Powerful Indicator in Forex Trading
Dear All,
Assalamualaikum,
I can't help it but to put it inside my blog on the above topic. Just an hour ago I shared with all of you about a little profit that i made yesterday. Hmm... added together actually i've making quite a lot last week (around 2400+ pips). Hey... that's just me... other traders might be doing a fortune already. Thanks to Hosni Mubarak of Egypt and the market turmoil that affected USD.
Well back to our topic. So what is that powerful indicator that i really wanted to share with you all? We know there are hundreds of indicators used by forex traders but which one actually happening? which one would make a fortune for us? in short which indicator will make us Millionaire???
Honestly i have been actively using few indicators since the last few years. Along the way, i realize that it is actually totally up to you to choose or to use any indicator that click with your trade. I personally used a combination of few indicators. You know like... hybrid engine. err... am i right?
Most of you out there knows how to use Moving Average indicator right? Well that's it... i've been using Moving Average (MA) and it works like magic. A word of cautious: it only useful for swing traders (weekly) and long term traders (monthly).
The magic number is MA 5, 20, 50.
What type of MA? Try Exponential.
How to use it? When all lines crosses from above downwards: Sell
When all lines crosses from below upwards: Buy
What is the time frame to look at? hourly, 4hourly and daily.
A wise word: sometime reversal might happen even after the cross. Therefore wait until MA20 and MA50 different by 30 pips as normally the trend will follow uptrend (bullish) or downtrend (bearish) after that.
Another wise word: Don't try to be a hero by not putting a stop-loss. 50 pips would be a nice number.
Well Good Luck traders. I dispersed this little knowledge of mine for your perusal. You might already know the power of MA but for beginners, if you wanted to know more about other indicators, don't hesitate to contact me. I may not experts but trust me there are no such thing as experts in Forex trading.
Happy Trading! :-)
-Hakim-
5.00am
Assalamualaikum,
I can't help it but to put it inside my blog on the above topic. Just an hour ago I shared with all of you about a little profit that i made yesterday. Hmm... added together actually i've making quite a lot last week (around 2400+ pips). Hey... that's just me... other traders might be doing a fortune already. Thanks to Hosni Mubarak of Egypt and the market turmoil that affected USD.
Well back to our topic. So what is that powerful indicator that i really wanted to share with you all? We know there are hundreds of indicators used by forex traders but which one actually happening? which one would make a fortune for us? in short which indicator will make us Millionaire???
Honestly i have been actively using few indicators since the last few years. Along the way, i realize that it is actually totally up to you to choose or to use any indicator that click with your trade. I personally used a combination of few indicators. You know like... hybrid engine. err... am i right?
Most of you out there knows how to use Moving Average indicator right? Well that's it... i've been using Moving Average (MA) and it works like magic. A word of cautious: it only useful for swing traders (weekly) and long term traders (monthly).
The magic number is MA 5, 20, 50.
What type of MA? Try Exponential.
How to use it? When all lines crosses from above downwards: Sell
When all lines crosses from below upwards: Buy
What is the time frame to look at? hourly, 4hourly and daily.
A wise word: sometime reversal might happen even after the cross. Therefore wait until MA20 and MA50 different by 30 pips as normally the trend will follow uptrend (bullish) or downtrend (bearish) after that.
Another wise word: Don't try to be a hero by not putting a stop-loss. 50 pips would be a nice number.
Well Good Luck traders. I dispersed this little knowledge of mine for your perusal. You might already know the power of MA but for beginners, if you wanted to know more about other indicators, don't hesitate to contact me. I may not experts but trust me there are no such thing as experts in Forex trading.
Happy Trading! :-)
-Hakim-
5.00am
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