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Abstract：Many traders want to find the "Holy Grail" of trading once and for all, so they apply dozens of technical indicators on the chart. It turns out that not only did they fail to bring the expected profit, but became increasingly confusing, which leads to a trading without a clue.
Many traders want to find the “Holy Grail” of trading once and for all, so they apply dozens of technical indicators on the chart. It turns out that not only did they fail to bring the expected profit, but became increasingly confusing, which leads to a trading without a clue.
Utilizing dozens of indicators is ineffective, but if you find the complementary indicators, it will be a time-saving method. Some indicators are contradictory, and superimposing them together will cause offset effects. Therefore, traders should find the best combination of indicators to create better profitability conditions for trading.
Many people have the misunderstanding concept that technical indicators are independent. They should be regarded as a bunch of tools to confirm whether the signals based on price action and other methods are valid. Almost all technical indicators have a certain degree of hysteresis because they are formed according to the past price data. Meanwhile, the advantages of technical indicators are irreplaceable. They provide us with a unique perspective on the market.
In summary, it is dangerous to rely solely on technical indicators during the process of making trading decisions. Normally, every trader makes a trade decision based on different indicators, and the information obtained will be different. Some indicators may even contradict each other. Therefore, we all need to objectively use the technical indicators.
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Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
The world of forex trading is a complex world of currencies, commodities, index funds, and many other assets and indicators that can wipe all your money in seconds if you are not up to date with market conditions, international trends, events, and simply what the US president saying this morning.
What will happen to the USD pair in the days to come ?
We are all aware of the buzz of how huge the forex market is, it is worth trillions. Yet, loss is so common with beginning traders while expert traders make lots of profits from their trades. Following every advice, tip and insight could be blamed for the loss beginning traders face. However, it all bounces back to the experience. The one thing that helps expert traders make big profits.
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