynamic interactions.
The best Forex indicator (or for any other financial market) is Market Profile. More information on market profile trading can be found at:
http://www.squidoo.com/stock_technical_analysis
Or Google search "simple best technical indicator".
Cheers!
If you are only using one indicator at once, that might be your problem. No one indicator is perfect, you have to use them together.
Personally I combine Stochastic, MACD and RSI (and 2 SMAs for visualization purposes), and verify based on 3 timeframes… check out my Forex blog for more info, there is a link to a detailed description of my system on the sidebar as well:
http://yarcofin.wordpress.com
Forex trading indicators are mostly derived from MAs or prices. Despite fancy names such as stochastic, CCI, MACD, Aroon, ADX, Bollinger Band, Inverse RSI, Balance Volume, Prabolic stop etc.
Depends on how many times you make a trade, you should adjust your trading style according to big waves (oversold or overbought). In fact, don’t use too many timeframes, it can only add more frustration because multiple timeframes usually give you conflict signals. If you use the yearly, monthly, or weekly timeframe, you won’t want to buy U.S. dollar at all.
You can use 100 indicators and you will still be confused whether you should be buying or selling.
IMO, the only LEADING indicator is price. All the rest are lagging indicators. I use trendlines, support and resistance levels to determine entry and exit points.
Anyone can tell you that this indicator or that works best for this or that time frame. The reason it works for them is that they have gained the experience and competence to read the market. You probably have not gained that experience yet.
Two traders who use the same trading method–one will consistently make money while the other one will have to find a different job eventually. Look at Richard Dennis’ Turtles. He taught them everything he knew and yet not all of them were successful.
One more thing, there is no perfect trading method. If you do not want to get whipsaws–don’t trade.
Remember, the goal of a good trader is not to make money, but to trade well (Van Tharp, Trade your way to financial freedom–read his book! ).
Happy trading!
- jim http://jsforex.blogspot.com