For the forex faq today, we shall be talking about what is a good forex indicator as well as which is the best moving average to use in your chart.
Dear Koon Hwee
I would like to Know, What is the Good Forex Indicator, if You have a good Indicator without make loss trade, Can you Send to My email.
What is the Best Moving Average?
First of all, I will like to answer your first question on what is the good forex indicator. To me, the best forex indicator to use is the macd indicator as it has several features that can help us a lot in trading.
However if you are asking for an indicator that make no losing trade, I must say that it does not exist. There is no way you can win 100% in trading. Even the best trader makes losing trades.
What we are looking for as a trader is to have a strategy that gives us a decent winning percentage of at least 60% and it must comes with a good risk reward ratio of at least 1:2.
Do not try to rely on automated indicator to help you to trade. You should learn how to trade as this is the only way you can make sure you have a money making skill for a lifetime. That is why professional trader in big institution trade manually on their own.
If there is such good indicator that works, the bank will never need any trader. They can purchase the best forex robots or software to help them to trade.
My personal advice to you is to spend some time to learn how to trade yourself.
As for your last question on which is the best moving average to use, I must say that it is the 200 EMA. if you plot a 200 EMA on your chart, you will find that the price will most of the time repelled by it as it is a strong level of support and resistance.
In addition, when the 200 EMA is sloping steeping in any particular direction, it is telling us the direction of the trend as well as the trend of it.
To find out more about this 200 EMA indicator, you can read my blog post below.
I hope that I have answered your question. If you have anything to share with us or ask me, you can write your comment below.