How many theories and (or) indicators do you need?

DenTe

Trader
Apr 15, 2016
30
3
19
38
Chisinau, Moldova
I spend a lot of analytical work before the opening of transactions, because I try to share my knowledge on the forums. The basis of the analysis I use the theory of Elliott. But I never guided by only one confirmation of the forecast. I believe that the way to forecast accuracy is through the correct combination of strategies and indicators. So often I use trend theory, candlestick patterns, Stochastic, Moving Average, Fibonacci.
How do you think? If you combine, how many and what methods you combine?
I will be glad to know your opinion.

Den
 

Enivid

Administrator
Staff member
Nov 30, 2008
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I rarely combine two or more technical indicators to confirm a trading signal. Most of the indicators are based on the same price data - adding them together does not increase accuracy but instead adds lag to the combined signals.
 

GazFx

Banned
Nov 13, 2012
478
73
74
62
Melbourne, Australia
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I like to keep it simple. Price action, SR and Trend lines, viewed over multiple time frames, i.e. Monthly, Weekly, Daily, and 4-hour. Longer time frames tell me about price direction and key SR levels, and shorter time frames tell me when to enter/exit. It's about 70% accurate.
 
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MartinBa

Trader
Apr 20, 2016
27
1
9
36
My trade strategy based on the trend theory with determination of The significance and potential levels. And use diff. tf for determinate the main dirrection and his stage.
 

radex78

Banned
Nov 15, 2015
676
17
54
45
In trading usually I am not use too much indicator, most analysis still based on candlestick pattern and price action, I like with this way to analyze the trend market than using indicator because more simple in my view, using indicator also need discipline to obey rules indicatir and if fail can't blaming indicator
 

DenTe

Trader
Apr 15, 2016
30
3
19
38
Chisinau, Moldova
I rarely combine two or more technical indicators to confirm a trading signal. Most of the indicators are based on the same price data - adding them together does not increase accuracy but instead adds lag to the combined signals.
I caught your point of view. But, for example, the fact that I combine several methods of analysis gives me psychological support, if all methods show the same thing. Conversely, if, for example, the Elliott theory show one thing and patterning - is quite another, I will refrain from trading. Less risk of falls on my account. I also want to note that different methods of analysis of the market have different accuracy. For example, determining the levels using Fibonacci, you can achieve higher accuracy than just draw a trend line.
 
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DenTe

Trader
Apr 15, 2016
30
3
19
38
Chisinau, Moldova
Friends , I have spent almost 10+ years in Forex Trading and what I have found that to become successful in Forex Trading Requires Disciplined mindsets on few things such as Always Trade with the Trend in case Unable to find . over net you will have tons of materials and free forums where you can get ideas where the actual trend is going and based on that you are supposed to find out the Support and resistance Areas and once you have got that , make sure never risk your trades more then %3-%5 at a time . if you are able to adhere to this idea you are good.
Yes, of course, the most important risk management in trading. It is rule for earnings.
 
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GazFx

Banned
Nov 13, 2012
478
73
74
62
Melbourne, Australia
www.youtube.com
I caught your point of view. But, for example, the fact that I combine several methods of analysis gives me psychological support, if all methods show the same thing. Conversely, if, for example, the Elliott theory show one thing and patterning - is quite another, I will refrain from trading. Less risk of falls on my account. I also want to note that different methods of analysis of the market have different accuracy. For example, determining the levels using Fibonacci, you can achieve higher accuracy than just draw a trend line.

This makes sense. If multiple indicators conflict, stay out. Comparing time frames is another way to look for signal conflict. Whatever works best for the individual trader, I guess!
 

radex78

Banned
Nov 15, 2015
676
17
54
45
I don't like usng many indicator in my trades, but might for certaiun trader they like use few indicator forex and it help much tro built up self confidence, might experience will giving us more lesson what kinds indicator that giving best signal
 

radex78

Banned
Nov 15, 2015
676
17
54
45
Many theory in forex business and maybe one theory that very popular is ellioth wave which this theory will learning about wave that occur on the market that often repeaating certain pattern
 

Twin butterfly

Active Trader
Apr 11, 2016
366
7
29
35
It all depends on your strategy how you work with it in Forex. I use 3 or 4 indicators for my Forex system to get the perfect trade for a day.
 

radex78

Banned
Nov 15, 2015
676
17
54
45
SInce I am as beginner still like with trying kinds indicator from third party that in chart seems very good in view, but sometime use indicator can making platform being low responding and it will disturb trading activity because often will open and closed manually but platform stop to responding
 

aqibFXmart

Trader
Jul 5, 2016
28
2
9
34
I like most traders. I prefer to rely on trend and trading only slightly indicator, an indicator that I am setting a long-term, the trend toward more visible. and I use Ichimoku indicators and factal.
 

jellyeb

Active Trader
Jun 10, 2015
248
11
29
I spend a lot of analytical work before the opening of transactions, because I try to share my knowledge on the forums. The basis of the analysis I use the theory of Elliott. But I never guided by only one confirmation of the forecast. I believe that the way to forecast accuracy is through the correct combination of strategies and indicators. So often I use trend theory, candlestick patterns, Stochastic, Moving Average, Fibonacci.
How do you think? If you combine, how many and what methods you combine?
I will be glad to know your opinion.

Den

I use MACD to check exceptional divergence and that's it, the rest is basic S/R, impulse and news. That's all tools I use in my trading.
 
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radex78

Banned
Nov 15, 2015
676
17
54
45
I like most traders. I prefer to rely on trend and trading only slightly indicator, an indicator that I am setting a long-term, the trend toward more visible. and I use Ichimoku indicators and factal.
I am not use ichimoku, but I am ever reading if this indicator already as complete indicator and can used to preidict movement ahead because cloud will always show in from of the end candle, but I like simple trade with price action now
 
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Mohdfx

Active Trader
Sep 22, 2016
53
5
29
29
Kuala Lumpur
I use moving averages sometimes with price action and it is enough for me.. I don't know if it's fully right, cause I trade for less than a year at the moment. But I have more profit than losses for now :)
 

Navigation FX

Trader
Nov 2, 2016
96
1
12
34
Main Toolbox: Moving Averages, RSI Indicator, Fibo & Price action.

Extras: Stochastic and others that @jellyb has talked about as well.

ichimoku is personal preference to what type of trader you are

Just remember that around 80% of the time its fundamental analysis and 20% technical analysis :D
 

wisetrada

Active Trader
Mar 4, 2014
53
5
39
What some traders fail to get is that the sheer number of indicators a trading system has does not automatically make it a winning system. What matters most is how well the trader understands it. Using just one exponential moving average if well understood can still fetch you your pips.
 
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Winjak

Active Trader
Sep 22, 2016
57
9
29
48
Jakarta
I personally trade on H1, H4 and D1 timeframes and usually look for confirmation at H1. I use support and resistance levels with PA patterns: Pin-bar, doji, inside bar, outside bar. I use only MACD indicator to look for divergences. What concerns the fundamental analysis, I watch the news and dynamics of the main economical indicators: GDP, inflation, interest rates and so on... But I give priority to technical analysis.