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    Thread: Can you depend on one indicator only?

    1. #31
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      i think not. we are not depend on one indicator because this is like a machine if market going to up then indicate for buying and if market going to down then indicate sell and we see this all trends on one indicator and this is good indicator from all RSI the RSI is good for a traders for see market level and trade with levels


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      yes of course, we can trade with one indicator, i say this because at the moment am using only one indicator which is the moving average, even though am using other trading styles such as recurrent trading chart patterns and price action system as well. but some times the indicator i use becomes the major factor that helps me on which direction to go, because of that i strongly believe that there will be traders who still will be able to make there trading decision based on one indicator


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      I think it's not right for Forex trade. Because we know Forex is a world wide business so it's movement depend on world business condition though a indicator can give signal for right trade but it's not right for trade but if a trader can follow the world economical news and use a good indicator so he can makes profit from Forex.


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      Indicators merely enables you to correctly execute your forex trading strategy. So if an indicator does just that, then you can depend on such indicator. Otherwise you may use as many indicators as deemed necessary to successfully trade your strategy, and profitably too.
      THE POSSIBILITIES IN FOREX TRADING ARE INFINITE, YOU CAN ACCOMPLISH ANYTHING !


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