If you really want to earn a living from financial speculation, you MUST not get caught up with what I call, the "The Indicator Trap!"
Because the hard truth is that most folks only Lose Money following hypothetical Indicators and trade with-out an understanding of the underlying market instrument...
Did you know that most if not all indicators are lagging?
Because an indicator reading can only be based on 3 types of data; Price, Volume or Volatility. These three elements are visible to the naked eye on a raw price chart, then why should you look at hypothetical lagging indicator(s) and trade past opportunities or an even that has already occurred in the market?
You CANNOT argue the FACT that 95% of the short term investors losing money today are making the same mistake
Conversely, if you understand indicators, you can make a truckload of cash very easily indeed.
I agree with Zupcon,
yes and no.
on forexfactory, some member are saying indicator is useless, but, if you do know how to use them is different.
In fact, indicator can give you some idea what might be the trend. So try to spend some time to learn your indicator.
know your basics ,i.e fundamental and technical , indicators are used for both ,know how , when ,whre to use it ?thats the part
Tape reading - "reading the tape or more art than science"
thats the key to trade in the long run. Read the price first and use indicators later to confirm enters and exits. Even the best systems and indicators will soon or later fail. If you dont belive in what i'm saying just watch in youtube "trillion dollar bet" and you will see what i mean. True story from 90's.
I want a forex prediction indicator or software
So many indicators are available for MT4 that we cannot judge, which one is good or which one is bad..