TopicVideo Shows How to Build Your Own Delphi Scalper Trading System
I received an interesting question from one of my blog Renegade Crypto Club Review readers recently which gave me something to think about. It was basically all about technical indicators, ie what they are, how they work, etc. I often assume that most people know all about this subject, but it's easy to forget that a lot of people new to forex trading will know absolutely nothing about technical indicators.To summarise, technical indicators are basically mathematical formula based on the past performance of a particular currency pair, and more often than not are based on price and/or volume. They are used to help determine where the price is likely to move in the future so you can then make trading decisions based on this analysis.
I should point out that there is no such thing as the perfect technical indicator. Although there are now hundreds of different indicators to choose from, you will not come across one that is able to predict the future market direction of a pair with anywhere near 100% accuracy. They are basically there to guide you and to help you find high probability set-ups.It's also true that just adding more and more indicators to your charts will not necessarily increase your overall success rate. This is because the more indicators you use, the more likely it is that you will get a lot of conflicting signals, which results in greater confusion and fewer opportunities to trade.