Hi…
What Is The Best Indicator?..
I know it sounds an unhelpful answer, and sorry for that, but there really isn’t a single, objective “best indicator” (or at least, not without defining very precisely [I][U]what[/U][/I] you want it to indicate and for what purpose!). :8:
Thank you lexys. can you Please tell me what is the Trailing Stops?
is a dynamic stop loss. But seriously just google it up and then demo it.
It’s a way of adjusting your stop-loss as the trade moves in your direction, so that as you make profit, you’re limiting the amount of that profit that you can lose if it suddenly turns round and moves against you.
You can do this either manually, by watching carefully, or even in an automated way.
It’s a big and complicated subject.
Regarding [I]automated[/I] trailing stops, my own opinion is that in general, for most systems, most of the time, they actually [B][U]lose[/U][/B] money, though the people using them quite often don’t realise this. I have several different reasons for believing this …
(i) When I tested my own five little systems, only one of them gained from a trailing stop: the others all lost;
(ii) In other forums, when I’ve occasionally made this comment, I’ve always had some “Good heavens - you’re right!” comments from people who have methodically backtested it for the first time and realised that they were more profitable without the trailing stop;
(iii) All the authors whose textbooks I really respect and whose opinions have proven right and beneficial to me in other areas seem fairly opposed to trailing stops. Authors like Linda Bradford Raschke explain in their books in more detail than I can, in a forum-post, why they’re such a bad idea, overall.
They always look and sound attractive and appealing, but it’s very easy to lose count of the times a trade starts off doing well and then retraces a bit (just enough to take out the trailing stop, which has of course moved during the initial phase of the trade), before continuing on its merry way in the “right direction”. So the times that trailing stops cost money tend to be “opportunity cost” money, i.e. you make less than you might have done, i.e. they’re profitable trades anyway (often) which is why one doesn’t always “notice” as much as one would if one were looking at actual losses.
I’m not, myself, willing to use automated trailing stops in the absence of [B][U]really[/U][/B] clear-cut, statistically valid proof that they’re better than other methods. “Trying them just because they sound good” isn’t wise, to put it mildly.
Where are the institutional unfilled orders,
which is what actually moves price, going
forward?
No indicator will tell you that …
All potential traders (well, most) already have it. It is located somewhere between one’s ears.
I think the best indicator is our brain, if we can understand with the trend market behaviour hence will get easiness to determine entry and exit point, but seems still many trader seeking perfect indicator and this hard to founded and will better making practice with trial and error
I may go for moving average. Because, according to my trading experience moving average is the most valuable default trading indicator into trading chart. It helps to indicate dynamic support and resistant level. Basically, I do my live trading based on my price action knowledge. But till now I use EMA in my live chart. It also helps me to locate risky entry points.
There is no such thing as a best indicator, you have to rely on the situation and go accordingly. It is our mind which can make the best indicator. So analyse properly and then select an indicator accordingly.
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Best indicator, best time frame, best instrument to trade on, all these things are very subjective, depending on your strategy and personality as a trader. In other words, the best indicator is the one that works for you as an individual.
Different trader might will different method, and that will determine best or not I think is experience will determine, if likely comfortable using bolinger band hence it will profitable if we having experience use these indicator, but might some trader they trade without indicator and still understand how to trade
For me when I’m scalping, which is don’t do much, I use RSI. It is a good indicator, you can use its 20/80 levels for reversal signals and also its divergence to pick up some pips.
I was hoping I’d find out what the best indicator is, on this thread. There goes my hopes and dreams of financial freedom! 
Moving Average according to me is by far the best forex indicator. The reason I’m saying this is because it makes it easier to locate the opportunities in the overall trend. So, when there’s a trend in the market, you can simply use the moving average to spot the trend along with the right time to buy or sell.
I do know MA is imperative but I somehow can’t get my head wrapped around the types and the length of the perfect moving average and I guess that’s the reason I’m unable to make good trading decisions. Please help me here.
Well that’s ok coz normally traders do get confused. I did too as a beginner and this is where my brokers Fxview and Pepperstone helped me make better decisions. So, to begin with, there are 2 types of moving averages, EMA (exponential moving average) and SMA (simple/smoothed moving average). The primary difference between the two is just the speed where the former moves faster and changes its direction earlier than the latter. EMA gives weightage to the recent price action or direction and SMA takes a bit longer to change the direction.
Don’t you think because EMA reacts faster with the price change, it is more vulnerable to errors?
There is no such indicator that works equally well for all trades. We have different requirements and that means we better don’t expect the same indicator to work for all of us. It would be nice if you can try out different indicators until you find the one that works well for you.
Anyone here currently using a reliable Indicator that is suitable for scalping long term trades?