Which of the trading strategies and indicators have the highest probability or success rate?
Run all the strategies and indicators through an algo trading back test using your brokerās feed and list the results.
Inversely, find the worst trading strategy and indicators then do the opposite.
I am thankfully grateful
Exactly, Knowing what doesnāt work often points you straight to what does!
What worked for others may not work for you. Always remember this.
there is not absolute answer for this, different people use different things. I personally like price action with volume indicator only before this i did also use other indicators
Same here.
(But obviously not for trading spot forex/CFDs, for which volume isnāt available, it being a decentralized market.)
The decentralization of the spot forex market is really so well, so clearly and so repeatedly explained in this websiteās excellent āschoolā that it seems very odd that itās so misunderstood in the forum.
Iāve seen, in many threads, what looks almost like a āconspiracyā of apparent determination not to understand or even acknowledge the point.
Iāve even seen members being attacked and accused of spreading misinformation for referring to it!!
I just donāt understand it at all.
People trying to trade spot forex need to understand clearly that any purported āvolumeā figures that a CFD ābrokerā is claiming to give them are based only on the bets of their own customers, for the glaringly obvious reason that they donāt and canāt have access to any other volume information.
The volume for most brokers is tick volume, not volume of orders. Itās not a direct correlation, but more ticks suggests more participation and a higher actual volume.
People trading on ātick volumeā - itās actually a ātick-countā and unrelated to volume - are (often unknowingly) using it as an approximation of volume.
But even the tick-count available represents only the bets of their own customers. They have no other ātickā information to give anyone, because itās a decentralised market.
Thank you much
This is very much the point.
I think people see the words ātick volumeā and imagine that the figures refer to āvolumeā in the normal/trading sense of the word, but of course they donāt.
People often donāt appreciate that a single tick can be a transaction of 0.01 lots or 100+ lots.
Because spot forex brokers mislead their customers by calling it ātick volumeā, some customers imagine that itās somehow similar to volume. The point they havenāt quite grasped, at a more fundamental level, is that there can be no market volume where thereās no market.
In other words no currencies are exchanged when they simply bet against a counterparty, but some customers even imagine that if their broker is āSTPā or āECNā, then theyāre actually trading in a market. All credit to the Babypips School for explaining how mistaken this is.