It will be a great mistake if a trader rely heavily on one indicator and all the analysis rally around just that single indicator. It could be a way to record huge losses in forex trading and it should not be encouraged. Share your opinion.
Is it right to rely on only one indicator?
- Thread starter Potuse
- Start date
it is not good for you to rely on one indicator, as that indicator might not how the total picture of what is about to happen, you need to make use of different indicators before entering a trade.
I think that looking at a single indicator when it comes to trying to predict movements is not the most correct, you always have to look at different factors to correctly analyze the market, since one alone does not have all the information you may need.
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No, it is not advised to trade forex with just one indicator. Due to the complexity of the forex market, it might be dangerous to rely just on one indicator because it does not account for all the variables that can affect market volatility.
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