Hi every one and thanks in advance, I am new day trader using paper and demo I get some times falls signals on my indictors and when I enter it go the other directions.
I am looking for 3 or 4 inductors to use every day and setting for them. Because I see ton on inductors and every training recommend this and that but I think all you need 3 or 4 to trade.
If some one tells me best inductors and setting to use for day trader I trade between 30 minutes to 1 hour a day so I need to enter in best time and exit in best time.
If you havenāt already, go through Babypips school.
As for indicators, donāt listen to others. If you want to learn for real, you have to study and read and test on your own.
Oh, and absolutely donāt trade with real money until you know what youāre doing!
There is no such thing as a ābest indicatorā. What works for some might not work for others. Indicators provide information based on priceās past performance. Furthermore, the information provided is subjective. You can take anyone indicator and find dozens of people using that information to trade differently.
The only way to trade is to learn how to trade. Experiment, toy with systems, and watch how price moves. Over time it will become easier.
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Thanks a lot for all advice.
In my opinion the way to make money is going in the direction of the trend and waiting for the trend to take your trade into a profit. The stronger the trend the greater the chance of success (trading is about probabilities, not certainties). Therefore I think the ADX is a very useful indicator as it tells you how strong the trend is.
I tried indicators for a long time, they are a result of the past and does not dictate nor predict the future. Price Action I believe is a much better approach, using cuurent info to make trades.
Do some research into it before getting a whole bunch of indicators.