Many Forex traders, at one point or the other, believed in and searched for the 'Holy Grail' of Forex trading. A good number are still searching. Somehow, the 'Holy Grail' is elusive and the search for it, often, a pipe dream.
Indicators may help, but the 'Holy Grail' may be how you use them. Two different traders may use the same set of indicators: One trader may hit wealth with them, the other may end in ruination.
Newbies to Forex forums, including myself a few years back, often asked which indicator or set of indicators particular forum members put on their charts. You may even read on forum threads where members ask, 'Which Moving Average settings' are on certain charts. But really, such traders may fare better by asking, 'How do you use the Moving Averages on your chart?' In fact, any forum member may be better helped if they ask, 'How do you use the indicators on your chart?' rather than asking which indicator settings.
More importantly, rather than searching for a failure-proof indicator, or hopping from one indicator or system to the other, it is better for long-term and consistent trading success that any Forex trader work on their trading skill, trading style and trading discipline.
This thread is focused on trading ideas, resources, analyses and information that could help us all become better traders with emphasis on continuous improvement of trading skill, trading style and trading discipline. In my opinion, being a master of your trading style, improving and honing winning trading skills, and matching it with solid trading discipline that gives you an edge are central to your long-term success in the Forex trading business. Members who share my sentiments or who feel they have something of value to contribute towards this end are welcomed.
Contributors may post about how they trade and how they use the indicators they trade with but they should not promote any system, indicator or indicator settings here. Besides, contributors may share trading ideas, resources, experience or information that help build profitable trading skill and solid trading discipline. They may also post on how changing their trading styles have made them better traders.
Key Rules:
Contributors to this thread should:
1. Uphold FF code of ethics, particularly being respectful and civil; and
2. Focus their posts on being valuable members of the FF community rather than promoting themselves or any hidden agenda.
Individuals who come here with an aura of self-importance and try to put down other contributors will be sanctioned.
Trade safe and prosper.
KP
Indicators may help, but the 'Holy Grail' may be how you use them. Two different traders may use the same set of indicators: One trader may hit wealth with them, the other may end in ruination.
Newbies to Forex forums, including myself a few years back, often asked which indicator or set of indicators particular forum members put on their charts. You may even read on forum threads where members ask, 'Which Moving Average settings' are on certain charts. But really, such traders may fare better by asking, 'How do you use the Moving Averages on your chart?' In fact, any forum member may be better helped if they ask, 'How do you use the indicators on your chart?' rather than asking which indicator settings.
More importantly, rather than searching for a failure-proof indicator, or hopping from one indicator or system to the other, it is better for long-term and consistent trading success that any Forex trader work on their trading skill, trading style and trading discipline.
This thread is focused on trading ideas, resources, analyses and information that could help us all become better traders with emphasis on continuous improvement of trading skill, trading style and trading discipline. In my opinion, being a master of your trading style, improving and honing winning trading skills, and matching it with solid trading discipline that gives you an edge are central to your long-term success in the Forex trading business. Members who share my sentiments or who feel they have something of value to contribute towards this end are welcomed.
Contributors may post about how they trade and how they use the indicators they trade with but they should not promote any system, indicator or indicator settings here. Besides, contributors may share trading ideas, resources, experience or information that help build profitable trading skill and solid trading discipline. They may also post on how changing their trading styles have made them better traders.
Key Rules:
Contributors to this thread should:
1. Uphold FF code of ethics, particularly being respectful and civil; and
2. Focus their posts on being valuable members of the FF community rather than promoting themselves or any hidden agenda.
Individuals who come here with an aura of self-importance and try to put down other contributors will be sanctioned.
Trade safe and prosper.
KP
Do your homework, follow the footprints of smart money