Forex Indicators

What are the best indicators to use in forex trading?

Public Comments

1. THE MOST IMPORTANT INDICATOR IN FOREX IS MOVING AVERAGES, JUST CHOSE THE COMPINATIONS OF 2 OR 3 M.A. ITS MAGIC.
2. You can't go wrong with support and resistance lines coupled with a good understanding of candlestick charts.
3. You do not need any indicators. I use to be obsessed with indicators but I have come to learn that they are nothing but confusion. I use candle stick patterns and support/resistance lines. However you do not need to buy a book to learn about them as the person in the answer above suggests. There is plenty of free information available on candles and support/resistance lines. www.forex4noobs.com http://www.forex4noobs.com/education/basiccandles.php http://www.forex4noobs.com/videos.php http://www.babypips.com/school/ http://www.babypips.com/school/support_and_resistance.html Both these sites contain information on candle stick patterns and support/resistance lines. The first site has an extensive collection of candle stick info and great videos about support/resistance lines. The second site contains some information about support/resistance lines and candles too.
4. I have simplified my life and increased my profits when I got back to basics. I use a pair of moving averages (a 5ema and an 8 sma) on a daily and a 4 hour chart. I glance at it once in the morning when I get up and once in the evening before I call it a day. I wrote an entry and exit strategy report highlighting how this works if you would be interested. Just send me an email and I will give you a copy. I was a day trader for 3 years but I would find myself spending way too much time glued to the screen. Now I spend time with the family and work on my golf game. I hope you find a way to simplify your life as well. Paul
5. Hi Andrew T, There's no such thing as "best indicators" per se ... only better or worse ones (depending on market as well). Well, let's just put it this way ... the best indicator is yourself. After trading for more than 2 years, I've come to realise one thing ... less is "more" but there's no special number. These days I trade with little or no indicators and I've said the same thing on articles I write for Asia-Pacific Trading Magazines before. If you like to take a look at a "indicator less system" that is also a non-blackbox trading system that have proven to perform well in the forex market consistently and that don't cost much. LondonWhisper is an example of that. If you're really committed to profiting from the market consistently with a reliable and well thought out mechanical system, then waste no time in heading over to http://www.forextradingstrategysystem.com The system is backed by not just a 100% guarantee but a 110% moneyback guarantee so you've simply got nothing to lose. Hope that helps buddy! =)
6. I just use Moving averages and MACD.