using 10 indicators far better than trader using one

Many traders want to find the “Holy Grail” of trading once and for all, so they apply dozens of technical indicators on the chart. It turns out that not only did they fail to bring the expected profit, but became increasingly confusing, which leads to a trading without a clue.

Utilizing dozens of indicators is ineffective, but if you find the complementary indicators, it will be a time-saving method. Some indicators are contradictory, and superimposing them together will cause offset effects. Therefore, traders should find the best combination of indicators to create better profitability conditions for trading.

Many people have the misunderstanding concept that technical indicators are independent. They should be regarded as a bunch of tools to confirm whether the signals based on price action and other methods are valid. Almost all technical indicators have a certain degree of hysteresis because they are formed according to the past price data. Meanwhile, the advantages of technical indicators are irreplaceable. They provide us with a unique perspective on the market.

In summary, it is dangerous to rely solely on technical indicators during the process of making trading decisions. Normally, every trader makes a trade decision based on different indicators, and the information obtained will be different. Some indicators may even contradict each other. Therefore, we all need to objectively use the technical indicators.

WikiFX is a global Forex inquiry platform and provides real-updated rankings of

Forex brokers. So if you are seeking a broker to start your Forex trading journey, please search the detailed information about the broker on the WikiFX.