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There are actually masses of technical signals out there and thousands of technical signals combos that may be used. But the difficulty lies on the grounds. Since there are many technical signals available at your disposal, you risk yourself of having way too much of everything which can lead you with getting a grip on nothing. This ignores the question : "are you able to use too many technical indicators?"
Probably, you have asked the same question too and are trying to find the Holy Grail of combinations that will catapult you to immortality, at least in the trading world. You may test several technical indicators or technical indicators combinations that are suggested by some writings on the internet. But the thing is, there is no single technical indicator combination that is 100% successful. Because if there is, everyone will be using it and everyone will be rich right now. Right?
I'm not announcing nonetheless, the net can't give you something that you can use or the Net is simply a virtual world full of crap apropos info regarding trade indicators. We won't reject the web has given us the simplicity of access on one or two technical signals and charts, which have made some speculators informed in the field and have truly make others real fortune. What I say is that backers shouldn't depend on advised technical indicator mixes and expect to achieve success. What you must do is to learn as much as you can and identify which signals are suited to your trading style, which, can yield to higher profit or positive curve over time.
While acknowledging that, you do not need to use one or two signals immediately. Professionals agree on this. Using a couple of signals at a time will only create puzzlement. It'll only create confused claims, which isn't good if you would like to have certainty in your call.
A good example is using 7 indicators when deciding on your entry and exit positions. Four of them are telling you to enter a long position but 3 are indicating a future downward movement. While majority of your indicators are giving a green light, the other 3 can become a factor. Statistics may be on your side to pursue the trade but you are more likely to abandon it because you still see the risks.
It does not end there. Using multiple time frames can give you different conflicting information which can become a major factor in your decision. More likely, you end up not trading at all because you are afraid to take a position.
To become successful, you really do not have to have several indicators. This is quite ironic but the most effective indicators are those that have been around the longest. Experts suggest that you stay away from complex set-ups and stick on the basic like MACD (Moving Average Convergence/Divergence), Rate of Change (ROC), Relative Strength Index (RSI), Price and Volume Oscillator, and stochastics.
Even with these examples, you've got to identify which signals are suited to your trading style. Don't overcomplicate things. To find success, you do not have to consistently audition new signals to find the best combo. All that you need to do is by using and master few and straightforward ones.
Probably, you have asked the same question too and are trying to find the Holy Grail of combinations that will catapult you to immortality, at least in the trading world. You may test several technical indicators or technical indicators combinations that are suggested by some writings on the internet. But the thing is, there is no single technical indicator combination that is 100% successful. Because if there is, everyone will be using it and everyone will be rich right now. Right?
I'm not announcing nonetheless, the net can't give you something that you can use or the Net is simply a virtual world full of crap apropos info regarding trade indicators. We won't reject the web has given us the simplicity of access on one or two technical signals and charts, which have made some speculators informed in the field and have truly make others real fortune. What I say is that backers shouldn't depend on advised technical indicator mixes and expect to achieve success. What you must do is to learn as much as you can and identify which signals are suited to your trading style, which, can yield to higher profit or positive curve over time.
While acknowledging that, you do not need to use one or two signals immediately. Professionals agree on this. Using a couple of signals at a time will only create puzzlement. It'll only create confused claims, which isn't good if you would like to have certainty in your call.
A good example is using 7 indicators when deciding on your entry and exit positions. Four of them are telling you to enter a long position but 3 are indicating a future downward movement. While majority of your indicators are giving a green light, the other 3 can become a factor. Statistics may be on your side to pursue the trade but you are more likely to abandon it because you still see the risks.
It does not end there. Using multiple time frames can give you different conflicting information which can become a major factor in your decision. More likely, you end up not trading at all because you are afraid to take a position.
To become successful, you really do not have to have several indicators. This is quite ironic but the most effective indicators are those that have been around the longest. Experts suggest that you stay away from complex set-ups and stick on the basic like MACD (Moving Average Convergence/Divergence), Rate of Change (ROC), Relative Strength Index (RSI), Price and Volume Oscillator, and stochastics.
Even with these examples, you've got to identify which signals are suited to your trading style. Don't overcomplicate things. To find success, you do not have to consistently audition new signals to find the best combo. All that you need to do is by using and master few and straightforward ones.
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