A good Forex trader is someone who is able to generate accurate signals for his or her self most times. As a trader it is not good to rely on signals from a friend of from other websites, they can assist you in your predictions but should not be solely responsible for your decision making.
Below are some ways in which you can generate accurate trading signals:
1. Trade with not more than 3 currency pairs, if you study just 3 currency pairs you will be able to understand them in a short period of time. Most traders make the mistake of trading with all currency pairs, they are not the same so they work differently, just pick 2 or 3 of them and master how they work.
2. Pick and learn how to use some indicators properly. The ones I use are:
Below are some ways in which you can generate accurate trading signals:
1. Trade with not more than 3 currency pairs, if you study just 3 currency pairs you will be able to understand them in a short period of time. Most traders make the mistake of trading with all currency pairs, they are not the same so they work differently, just pick 2 or 3 of them and master how they work.
2. Pick and learn how to use some indicators properly. The ones I use are:
- ADMI
- Moving Average
- Stochastic and
- Zigzag
Just select 4 or 5 of them and then learn how they work.
3. Know the best trading or signal generation time: The best time to generate signals with indicators is from 7am to 11am in the morning and between 7pm and 10pm in the evening.
3. Know the best trading or signal generation time: The best time to generate signals with indicators is from 7am to 11am in the morning and between 7pm and 10pm in the evening.
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