So today we’re going to be looking into four determining factors in Forex trading. Okay. Four things that determines when you buy or when you sell in forex. So number one is what I called the technical indicators.

Okay, these are technical indicators. You see where you have all of these trend lines. So these are all indicators were developed, some of them over 2030 40 50 years ago. Some of them 1960 something, some of them 1970 something. You know, these technical indicators, they are great. They are very, very useful. Or the, the problem is that most of these technical indicators were actually created to trade stocks, not forex, but one way or the other people began to use them to trade Forex. And most of these technical indicators they were created when there was nothing like Facebook, Amazon, Tesla, you know, all this artificial intelligence trading software.

So all these technical indicators were not there then. So people are still using them. Okay. To trade Forex. Of course you will agree with me that Forex trading today is different to what used to be 10 years, 15, 20 years ago. So technical indicators are great, but of course there are better ways to use them. And of course starting from tomorrow I’m looking into 12 Forex technical indicators to avoid.

One of the factors that determines where you buy or when you sell, are technical indicators. I mean, for example, simple technical indicators like a moving average, somebody might just, okay, you know what, this is a 50 moving average. When the prices is above it, you are looking to buy when the price is below 15 moving average you’re looking to sell. That is if you are dealing with medium trend, if you are short term trader, you are looking like maybe you are fostering like 20 simple moving average, a long time trend trader you’re looking to like 200 moving average, so on and so forth.

So what do you trade with just a tread-line alone. Okay. So all of those, we’ll start looking into them starting from tomorrow. So the first one, first factor that we’ll consider, okay. When it comes to Forex, to know when to buy or when to sell. The number one of them is technical indicator.

The second one, of course, he’s what I call fundamental analysis. Okay Fundamental analysis and that is what we’re talking about news. That is when you know, whether it is right time for you to buy or to sell. For example, I’m creating this video now, it is 8am central time. There’s going to be a news coming out by 8.30. That is in the next 12 minutes. So if we, if I have the trading opportunity now to trade out, that’s the Euro, USD or any USD pairs, I will not take that trade.

Why Because there’s a news coming up in the next 12 minutes. So if I take that trade right now, it might be impacted negatively by the news. Okay So that is the second thing that we’ll consider when it comes towards trading. The second factor that determine when we buy or when we sell.

The third one is called sentiment analysis. Okay Sentiment in the sense that I might be looking at one minute and another tree that is looking at daily chart. and two of us are right based on what we are looking at, but the question now is okay, who is more right Like for example you see this, okay, you see these, this is downtrend right now it’s downtrend and of course is one hour chart, so now somebody might look into this and say, okay, yeah this trend is down, right

That is that person’s sentiment on looking at the market. Meanwhile, another person can just look up let’s say like a weekly chart. I see. Okay. The chart is up, why Because the prices are above 50 moving average when it comes to weekly and another person can just look into five minutes chart and say, okay, the trend is done. I know that person can look into 30 minutes. So what we’re saying in essence is that the, the sentiment analysis depends on individual traders and these also influence where you buy and of course when you sell.

The last one is the price action price option. What matters most when it comes to Forex after all is price. So what is the price doing? The technical analysis, fundamental analysis and the sentiment analysis doesn’t really matter that much, but the price, what is the price doing at that particular time. So we’re good to go start looking into all of these four factors, one after another or starting from, we will start looking into technical indicators. Out of all of these thousands of technical indicators.

In my 12 years to 13years trading experience – Trust me, I have used bunch of them and I will tell you confidentially, I will tell you know categorically, and I will tell you seriously right now that most of these techniques are just junks. That is why you keep loosing money. And of course that’s why I don’t use most, most, most of them. Even the one I use, I make sure that I don’t use them alone I combine it with another one. And of course all of these, I will start to give it a starting from tomorrow. For example, I have my own developed proprietary software that I built.

Okay, this is the, I prefer these. Okay. This is one hour. I prefer using this little tray because number one, I’m very visual person. I love to just, you know, I love Colors and that is why when you see me, you of course you know that I’m a visual person. I love colors and of course that is what I used, use tradermatic trading system for everything I do. Okay, so we’re going to start looking into all of these starting from tomorrow.

Once again, I want to say very big thank you. And if you have not liked this video, make sure you go ahead and like this video. If you have not left your comments, leave your comment. If you have questions, leave your comment below this video. And of course if you have not shared this video, make sure you share this video so that you will have chance to win 7,500 now cash gifts from Nigeria. And if you are not from Nigeria, do when the equivalent a month in your currency and of course we’ll send it. Okay. Thank you so much for watching this video once again. Now we see you tomorrow.