This Has Probably Been Asked 100 Times But.. | Forex Factory

Options

Permalinks
Print Thread

Similar Threads

100$ -->100,000$ (period: 12 months) 207 replies

Best Times/Worst Times? 14 replies

I've asked this before BUT I realy need to know 13 replies

100 pip STOP for a 100 pip Target 7 replies

This Has Probably Been Asked 100 Times But..

  • #1
  • First Post: Feb 12, 2008 6:49pm Feb 12, 2008 6:49pm
What are the best indicators to use...? I have been using 1,2 Hour Charts... with a Moving Average ( Exponential ) set at 5,12 along with a Relative Strength Index set at 21. My results in spotting trends have been modest usually..... Make 5 Pips.. Make 5 Pips... Lose 10 Pips... I am also trading on a mini-account with about $500..... Would greatly apreciate any help thanks.. How many confirmations should I look for before taking a position?
  • #2
  • Feb 12, 2008 6:56pm Feb 12, 2008 6:56pm
Hi,

Indicators confuse you? They are all prone to whipsaw.

Some people are successful with indicators, but you don't need them to be a great trader.

Check out Jims thread....

http://www.forexfactory.com/showthread.php?t=2331

A very generous professional trader with proven experience and success. What he provides for free in that thread you can earn a living off of. Technically.

Start from the beginning. It's a HUGE thread, but you'll be hooked from the first page on!! I promise.
Bundy's status today: "Waiting..."
  • #3
  • Feb 12, 2008 7:40pm Feb 12, 2008 7:40pm
WOW... 5 pages in , and i am very thankfull...
  • #4
  • Feb 12, 2008 8:21pm Feb 12, 2008 8:21pm
Quoting Joe2920
WOW... 5 pages in , and i am very thankfull...
Awesome eh?

It won't guarantee you success of course, but it'll start you on a better path than most traders head down.

REALLY let it sink in. He's telling you more than just "trade this bar pattern". Re-read it if you have to. ( I have many times!)

Learning to wait for one of those set ups in the right place and then knowing exactly how to excecute the trade will come with experience, as you will see later in the thread.

Like all techniques there are winning trades and loosing trades, so practice on demo accounts. ...You have to get used to that balance going down as well as up. It's all part of it. Taking 2 or 3 or more loosers before the payoff trades. That sort of thing.

,Bundy
Bundy's status today: "Waiting..."
  • #5
  • Feb 12, 2008 8:22pm Feb 12, 2008 8:22pm
Quoting Joe2920
What are the best indicators to use...? I have been using 1,2 Hour Charts... with a Moving Average ( Exponential ) set at 5,12 along with a Relative Strength Index set at 21. My results in spotting trends have been modest usually..... Make 5 Pips.. Make 5 Pips... Lose 10 Pips... I am also trading on a mini-account with about $500..... Would greatly apreciate any help thanks.. How many confirmations should I look for before taking a position?
Do a search for "fti", you will be surprised. It is possible to win in forex without the indicator madness. They are really too slow; and most people seem to lose with them. Money management is the way. Good luck.
Empty as water and soft as a facing wind mountain
  • #6
  • Feb 12, 2008 8:36pm Feb 12, 2008 8:36pm
Quoting luSan
Do a search for "fti", you will be surprised. It is possible to win in forex without the indicator madness. They are really too slow; and most people seem to lose with them. Money management is the way. Good luck.
I can't belive I left MM out!! Thanks luSan.

There are really good posts on Money Management out there. Check them out.

It sounds boring but it's difinitely key!!! Powerful. Very important.

i.e. Even risking just %1 of your account can get you very VERY good returns, yet still give you staying power for those lean times.
Bundy's status today: "Waiting..."
  • #7
  • Feb 15, 2008 7:22pm Feb 15, 2008 7:22pm
Very Helpfull Bundy Thank You!
  • #8
  • Last Post: Feb 16, 2008 4:09pm Feb 16, 2008 4:09pm
There are only 4 Indicators that I 100% trust.

1) Ratiocination.
{Otherwise known as...your Mind}

2) Core
{Otherwise known as...your Heart}

3) Stomachic
{Otherwise known as...your Gut}

4) Conditional Reflex
{Otherwise known as...your status of Training Level}

And That, My Friend, is The Indicator.
GL & HTH
0 traders viewing now