My name is bright but my friends call me olisa. I started learning forex about a month ago…it’s not been easy buh hopefully I’m making progress. There are lots of indicators but I would like to know which one is very necessary to be profitable?
Welcome to babypips Bright.
In the past people were looking at past price performance via indicators which was supposed to make life easier with booming computer era. These days people are moving away from any indicators as sooner or later you stop watching price and will focus on indicator. When you find out, that one indicator is providing more false signals, you will start looking at another one which is going to be the same. Then you will stick to 3 indicators and will be looking for (or shall I be more specific and say force to find) signals that will be in confluence and you will end up with charts full of indicators completely ignoring where price has been and where it is likely to go next. You will find that many will disagree here but my honest opinion is don’t even start with indicators. Everything you need to know is in price chart itself. You can search for naked trading to get a clue what it is. I was influenced by one trader who is hated here on babypips, but I believe you will find your edge sooner or later.
Good luck with trading.
Start with 1 simple moving average and 1 momentum indicator. Go from there.