The majority of Forex traders rely on technical indicators, and have been doing so since retail Forex trading was introduced. Typical indicators like fibonacci, stochastics, and RSI type indicators have been around for many years, and are in widespread use, but are totally worthless. This is because these indicators measure the wrong quantities.
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Forex traders use these indicators because they are readily available on their trading platforms, so they presume that these indicators are valid. But Forex traders need to move on from these antiquated indicators and start evaluating smarter systems that represent what is actually going on in the Forex market. Smart trading systems that operate in real time give Forex traders the intelligence they need are available now that are far superior to the standard technical indicators in wide use. Forex traders need alternatives but most traders don't know about these systems.
It is now possible to have a real time Forex system that points you to the correct pair to trade, improves accuracy, and will turn you into a profitable trader. These "smart Forex trading systems" are available to any trader to use and are much easier to interpret than the standard indicators.. Thorough techniques for performing the proper analysis and evaluation of the Forex market across a wide range of pairs can supplement these smart trading systems. If you combine both you can have a powerful trading system for leveraging the trends of the market, while having accurate entry signals. Real time intelligence for Forex traders is here now, but very few Forex traders have been exposed to these types of systems.
These newer Forex trading systems will far outperform the widely used technical indicator systems which are not only outdated, but can be combined into an infinite number of combinations. All of these combinations of technical indicators can take years to properly test and properly demo trade, causing frustration for most traders. Standard technical indicators have various time frames and period adjustments which results in thousands of possible combinations.
Forex traders are in desperate need of better choices for their trading system, they need effective trading systems. Using standard technical indicators for Forex trading is widespread but these methods are antiquated. Forex traders know these systems are only valid for scalping a few pips here and there. Traders are looking for choices and alternatives to these systems. We suggest you make sure your trading system is reliable and accurate before trading the leveraged spot Forex market. The best Forex indicators is the market itself, not indicators.
Mark Mc Donnell is the owner of Forexearlywarning.com. We provide trend based trading plans and live trading signals for 28 currency pairs. We trade with the trends of the Forex market and use smart tools like The Forex Heatmap to guide our trade entries.
http://www.forexearlywarning.com/
Article Source: http://EzineArticles.com/expert/Mark_A_McDonnell/2204666
Article Source: http://EzineArticles.com/9216098
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