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Sniperipheral

Which indicators are most effective with which currency

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The key is to have as many indicators on your chart as possible, regardless of which indicator works with which pair.

Forget about the price; it's just a distraction. Many people here simply use the indicators and don't care where the price is going. If they do well, they usually post the number of pips in the Cable or Euro threads, as well as the currency pair.

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1 minute ago, Chimpantzer said:

The key is to have as many indicators on your chart as possible, regardless of which indicator works with which pair.

Forget about the price; it's just a distraction. Many people here simply use the indicators and don't care where the price is going. If they do well, they usually post the number of pips in the Cable or Euro threads, as well as the currency pair.

I love it - a classic post.. 1f44f.png?v=1.0.0.3

A practical suggestion? As a starting point try studying the various currencies without any indicators at all. You will learn a lot more that way.
 
 
 
 
 
 
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Wouldn't it be preferable to determine what works for everyone rather than just some? While each currency pair is unique and has its own quirks, when it comes down to it, the price action of any instrument is determined by buyers and sellers trading their opinions (except perhaps central bank intervention). If your indicator is unable to capture or provide insight into this behavior on any instrument, it is more likely that the inefficiency you believe your indicator enables you to exploit is only temporary.

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It is less important to choose an indicator that you like and then understand its advantages and limitations.

But, for what it's worth, I know that at Barclays Capital, different indicators are used to analyze different currency pairs. For example, they use Ichimoku on the XXXJPY pairs, presumably because they want to see what other XXXJPY traders are seeing. However, it is possible that whoever is assigned to do the daily analysis on the JPY pairs enjoys Ichimoku.

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I believe that the issue is not which indicator works best with which currency. It is the integration of various indicators into your trading system that ensures that it is suitable for the currency pair with which you are trading.

After trading a currency pair for an extended period of time, you will develop a general sense of its movement and, with the assistance of some indicators, you will be able to trade profitably with that currency pair.

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Managing risk is critical for every trade because it allows us to reduce the amount of risk we are taking on. We must also be disciplined if we are to effectively manage risk. The difficulty lies in the fact that not everyone is proficient in this area.

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If you want to become successful in the forex market, you have to get all the basic knowledge of forex perfectly and properly.
 
 
 
 
 
 
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I am not an expert. But I prefer moving average using on major currency pair.

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