admin answers:

A good Forex indicator is a must have for any forex trader get more information on forex signals here http://www.slideshare.net/Curtlectual/forex-signals-6449938

admin answers:

I’ve read a lot about Forex, but I’ve never seen a proven profitable forex indicator or strategy, despite the claims of some scam web sites.

Playing Forex can appear alluring, but the majority of people who try it lose money. All you have to do is do a web search on the words “Forex” and “lose” to see this is the consensus.

Forex is similar to what we call a “zero sum” game. You are making a bet with someone else about whether a currency will rise or fall. For every winner there has to be a loser. The net winnings of everyone combined equals zero. If you are smarter than the average player, you may make money. If you are dumber than the average player, you are likely to lose money. Most of the people making the “bets” in Forex are highly trained professionals at banks and other institutions. You are unlikely to beat them at this game.

Actually Forex is not quite a zero sum game. It’s a slightly negative sum game as the Forex broker takes a small percentage each time in the spread. It’s a small amount but over a hundred trades, it ends up being a considerable amount of money. So the average player is likely to lose money, and remember the average player is a highly trained professional and probably smarter than you.

There is a lot of luck in Forex, and if you play it, you will have some periods of time where you make money. This is usually because you are having a lucky streak, not because you have suddenly become an expert Forex player. However, most people are unwilling to admit their success is due to luck. They become convinced they have a system that works, and lose a lot of money trying to refine it.

Further complicating the problem is the large number of Forex scams on the internet. Most Forex websites are of questionable honesty. You will find many people on the Internet that claim they made a lot of money using Forex. They are usually liars trying to make money. They will say: “Go to Forexcrap,com/q2347.” The “q2347″ is a signal to the Forexcrap site that you are being referred to them by “q2347.” If they sell something to you, “q2347″ gets a kickback. These coded signals can be hidden by different methods in the link. Other people will refer you to their own private website or blog for the purpose of trying to get money off you. Also there are a good number of trolls out there that like to pretend they are successful forex traders just for the fun of it.

I would recommend not trying to do Forex at all, unless you are a trained professional. It’s like playing poker with people better than you, with the house constantly taking a small percentage from the pot.

Read the warnings in the links below:

admin answers:

1) Is it the “best”?……No.
2) It’s a good method when it “works”.
3) It’s better to develop your own method that you feel comfortable trading instead of buying somebody else’s that may not “fit” you properly.

admin answers:

Each indicators are meant to be use in different time frame and on different purposes. So if you are short term trade, it is better for you to try to use indicator such as ADX or ATR or combine both. And you should use or combine MACD, RSI, and Stoch if you are a position trade.

admin answers:

Candlesticks are the best indicators in the world. They’re good for candlestick formation, elliot wave formation, and trend-line breakout. Mastering these 3 things, will enable you to break-even in Forex.

Knowing Money Management is equally important.

How well you manage your risk, is the only thing that will separate you from other traders.

Reading the charts and knowing your risk/reward ratio before you enter into a trade will be beneficial to you.

Some of the forex blogs i would like to recommend which contains the best Indicators help desk and explanations for drawing conclusions through it are:

http://forextradingguru.blogspot.com/

http://forexmoneymaker.blog.com/

A site that will help you to get the best forex indicators is also mentioned below.