Hey Guys,
I am a newbie in forex trading and i will really appreciate if anyone can share their experience regarding MACD, Stochastic, RSI & Divergence.
A little about how i trade:
* Time Frame: Daily Charts
* Currency: GBP/USD
* Indicators Used: MACD, Stochastic, RSI & Divergence (all defaults mode)
Now what i will like to know/seek advise on is:
* Can i use all these indicators together?
* Can i used them on defaults modes? if not, what's the best setting for each of these indicators for my trading style/period....and also why?
* Do they work well together?
* Are they enough as an indicators for traders to make trading judgments? if not, what other indicators do i need to compliment/use together with the indicators that i'm currently using?
I do use MACD, Stochastic, RSI & Divergence indicators at this moment trading demo.I always make sure that at least 2 - 3 of these indicators are giving me the same trend/direction signals before i place my trade. And yes, they are profits...... (please tell me what you think about this approach? is that a correct/good way to read the charts?)
Guys, please do not hesitate to post replies and answers to my inquiry.
I thank you for your time and hope you have a great day
Cheers
I am a newbie in forex trading and i will really appreciate if anyone can share their experience regarding MACD, Stochastic, RSI & Divergence.
A little about how i trade:
* Time Frame: Daily Charts
* Currency: GBP/USD
* Indicators Used: MACD, Stochastic, RSI & Divergence (all defaults mode)
Now what i will like to know/seek advise on is:
* Can i use all these indicators together?
* Can i used them on defaults modes? if not, what's the best setting for each of these indicators for my trading style/period....and also why?
* Do they work well together?
* Are they enough as an indicators for traders to make trading judgments? if not, what other indicators do i need to compliment/use together with the indicators that i'm currently using?
I do use MACD, Stochastic, RSI & Divergence indicators at this moment trading demo.I always make sure that at least 2 - 3 of these indicators are giving me the same trend/direction signals before i place my trade. And yes, they are profits...... (please tell me what you think about this approach? is that a correct/good way to read the charts?)
Guys, please do not hesitate to post replies and answers to my inquiry.
I thank you for your time and hope you have a great day
Cheers