Forex Indicators

FOREX: I just opened a demo account yesterday. I am losing allot. What indicators do you suggest?

Public Comments

1. It's a lot like a slot machine. Unless you know really detailed information, like what the chairman of the board had for breakfast this morning, you are bound to lose. And any indicators will be after-the-fact, so it will be too late. All the insiders will have taken the money already and you'll be left with an empty wallet. About the best you can do is look at it as entertainment that you pay for. Enjoy !
2. I've done the same. (I've even lost a bit on my real account). Here's what I'm doing now; I've opened an account with FXCM.com. They have many trading tools. Some for free... Some cost money. I've signed up or their $169.00 course at the end of April (with on line "live" assistance. I'm reading a lot on this topic. Only 1 in 10 investors are "winners" in FOREX trading. 60 - 70% of their trades are losers. It's all "risk management" combined with understanding charts & fundimentals. FXCM also has a free seminar (2 days this June), 9AM - 5PM. If this all works for me I may search for a less expensive FOREX dealer.... ("may" being the key word). RIGHT NOW ALL I WANT TO DO IS LEARN..... This stuff isn't easy... but it is fascinating... and maybe rewarding......
3. This advice is probably not worth a lot, but trading currencies is just like trading stocks, with the one big exception that you are doing it on 10% margin, so your gains and losses are magnified 10x. A trend once started tends to continue, so look for a trend and ride it. Is the currency trading above the 50 day and 200 day moving average? Is the currency at the bottom of the bollinger band? Be sure to cut your losses very quickly and let your winners ride. Even double up.