News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Mixed
Oil - US Crude
Mixed
Wall Street
Bearish
Gold
Bullish
GBP/USD
Bullish
USD/JPY
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • 🇨🇳 House Price Index YoY (APR) Actual: 4.8% Previous: 4.6% https://www.dailyfx.com/economic-calendar#2021-05-17
  • Heads Up:🇨🇳 House Price Index YoY (APR) due at 01:30 GMT (15min) Previous: 4.6% https://www.dailyfx.com/economic-calendar#2021-05-17
  • Wall Street stocks closed broadly higher, setting a positive tone for Asia-Pacific markets at the weekly open. April retail sales growth fell short of expectations, cooling fears about tapering Fed stimulus. https://www.dailyfx.com/forex/market_alert/2021/05/17/Dow-Jones-Hang-Seng-ASX-200-Outlook-Tech-Rebound-Bolsters-Risk-Appetite.html https://t.co/nPgJAQVSzh
  • *Reminder: Weekly Strategy Webinar tomorrow morning at 8:30AM EST (12:30 GMT) on DailyFX!! - https://t.co/lxd5fZnn4H
  • 🇯🇵 PPI YoY (APR) Actual: 3.6% Expected: 3.1% Previous: 1.2% https://www.dailyfx.com/economic-calendar#2021-05-16
  • 🇯🇵 PPI MoM (APR) Actual: 0.7% Expected: 0.5% Previous: 0.6% https://www.dailyfx.com/economic-calendar#2021-05-16
  • 🇯🇵 PPI YoY (APR) Actual: 3.6% Expected: 3.1% Previous: 1% https://www.dailyfx.com/economic-calendar#2021-05-16
  • Recessions can devastate the economy and disrupt the fortunes of individuals, businesses, and investors. But economic decline in the business cycle is inevitable, and your trading can be defined by how you respond to crisis. learn how to prepare here: https://t.co/e4CnobJCss https://t.co/Yo3MIcZ40C
  • 8 out of 9 Dow Jones sectors ended higher, with 83.3% of the index’s constituents closing in the green. Energy (+2.62%), materials (+2.57%) and financials (+2.20%) were among the best performers, while communication services (-2.01%) trailed behind. https://t.co/N92M1qPfCX
  • RT @Fxhedgers: MUSK DOESN’T DENY THAT TESLA SOLD ALL THEIR BITCOIN HOLDINGS - TWEET
The Reliability of Indicators is Very Much Like the Reliability of Golf Clubs

The Reliability of Indicators is Very Much Like the Reliability of Golf Clubs

Richard Krivo, Trading Instructor

A huge part of the reliability of the RSI or any other indicator for that matter will be based on the knowledge, skill and understanding of the person who uses and interprets it. On its own, each indicator will provide valid feedback based on how the algorithm behind the indicator interprets price action over the time frame of the chart on which it is placed.

To learn about it the best advice is to practice (demo trade) extensively using the RSI (or your indicator of choice) until its signals, along with its advantages and limitations are fully understood.To create an analogy here, think of a set of golf clubs. The success of the golfer who uses the clubs will dependinfinitely more on the ability of the golfer than on the club itself. If you want to get really good with a 7 Iron, you really practice with it until it becomes second nature to you…until you develop a “feel” for it.

The same can certainly be said of an indicator.As traders we have tools to use...charts, support and resistance levels, indicators, etc. How well we learn to use them will determine, in a very large part, how successfully we will trade.

The next time you see a bad golf shot, remember that it’s not the fault of the club, it’s the fault of the person who is swinging it. The next time you see a bad trade, remember that it’s not the fault of the indicator, it’s the fault of the person interpreting it.

Next: Should You Be Using Lagging Or Leading Chart Indicators? (51 of 63)

Previous: An easy way to enter using Histograms

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES