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Originally Posted by waleed9091
hi new digital
this is my first post...
i started trade with saudi bank-i am from saudi arabia- before 5 years....i traded american stocks .. but i met also on daily basis currency traders...some of them earn milions.. some less.. but in general they are not working on indicators .. only support and resistance... some of them not speaking english...some of them do not even know -macd- ....but one of them speak english and very well educated told me the same point: do not rely on indicators...only depend on price...indicators tell you past stories only...
he was very succeful trader ....only trade on daily frame.. using support -resistance and breakout..with tight SL.
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waleed9091,
If you remember from yahoo group they developed TSD EA. And some versions of TSD was programmed by Mindaugas. Remember? According to his name spelling he should be from Lithiania. And the person I spoke with who does not care about any indicators and EAs was from Lithiania as well. And this Lithiania as I know is the very small country. Thus, there are 2 approach to the Forex trading:
- using indicators and EA for more interpretation of the data for example,
- and not using anything except the fundamental analysis.
Right?
Right.
So, if one person decided to open sell order next day by his 10 or 100 billions/millions dollars to move the price down by this money all that I must do is to call him and ask "when" and "sell or buy" (to join)? Right?
Can anybody clue me up about this second approach?