Forex Indicators - How to Use Forex Indicator to Boost Your Trading Accuracy by 91 Percent
Forex Indicators - How to Use Forex Indicator to Boost Your Trading Accuracy by 91 Percent
By Kelvin Dee
Forex trading has been made more easy with the availability of forex indicators. However, with the wide range of indicators provided by your trading platform, it is very hard for you to decide which one to use. In fact, there are a total of 99 different forex indicators currently available and this actually gives me headache when I first started forex trading.
In general, forex indicators are divided into two main types - Leading and Lagging. Leading types are those that allows the traders to predict the price movement and these group of forex indicators can help the traders to place their stop loss more effectively. Lagging types are those that can only show the traders the historical trend and movement of the price and these group of indicators are usually use by the trader to indicate the current trend.
Below are some examples of these forex indicators that I usually use
Leading Type
1) Pivot Point
2) Fibonacci Retracement and Extension
2) Fibonacci Retracement and Extension
Lagging Type
1) Moving Averages
2) Stochastics
3) MACD
4) RSI
2) Stochastics
3) MACD
4) RSI
In order to boost your trading accuracy, you got to use a combination leading and lagging forex indicators to help you enter and exit your trades more effectively. 
Personally, I use moving averages and stochastics to help me to identify the current trend of the market so that I can ride the trend to profit and I use pivot point and Fibonacci to help me plan my limit for my trades. They have been a great help for me as it allows me to have a systematic trading plan.
Personally, I use moving averages and stochastics to help me to identify the current trend of the market so that I can ride the trend to profit and I use pivot point and Fibonacci to help me plan my limit for my trades. They have been a great help for me as it allows me to have a systematic trading plan.Therefore it is very important for you to choose the forex indicators that can work well with your trading plan so that you can profit from it. Lastly, you need to remember this: Always plan your trades and trade your plan.
Kelvin is a Forex enthusiast and a full time Forex trader. His website at [http://www.How-To-Trade-Currency.com] offers simple yet powerful Forex tips and strategies to help other traders to make their 20 pips a day. Kelvin's Forex newsletter is jammed packed with Forex tips and techniques for other Forex enthusiast. Subscribe for Free Forex Strategies [http://www.How-To-Trade-Currency.com] newsletter now.
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