Quoting taxgeekDislikedWhen things don't go right, we always assume that the reason lies in our knowledge of trading, indicators, and etc. It's not about knowing more about indicators and technical analysis. It's always about knowing yourself. Trading forex like the stock market doesn't work. To be honest I think most of the indicators used with stocks are way too slow to be of any use in Forex. The only ones, which seem fast enough, are CCI and RVI. Most of the others are a day late and a dollar short unless you use them unconventionally for divergence or whatever. Everyone seems to use them anyway, and I followed the crowd to start with by adding more and more of them, coming up with several good entry systems, hoping to know where the market was going next. It doesn't work. Indicators cannot relay that information. They can only tell you where the market has been and where it was at the last chart update. Simplify your charts, get in touch with yourself, and trade from your gut. That's the only way to win in Forex.Ignored
- | Joined Apr 2006 | Status: Member | 440 Posts
"Youth is the trustee of prosperity." - Benjamin Disraeli