As a newbie in forex trading, at the beginning I have little experience in analyzing the forex market and forecasting the trend of currency pairs. It’s very difficult for me to go long or short. I have learned a lot from Babypips School and also some popular forums in my country. There’s a free indicator that gives signal trend to traders. I give it a try and think it’s quite good and easy to use, especially No repaint.
See, the red line indicates the downward trend and the blue one shows the upward trend. Should I start a real trade with this? :33:
I think if we use it with other indicators, it could bring us more accurate trend forecast in forex trading.
Is there any idea about this? Hope to get comments from you guys.
Problem with using other indicators is that you tend to filter out just as many good trades as you do bad. But if you apply price action or candlestick patterns you stand a lot better chance of comfirming an enrty n exit point. Also a much overlook factor. Time of day. Add these onto you plan and you will be your way.
Actually, i usually trade EUR/USD in TF M30 at US Exchange Time zone. I’m also interested in trading Gold. I see this indicator can apply in both forex and gold.
I often make 3% balancer/1 trade.
Anyway, could you plz share your experience when you first put your footprint in forex trading market?
