If you are using technical trading with any of the financial markets you are naturally going to want to know what the best technical indicators are. But beware, this kind of thinking can be a trap that could rob you of trading success.
The answer to the question may be as annoying as it is useful. Before I give you the answer prepare yourself, I am warning you now that it is really annoying. The best technical indicators are the ones that work best for you. Don’t you hate that kind of answer?
Like it or not that’s the way it is. One of the reasons people often don’t like that kind of answer is because it’s like looking into a mirror that reminds people that their trading success in not about finding the right strategies or indicators. Your success will have little to do with these external tools and more to do with your own trading habits and how you use the tools.
Naturally you are going to want the best tools you can get but searching for these tools can be a trap that distracts or prevents traders from developing trading skills. So many traders neglect this thinking they can find an indicator or strategy that will make them a success. But until you develop your skills none of them will do you much good. Every trader develops their own style and what works for one may not work for another.
The exception to this is when you take yourself out of the trading equation with automated trading. With automated trading you let a computer program do your trading for you. These programs called expert advisors don’t have human habits to overcome. They can be programmed with the right habits for whatever strategy they are trading.
Expert advisors, also called robots are becoming popular with forex trading. They can be easily installed into a trading platform and can be programmed by you with what you think are the best technical indicators or can bought with an already working system.
Watch the forex robot that I use trade the forex live and see how an automated expert advisor can make money for you on autopilot.