Hi,
I've read recently a lot of threads in this forum and I've noticed that a lot of traders here think indicators are bad and cannot work in trading Forex. It seems a lot of people here are trading just price action. I can understand their arguments, but I think nobody should say "it doesn't work" when there are people who are successfully trading with indicators.
I have already live trading experience, but I consider myself still a newbie in this business. I'm successfully trading using a CCI overbought/oversold system (+100, -100) on a 4H-chart. I define the trend and filter the signals so that I trade only in the direction of the trend. And that's really all what I do from the technical aspect.
I believe that trading with indicators can work, like with every other strategy, it's about Money Management and Psychology. Of course people who take EVERY signal or get panic if an indicator doesn't behave like it "should" will fail! But it shouldn't be generalized.
I had the opportunity to learn trading with indicators from real traders, not some forum guys or internet gurus. The guys are trading for years and had success.
It's about understanding that indicators have no predictable power. They are lagging behind price and you have to know how to filter the signals!
So, let's discuss! What do you about think indicators?
I've read recently a lot of threads in this forum and I've noticed that a lot of traders here think indicators are bad and cannot work in trading Forex. It seems a lot of people here are trading just price action. I can understand their arguments, but I think nobody should say "it doesn't work" when there are people who are successfully trading with indicators.
I have already live trading experience, but I consider myself still a newbie in this business. I'm successfully trading using a CCI overbought/oversold system (+100, -100) on a 4H-chart. I define the trend and filter the signals so that I trade only in the direction of the trend. And that's really all what I do from the technical aspect.
I believe that trading with indicators can work, like with every other strategy, it's about Money Management and Psychology. Of course people who take EVERY signal or get panic if an indicator doesn't behave like it "should" will fail! But it shouldn't be generalized.
I had the opportunity to learn trading with indicators from real traders, not some forum guys or internet gurus. The guys are trading for years and had success.
It's about understanding that indicators have no predictable power. They are lagging behind price and you have to know how to filter the signals!
So, let's discuss! What do you about think indicators?