Am new to forex trading, i have been practicing on demo for a very long time now …pls i wan you to tell me which is indicator is advisable as a bigginner for me to use…someone advice me to use bill williams so as to draw horizontal lines for swing high/low to follow the market but its seems its not working perfectly, so i also need you to tell me how to draw accurate horizontal lines so i can follow the market…
A new trader will have some hard time understanding how to use technical indicators as simple as Moving Average or MACD. Let alone bill williams.
May I suggest you to simply & firstly focus on price movements using a plain simple chart without the frills of using a number of technical indicators.
Please read one of this thread to get some idea of using plain simple chart and price action/movements to start your journey:
Hope you can have a good start from there.
“works PERFECTLY” You will have a hard time trying to find that. Go thru the school, if you havent already. If you have, go thru it again.
I agree with learning price action tradeing in the beginning then after that you will have a better understanding of how each indicator works. They all work well I use sma. I also try to keep my charts as clean as possible. Most indicators work for what they are intended to do. But none will make you successful. You have to know why you are getting in the market not just because the indicator told you to. For instance a sma works as support and resistance but you cant enter a trade just based on that alone you have to have price telling you to trade and indicators as a little more confirmation. Good luck and just keep playing around with price action and indicators and you will get the hang of it.
Try the ICT course. it’s free and it’s very good for helping beginners to undertand the whole psychology of trading. it’s under the newbie island in the thread “what every new and aspiring trader wants to know”. Go to the first page and watch all the youtube videos by order starting with “I know what you are looking for”. ICT is also going to try to bring a small account to a million dollars starting this January. He’s a wealthy successful trader that wants to share his experience with new traders at no cost.