Easy to get carried away with indicators

ehenderichs
ehenderichs Posts: 22 ✭
in Beginners Questions
So I discovered a pitfall of mine and that is wanting to learn and use all the indicators I have read about. Thus switching often wihtout grasping the essence of one or two indicators. So for now I have decided to stick to three indicators:
- candle stick formation (signals)
- moving averages
- stochastic movement indicator

I know this approach is better for learning but not sure I choosen the best indicators to start with. Feedback is appreciated.
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  • Raiden
    Raiden Posts: 186 ✭✭
    Determine first what your style of trading is. Then what type of market you like to trade. Build a strategy around that and perfect it. You will learn more than jumping from one strategy to the next.
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  • ehenderichs
    ehenderichs Posts: 22 ✭
    Thx for the feedback. My trading style? That is a good one, did not come acros a lot information about trading style and what I found seemed related for forex trading. What do you mean by style of trading in binary options? Expire time(s)? Continuation? Reversal?
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  • Raiden
    Raiden Posts: 186 ✭✭
    Yes - exactly.
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  • Bandyleg
    Bandyleg Posts: 8 ✭
    Only been playing at thi sa couple of weeks and even i knew that brexit would cause havock!! GBP -USD sky rockets then falls on its backside the day after the vote! I watched it happen lol
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  • The_Geek_MH
    The_Geek_MH Posts: 860 mod
    did you make any trades?
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  • Bandyleg
    Bandyleg Posts: 8 ✭
    edited July 2016
    Me?? Yep I made trades, I won a little and lost little more. This is the perks of practice accounts im no trader im only playing at this currently although I am 100 GBP up today, 1 close call one good call. That amount might not seem a lot but if you had seen my test account a week ago it may as well be million :)
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  • IQ_Option_Support
    IQ_Option_Support Posts: 61 ✭
    Hello!

    Please, check these materials to improve your skills: our blog (https://blog.iqoption.com/en/) and our educational section (https://iqoption.com/en/tutorials). Also, you can always practice on your demo balance.

    If you have any questions about IQ Option, you can always contact our Support Team (https://iqoption.com/en/contacts). It is available 24/7!

    IQ Option Support Team
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  • Samuhn74
    Samuhn74 Posts: 66 ✭
    In fact, indicators are one of the most popular and popular ways to analyze the market, so it is obvious that without them it will be simply impossible to perform technical analysis. Another question is what to choose for your work are the indicators that you understand well and really understand how to use them in practice. So, you should not ask whether you have chosen the set of indicators well or not, the main thing is that it suits you and provides your freedom of action in the market. Besides, the choice of indicators depends on your strategy, there are indicators that better react to long-term signals, there are those that perfectly show entry points on short-term positions, in any case it is better to test them first on a demo and then use them on real capital...
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