please help about technical indicator

hi,
I would like to know if these technical indicator are useful when making decisions . If so how much do you think it will contribute to a sucessful transaction, and which is more important among the indicators. and which web sites is more convincing and practical. thanks for your reply

My background might be very interestingto you

Why?
{carefull of infractions}

Forex killer, welcome to the forum.

No indicator is better than any other. The bottom line is that you have to enter on a price bar, and any indicator can be optimized to provide an earlier or later entry. All indicators are derived from price values and therefore – for better or worse – lag price. See my post here for detailed explanation and examples: http://www.forexfactory.com/showthre...226#post172226

There are many traders who don’t use indicators, i.e. they simply look for patterns in the charts and candles, perhaps in the context of prior support/resistance areas, and/or Fibonacci retracements. If you’re interested in this type of approach, check out the James16 chart thread: http://www.forexfactory.com/showthread.php?t=2331

IMHO the key to long term profit is to build an entry/exit method around “robust” concepts, i.e. those that are used by many other traders, confluence of which further improves the probability of “self fulfilling prophecy”. Trendline breaks, breakouts through, or bounces off S/R or Fibos are more likely to be widely used because they require no parameters, and operate independently of timeframe. Whereas, with technical indicators, everybody tends to use different parameters (e.g. some people use EMA(5), others use SMA(20)), and furthermore, these produce different curves for each timeframe.

In general, there are three “robust” approaches to entry: (1) entering on pullbacks in trends, as the prevailing trend is re-establishing itself; (2) fading overbought/oversold extremes back to/beyond the mean, during ranging markets; (3) breakouts through significant trendlines or S/R. Indicators generally add value only if they support one of these approaches. An entry system that is too reliant on the indicator parameter settings is “over-optimized”, and is unlikely to deliver profit indefinitely. Likewise with an exit system that is overly dependent on specific TP and trailing SL values.

Personally, I’m currently using multiple-time-frame stochastics and Bollinger bands combined with candle patterns for entry, and support/resistance for scaling out during exit. But this is just one of hundreds of possible approaches. And after 6 years of research I am still learning.

Good luck!

David

Yep... all indicators are lagged.. So it is often not a good idea to use them on there own as this would often mean you were chasing setups, which usually results in losses.

thank u so much hanover and peter. u are really nice people and today is my lucky day , I eventually kiss the girl I'm chasing now and she agreed to be my girlfriend. It's really so romantic for us students studying abroad

You did not answer the question, why would your background be important to us?