Indicator is the one of most popular name in Forex trading but how much do a Forex trader knows about Forex indicators? The definition of Indicator is indicating something or show a trend of fact and Forex Indicator is a mathematical formula based on price and time that indicate market price movement.
Forex indicator helps a trader to take the decision in which direction market is going to move in future. Almost every single Forex trader using indicators for taking trades. Some trader using indicators as a assistant to take a decision and some trader using indicators as a main base of trading. But is really Forex indicators is helping a trader?
A small story I need to tell to describe an indicator helping method. Imagine you are a driver of big truck, lorry or bus and you have a helper who is telling you the situation of the road like the traffic condition or is the road is clear or not etc. So while you are getting help from helper your driving become easy and comfortable. But if you tie up your eyes and blindly you start to driving your vehicle just only depending on your helper signal, will your driving will be accurate or it will be the risk of your life and vehicles?
Day by day you will learn what Indicators are good for you and how to use indicators as a good guide line in Forex market. But never depend on indicators blindly then you will blow your account much short time than you can imagine. Forex trading is one of the most alluring professions but it’s the most risky business too.
From online you can buy millions of Mt4 Indicator but not every Mt4 Indicators are helpful. Some of Mt4 Indicator works very good and some of very bad. the working method of indicators depends on currency trend market condition. If market goes sideways, all most no indicator work good or perfect. When market price and chart goes on the trend, indicators work good but it means not that every single indicators work properly. So before you are going to use any indicators, my recommendation is watch the video what I am placing below.
In this Learn Forex Trading – Module No 1 – Video 002 (The Indicator Myth) Forex video lesson will cover:
- Forex Indicator is a mathematical formula based on price and time.
- Trading Forex depend on indicator is profitable or loss!
- Why I don’t use indicators and EA to trading Forex.
- Stochastic Oscillator indicator review (over bought and over sold level).
- Which currencies pairs are the most tradable in Forex market?
- Multiple Indicators are more dangerous and hard to trade and make money from Forex trade.
- Depending on indicators trader’s loss their focus on chart movement and price action.
- Why so many people using indicators if they are so use less?
- What professional trades do with all indicators?
- How to learn Forex trading and trade profitably.