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04/09/18
16:20
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Originally posted by demoniaco
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I find most indicators/tools pointless. Sure, one can find an indicator that works perfectly in an instance here and there, but not consistently enough that they're reliable to trade with.
I almost exclusively trade forex on the 2/5 min charts using nothing but :
- MACD to spot for positive/negative divergences
- Fibonacci retracements
- Trend lines for major support/resistance
- Basic TA patterns (ascending/symmetrical triangle etc.)
- A zoomed out chart to understand the 1hr / 4 hr / 1day charts to understand overall trend
Anything more complex than this and I just end up losing money.
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I used to think most of them are pointless too.
Nowadays I'm more opened to suggestions so whatever strategy that can prove to make money I'd be more than happy to give it a go, since I'm letting the EAs to do the work for me.