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  1. #1
    Rookie Member

    Charts, Indicators, and Jazz music... !!!

    Hi all -
    Just looking for some general insight on this. I'm relatively new to trading Forex, and would like to get some insight from the community. I am currently learning the technicals side of charting (i have a good grasp on the fundamentals side), and have landed mostly on Bollinger Bands and MACD, along with Candlestick patterns as being a good set of tools to learn. What i'm looking for is what the community here mostly uses. I know it will vary depending on the individuals knowledge and comfort level, but just want to see if im on the right track....

    Thank all....Dan

  2. #2
    Veteran Member Ammeo's Avatar
    I used to be a Bollinger Bands,Stochastics and MACD maniac but with time passing by i have changed my approach to more fundamental. But for short term like from intraday to like 3 days its the technical side that holds more ground.

  3. #3
    Master Member Bogdan G's Avatar
    What about Jazz?

  4. #4
    M.J
    M.J is offline
    Veteran Member M.J's Avatar
    Quote Originally Posted by danimaltex View Post
    Hi all -
    Just looking for some general insight on this. I'm relatively new to trading Forex, and would like to get some insight from the community. I am currently learning the technicals side of charting (i have a good grasp on the fundamentals side), and have landed mostly on Bollinger Bands and MACD, along with Candlestick patterns as being a good set of tools to learn. What i'm looking for is what the community here mostly uses. I know it will vary depending on the individuals knowledge and comfort level, but just want to see if im on the right track....
    Thank all....Dan
    I use Candlestick patterns but do not like it.
    I like Jazz music but cannot use it

  5. #5
    Legendry Member willyw's Avatar
    I am using bollinger band & MACD, too. I also use SAR, fibo, fractal, candlestick

  6. #6
    Rookie Member
    Thanks guys!.... Great info.... (i was listening to Jazz at the time )

  7. #7
    Senior Member dorrian's Avatar
    MACD is very important. I use also ATR for the volatility charting and few EMAs to determine the trend. Everything else is PA trading (price action) – dynamical support and resistance levels, trend lines, etc. etc.

  8. #8
    Moderator Kolyo's Avatar
    Quote Originally Posted by danimaltex View Post
    Hi all -
    Just looking for some general insight on this. I'm relatively new to trading Forex, and would like to get some insight from the community. I am currently learning the technicals side of charting (i have a good grasp on the fundamentals side), and have landed mostly on Bollinger Bands and MACD, along with Candlestick patterns as being a good set of tools to learn. What i'm looking for is what the community here mostly uses. I know it will vary depending on the individuals knowledge and comfort level, but just want to see if im on the right track....

    Thank all....Dan
    Hi danimaltex,

    Welcome here and wish to have a nice time. I will give you my honest answers. Trading gives best results when fundamental and technical sides are combined. If you use only simple technical rules your system won’t be sustainable. Also very important is the combination of entry rules. Depending solely on one indicator is not a good choice, but combination of two or three is much better when one is used as a filter and than if the condition is met the second is used as entry rule. For example Bollinger as a filter and specific MACD value as entry point. Candlesticks are very helpful but they need much more practice and are much difficult to read them and analyze especially without enough experience.

  9. #9
    Legendry Member Michael Hodges's Avatar
    Kolyo is right about the candles, they are a harsh mistress, candles are best used as the last confirming indicator, not the first. once trend is set, a signal is generated then look at the candle action and see what it says. Candles by themselves can be a bitch. Any candle can form at any time in any rally or any decline. You never know what super near, near or short term news/noise will cause the market to surge, pullback or sit and wait. the candles that will mean something important will happen in conjunction with other indicators, typically have high volume and will be noticeable larger than the average candle that forms on the chart. you have to ask yourselves questions like, is that really a doji or is it just a spinning top, and, is that really an importantly long upper wick or just a big one.

    Candles can be used alone but it is triiiiiiicky

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