Forex How many indicators do you use while trading?

[Good-Guy]

Trading indicators are some of the most often used tools in the financial markets. These trading indicators are developed by many different kinds of traders in the past who have much experience dealing in the market. There are many people who tend to rely on these indicators when it comes to trading online. However, there are many things people should know.

All Indicators show past data

This is something people should know. Just because you are using indicators, it doesn't mean that you will make money. Indicators rely on past market data. This is why you should never take your positions based on the suggestions offered by indicators alone. You must always combine many other factors along with utilisation of trading indicators in the market.

Leading indicators will not make you rich either

Had leading indicators been more reliable, almost all the people on the planet would have had been billionaires by now. A leading indicator isn't technically "leading" the price. It only points out the probability of the direction of the market. In many cases the so-called "leading indicators" could also get things wrong. This is why combining indicators may or may not be a good option, depending on your strategy.

 

[moonchild]

I don't use indicators to trade because as you said they're lagging, they're not helpful because they derive their data from past price actions whereas trading happens in the now, in this moment not in the past, the best indicator you can rely on is price, that's the only indicator I follow.

I also think using indicators is a phase most traders will pass through unless they're being trained Bubba qualified mentor, it's like a passage rite, there's time in my trading that I thought RSI and stochastic oscillators will make me all the money in the market, boy was I wrong