To be really honest, making pips in forex is subjective only on one indicator; Price action. I really don’t see the need to group rankings with so many indicators that we don’t really follow, probably as a result of price actions at the time. Remember, we are emotion traders, right?
Making money from the foreign exchange market is probably less feasible if we do not use a tool to understand the signals that price actions tell us.
Now, let the site be an example.
When trading GBP / USD, let’s assume that the pair starts to merge with the GBP that wins and you are probably a long pair. You get excited, you win, and suddenly, if you look good enough, you notice the strength of the GBP lag, but your indicators still confirm the trend, so instead of taking your profits at that time, you probably leave the trade open and suddenly before your eyes and even before being able to say “Jack” the tide changes as you lick your burned finger, while obedient indicators simply follow the suite in this last minute change. Poor you..
Now, could you tell me what he means by that? Following our indicators are probably the best options, but it is safer to consider the current price action in relation to these indicators.
In my chart I have SMA100, I tested and saw that when prices break through it (up or down) there is always a rally, but after looking carefully at the price action, I came to the conclusion that this is not always the case. So many times prices have broken, just to the contrary.
Do you want to make money trading forex? Be careful with pricing actions! I can’t help but say this over and over. I have also said this several times, and in order to be in the right trend and early enough, say 70% of the time, learn to consult with longer time frames. You earn more. Good luck to you there.
Do you want to trade profitably on the foreign exchange market? Get more glasses and enjoy your vacation? Then always watch the pricing actions.