There are so many market indicators, and different traders have different things they pay attention to to determine the trend the market will take. Traders look out for these indicators before they place trades. As a trader, what has been your favorite indicator to look out for? and can you give a reason?Each indicator has its own way of looking at the market, and their suggestions only speak to a certain aspect of the market. Using only one indicator may not be really appropriate if the trader wants to better understand the state of the market and the potential that may occur in the future. However, that does not prevent traders from making a profit when using only one indicator proficiently, as long as they do not forget to place stop-loss orders appropriately.
As advice, which indicator will you recommend to a new trader?
There are so many market indicators, and different traders have different things they pay attention to to determine the trend the market will take. Traders look out for these indicators before they place trades. As a trader, what has been your favorite indicator to look out for? and can you give a reason?
As advice, which indicator will you recommend to a new trader?
There are so many market indicators, and different traders have different things they pay attention to to determine the trend the market will take. Traders look out for these indicators before they place trades. As a trader, what has been your favorite indicator to look out for? and can you give a reason?I used Volume and RSI indicators in my trades because for me these two are the best indicators. Before, I used many indicators and I just discover that most of the indicators have the same used so that I removed the others and used only what I think is best, that's why I decided to use this two. Volume indicator is quite advance, so I prefer to used RSI for a new trader. Of course, you must learned how to read naked charts and knows how to trade without indicators because if you add indicators in your analysis it will make it easier for you to understand the chart.
As advice, which indicator will you recommend to a new trader?
If I had to choose one single indicator, I would recommend Sonic-R and use it on the weekly timeframe.
I used Volume and RSI indicators in my trades because for me these two are the best indicators.
And the indicators I use are Trendline, RSI, and Fibonacci.
MA, EMA, BB and RSI.
Another one that is good is Fibonacci retracement especially if the market is falling significantly.
Most of the indicators that I have in mind are probably these
- EMA
- BB
I have seen your choices, but now I have to ask if your use and choice of these indicators were influenced by where you learned trading from or who you learned trading from? Did you discover these indicators on recommendation or from your own research?I saw many traders used RSI in their trades, and I learned it from mentorship. But before that, I learned that some traders used it in a low probability way because they used it solely in the chart. They used RSI divergence when they see the price is above 70 or below 20 but they don't know how to used it effectively in the market. I have backtested this strategy and it really works for me.
There are so many market indicators, and different traders have different things they pay attention to to determine the trend the market will take. Traders look out for these indicators before they place trades. As a trader, what has been your favorite indicator to look out for? and can you give a reason?The one and only 4EMA to make support and resistance, I also look at the RSI indicator some time to check whether the token I am investing in is undervalued or overvalued. After looking at both I decide when to invest, as I wait for the right time, and I have learned this skill the hard way but I am glad that I have learned it because waiting is more crucial in trading. After getting an entry I wait for the right time to exit although that where the resistance lines come in handy.
As advice, which indicator will you recommend to a new trader?
I will just say that the opinions of users here in this thread helps me to learn more about the most common indicators traders are using. I know that using these indicators will not lead to a 100% win on every trade, but at least knowing the indicators you are using will increase the chances of getting profit in every trade.The indicator can not even give you more than 60% accuracy. If the timeframe is short like 15 or 30 minutes, the more inaccurate it will be. Longer time frame are better. Example is 4 hours or more. There are many traders that know about indicators, using it but still failing and losing more. There is more to know about trading like strategies.