Worst Forex Indicator / Tool Ever
Every trader has their own best trading tool – whether it is a simple moving average or a complex system that combines volume, market sentiment indicators and the Elliott Wave count performed on numbers. of Fibonacci. It seems that Forex traders favor the simpler methods. The simpler the indicator, the more fans it usually has.
But when it comes to indicators that people don’t like, things get a bit mixed up. On the one hand, less sophisticated traders will tend to hate more complex analysis tools. On the flip side, experienced traders would be fed up with moving averages, RSI, or whatever. At the same time, anyone who has been successful in trading currencies and applying various indicators has a tip or two regarding things that are really unnecessary or downright dangerous for your account.
The main reason for publishing this guide is to warn traders (especially new ones) to stay away from inefficient trading tools. Getting a timely warning about totally counterproductive tools will help newbie traders thrive and avoid below average trading methods.
We use the general word tool in this survey because it includes not only analytical methods, but also decision making and trading execution methods. It can be an indicator, system, rule, or anything else related to buying and selling currencies.
Our own list of the three worst FX tools includes: tick volume (because it is so
And the worst tools mentioned most often by our readers are:
- Stochastic oscillator
- relative strength index
- Bollinger bands
- Pivot points
- Trend lines
- Elliott waves
- Price action
- Ichimoku Kinko Hyo
- News negotiation
- Candlestick models
- Chart models (harmonics / Gartley)
- Renko Graphics
- Parabolic SAR
- % Williams range
- Tick volume
- Average directional index
- Wolfe waves
If you would like to share your thoughts on indicators or other analytical tools that you consider to be the worst in Forex trading, feel free to do so on our Forum.
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