try to use some technical indicators. Bollinger bands and Parabolic SAR are two good indicators to determine trend direction. and also read the news. usually high impact news will create a new trend.
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try to use some technical indicators. Bollinger bands and Parabolic SAR are two good indicators to determine trend direction. and also read the news. usually high impact news will create a new trend.
i am like to use that indicator too, i am just using the bollinger band on my trading, because i have ever try around 15 indicator on my trade, the best result of my result said that Bollinger band is the best indicator, so i am just using that indicator on my tradingQuote:
Originally Posted by ratnakr
To get the forex trading true trend need to be read the technical news and fundamentals of the forex trading. Watch the market regularly and keep yourself updated with currents forex market affairs to found the true trend of market.
Trend ko pick kerna mushkil nae hota, laykin agar long term trading ki jaey tab, short term per to trend waqae mushkil ho sakta hay. iss liay behtar yehi hay kay aap long term trading karain oss may loss kay chances bhi kam hotay hain.
Yeah its good to use more one than one indicator to find out the true trend, i think parabolic SAR can also help to find out the new trend at the start. Moving average is one of the best indicator to find the trend and trend line is also best to indicate.
Jb tak moving averages show kren gi trend ko tb tk tu trend weak b ho jaye ga, mery khyall sy new trend ko start main he indicate krny k lye trend line best hy jb apki trend line break ho tb smjah len k new trend start hony wala hy.
We cannot judge the trend in M5 chart. We can indicate a good trend in only H1 and H4 chart. Actually M5 chart is for scalpers. If you are looking for a trend and want to ride it then you need to see only H1 and H4 chart.
In that case, you have to consider the time frame that you are trading. If the BB gets narrower on a small time frame, then it is merely just a retracement, but on larger timeframe like 4hrs, or D1 or W1, we will consider it a change in trend that is approaching.
You are quite right that forex is a mind game. It is a mind game based on knowledge. You should realise that the forex market only trends 20% of the time and it ranges up to 80% of the time. This is why you should set a stop loss to avoid getting too much loss if you fall into the part of the forex market that trends.
Moving average is a good way to identify trends but to get a good trend reading, you will need to use a larger Moving Average and on a Larger time frame like 200 SMA or the D1 timeframe.