I also use a trend line, for me it is very simple but it really helps to see the direction of price movement. I usually use a trend line and combine with support and resistance lines. with information from the trend line and resistance Sopport, I've been able to determine the point of entry for trade.Quote:
Originally Posted by kunkeo
The trading tools are most important in this business and if you avoid the same then you cannot find the good results in your trades. The stop loss and Take profits are the best and required tools which are most important in this business.
I think moving average, most of the new traders do not use the power of moving average and beside this pivot tables is also very important for the traders because market players use this two tools.
I would advise moving average is one of the best devices for an experiences of the commercial origin. Provides as an apparent movement of the market and that will certainly help these people with indicators you can trade really well and it helps you a lot as i have used them personally and i like them very much.indicators are really tells you that where the market will go
Well personally with me i advice that you start most volatile trading session of the New York foreign exchange market, overlapping london session. Also try to maintain foreign exchange trading only pairs for the best results for a newbie.
can ahve the good best tradign we should trade with only best indicators. There are lots of indicators that do not meet the promises that they promise. That is why we should only trust those which are best proven so that we will not face loss in future trades.
dear of course I also think that moving averages (MAs) and trendlines are the most useful and easiest tools available to newbies, which can guide a newcomer easily without big analysis, but most of the time newbies ignore it as they seems very easy and useless to most of the newbies traders
Well personally with me I believe Stoch, heiken ashi, parabolic sar, are some nice indicators, ichimoku is also good, these tools can be used, there are some sites, which provide a tool for complete technical analysis, and news also economic calender is also a necessary tool.
have to use more indicators and candlestick patterns are more reliable than this it is good indicators to be used in the trading platforms and so use the strategy method to analysis the market trend bussines.
yes dear in forex business I consider newbies should not stuff their minds with many indicators in the beginning of their career as this will make trading hard and complicated, they must make it simple and learn analysis without indicators first, then by the time they will learn it easily.