Was good on this video. Wow. I’m so excited because for the next 12 days we’re going to be looking into different technical indicators on your mt4 charts that you need to avoid like cancer, like play. And I know these videos are going to create some controversial discussions because it is possible you are using them. It is possible I might not be using them, but you know what makes you succeed in life is ability to change.
You know, in my over 12 years experience in Forex trading, I have tested a bunch of these indicators myself. And of course that was what led me to actually spend a fortune building my own customized indicators for myself. And of course I know what was it game that most of you might agree with these videos because these are what you are using and these are what I use.
You are using, you know. Oh, so thinking about it, most of all these indicators, were created when there was nothing like Facebook, when there was not like artificial intelligence, when there was not like a Tesla, and when I was talking like Amazon.
As I said, we are going to be looking into 12 MT4 technical indicators to avoid in your Forex trading. Okay As I said, I’ve been using some of these myself before until my eyes got opened to, you know, I would call it an insight. Okay. And then let’s start looking at them.
So the first question is, if you want to buy a TV, okay, if you want to buy TV right now, which of these two would you buy this one Okay, will you buy this TV or you’ll buy this So if you to buy it, you buy this. There was a time that’s, you know, some of these television sets they were the reigning once, right But right now, if you are just in your, in your living room, people will have to pray for you.
Okay If you want to surf or browse the net, okay He wants to use Facebook or a Twitter. Which of these phones will you use Will you use this one or will you use this or you will use this. Okay, I want you to answer the question. So which this will you use, okay.
Now lastly, if you want to travel by rail, okay, you want to travel, let’s say from UK, you want to travel from London to Frankfurt and you want to go by train. Or you are in New York, you know, you want to travel by train. So which one will you use? Will you use this or You will use this one. I mean, so it’s just a question. Which of these will you use?
That’s very simple questions that I want you to answer and in this video because there are a lot of things we do simply because somebody told us that this is how to do it or this is what should be done. And nobody ever chance or time the question it okay, and some of these indicators, the were invented for stocks.
I mean you can see your indicators here. the trend lines, you see the oscillators, you see the volumes, you see the bunch of them. There are over 10,000 different out there. So which one’s are good which one are bad Okay. I’m not saying all of these aptitudes are bad or no, I mean I use some of them in combination with another one for better result.
So I just like what I showed you, you know, you want to travel, you will not be going by the train that was invented in 1922. You want to browse the net, you will not be using this form that was invented 20 years ago. I know, of course you want to trade Forex. So why will you be using in the indicators that were invented, okay, 50 60 40 years. So let’s dive into it.
So number one, number one indicators that we’re going to be looking at is trend-line. Okay. You get it right here. You see joy, trendline. I pick this and everybody got this wrong. Everybody. Okay Okay. Let’s say for example now with this market you are looking at, this is zero USD then the chart. So what will you say, which direction is this market Will you say this market is going up or will you say this market is going down. Will you say this market is ranging is trending.
So looking at it, if you want to draw a trend line. Okay. Pick your trend line. You draw. Is this the correct toy Okay. Is this the correct way Okay. If you drop this correct or that client. Okay. That okay. I’ve drawn this out to one, two, three, four, five. Okay, so I taught for five days. Or will you draw it like this We will live pick these. I like these PDs. Which one would you say is the correct of cause I got this, I got this, I got this all. Would you say it’s a correct one You’ll pick this and then of course I can also take it down. Right Okay. At least I got two weeks right there. Or which one will you say is the right one, you say you say it is this.
So I mean every bodies, trader a would drive here, would draw the trendline like this. Trader b Could draw his whole like this. Trader c would draw this whole like this draw walks. They are looking at the charts they are looking at. Right So this is daily chart. If I go to four hours chart, all what have drawn are not relevant right here. Okay.
All have drawn they are irrelevant of this particular, so it means if I did it all this one right now. Okay. And I have to draw another one. So okay, this is on four hours, so I’ll will you draw on four hours. So you pick a day, you say, okay, right here, is it this okay or peak again You said it’s from here. Oh, so not so forth. I believe you get it.
So what I’m basically saying is that their is no one standard way of doing it. Everybody just invent their own way. I am not saying you shouldn’t use it. I am using it with other tools sometimes when the need arises, but I just want to avoid using it. Totally. I think the better for or your chart because everybody just do what somebody or somebody or somebody has told them to do.
And of course that is why I decided to build my own indicators and that is why I decided to use my own, you know, custom indicators because we spent a fortune building it. And of course it gives me peace of mind because I know this was not created 30 years ago, 40 years ago, this was created to meet the need present times.
So I hope you get a something from this video. So tomorrow we will be looking into technical indicators number two that you need to avoid using on your mt4 chat. And if you’re watching this video, you have not subscribed to this channel. Please do me a favor. Go ahead. It’s the button below this video right now. Subscribe to this channel. And of course if you have not liked this video, like it live your outlet to, you know, hear your view. Okay, maybe I’m wrong.
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