HOW TO USE THE ADX INDICATOR - 2020 TUTORIAL

Day #2 of my Forex Journey

Real quick before I get into my next steps of my FX Journey, id like to say thank you to all the people who commented on my last post! All of the tips I got were really eye-opening and introduced me to different parts of FX trading that I didn't even know existed. So thank you so much, and I hope to get more interesting feedback from you guys in the future! Also Im going to probably change my writing frequency from daily to biweekly. I think writing about every little trade is not going to be as beneficial to me as writing about my overall progress at certain points throughout the week.
I started this trading day out by learning up on order flow. A whole bunch of you guys suggested really interesting youtubers to watch, and I started with Mr. pip's series on order flow. After I finished up watching a few of his videos, I started to tweak my trading plan so that I could get in some chart time. I changed currency pair from EUUSD to the AUD/USD, the time frame from the 4 hour to the 1 hour, and my indicators from RSI, Stochastic, 2 SMAs and ADX to ATR, RSI, and Ichimoku Kinko Hyo. I also added a little fundamental analysis in my trading plan because I think that I am being far too reliant on my indicators. I planned to check the economic calendar and determine the general trend of the currency pairs that are strongly correlated to the AUD/USD before I began my chart analysis. In addition to all of my analysis, I tried to practice using the techniques I learned in Mr. Pip's videos and analyze the order flow of the chart. Even if my analysis of order flow is wrong, as long as I am getting practice I am learning.
Eventhough I planned to use today to back-test indicators and find a solid new plan, I did not have enough time. I ended up getting on my demo account really late in the day, and started to force myself to enter a trade. Destructive habits like this could lead into some massive issues when I eventually get into live trading. To combat this harmful attitude specifically, I will restrict myself to trading on certain parts of the day (for example session overlaps, news releases, and earlier in the day). Despite this mistake I still continued with my trading strategy. I calculated all the currency correlations for AUS/USD using the past weeks economic data, and set my indicators in place. After checking the overall trend of the most strongly correlated pairs (Positive: EUUSD, GPB/USD, Negative: USD/CAD, USD/JPY) I started to analyze the order flow. All the correlated currencies, except for EUUSD, indicated that the AUD/USD would fall, while my order flow analysis indicated the opposite. Seeing as though I am extremely new to order flow, I dismissed this analysis, and ended up forcing a trade on the AUD/USD going short when my indicators seemed to line up correctly. I learned from last time that I should not alter or close my trade purely based on emotion, and to just wait till the market hits my stop loss or take profit. I included a trailing stop loss of 60 pips this time, but I have no evidence to base that number range on. The trade is currently open and I am down about 30 pips.
Although I am not labeling this trade as a loser yet, I can definitely see a lot of holes in my trading strategy. The most obvious mistake in my eyes right now is my use of indicators. Currently all my trades are purely based on what my indicators say, and since I do not have any back-tested data to support the credibility of my indicators, it feels a lot like strategic gambling. Another issue is that I feel far too reliant on indicators alone. I think that if I can find ways to include various types of analysis efficiently and evenly in my trading plan I will become a much more skillful and well-rounded trader. In order to combat these two issues I will begin forming various types of trading strategies this weekend and back-test them all extensively. I also plan on researching more on price action, order flow, and Naked Forex.
Once again any and all feedback is welcome. I am just beginning Forex, but it had been a huge passion of mine and I don't plan on stopping anytime soon.
submitted by Aman-1127 to Forex [link] [comments]

ADX Indicator Video Tutorial - YouTube (ADX) Indicator + Moving Average Forex Trading ... - YouTube Swing Trading Strategies - ADX Indicator Trading ... - YouTube Trading Dengan Indikator ADX สอน Forex เบื้องต้น : อินดิเคเตอร์ ADX เทคนิคดูแรงของ ... Adx indicator

ADX steht für Average Directional Index. Der ADX ist ein Trendstärken-Indikator, da er abbildet, wie stark sich ein Trend entwickelt. Er sendet keine Kauf- oder Verkaufssignale. Er bildet demzufolge die Stärke einer Bewegung ab, nicht jedoch die Richtung. Er entfaltet seine volle Kompetenz im Zusammenwirken mit weiteren Indikatoren. Das Erkennen von Markttrends ist seine Stärke, […] Der ADX-Indikator – Das Geheimnis der richtigen Nutzung. Das Geheimnis, das mit der Nutzung des ADX-Indikators verbunden ist, lässt sich mit einem einzigen Wort zusammenfassen: Steigung. Die meisten Trader lernen, das der ADX ein leistungsfähiger Indikator ist, der Auskunft darüber gibt, ob ein Markt tendiert.Die übliche Interpretation besagt: Forex trading the ADX indicator can lead to success in trading, but only if you know how to interpret the ADX indicator Forex properly. One of the biggest advantages is that it measures both Forex trend and the strength of that trend in one indicator. When traded as taught in the video below, it can be one of the Forex trading strategies that work in real trading. Lernen Sie mehr: 2-Perioden ADX Trend-Tradingstrategie. Lesen Sie: Der ADX-Indikator – Das Geheimnis der richtigen Nutzung >>>zurück zum Anfang des Artikels Daytrading mit dem ADX-Indikator. Dieser Artikel wurde im Original von Galen Woods auf seiner Webseite veröffentlich: Day Trading with ADX Indicator Der ADX kann dabei helfen, jedoch wie alle technischen Indikatoren, ist er nicht der heilige Gral. In den obigen Beispielen wurde ebenso versucht, sich an Tages- Diagramme zu halten, da diese längerfristigen Ansichten besser geeignet sind, um dem Trend zu folgen und den Tradern dabei helfen, sich nicht in kurzfristigen Bewegungen zu verfangen, die oft zu einer schnellen Serie von Verlusten ... Mit dem ADX-Indikator können Sie den Trend, die Trendstärke und die Bandbreite bestimmen. Durch die richtige Anwendung des ADX verbessern Sie Ihre Tradingstrategie. Wo und wie Sie den Average Directional Index im MetaTrader richtig einstellen und ihn interpretieren erfahren Sie hier. To use the ADX indicator in the Forex Market, you have to develop a strategy that uses the ADX to filter the trend. ADX – TRADER JOHN TUTORIAL FOR BEGINNERS. The Directional Movement (DMI), conceived by the famous technical analyst Welles Wilder, is an indicator that allows you to identify the first direction followed by prices. The indicator, which is usually calculated over 14 periods ... Step #1: Wait for the ADX indicator to show a reading above 25. Before we even look to see if the market goes up or down, we must first wait for the ADX indicator to show a reading above 25. Based on the ADX indicator trading rules, a reading above 25 is signaling a strong trend and the likelihood of a trend developing. J. Welles Wilder was a prolific designer of trading indicators that have survived the test of time. With his broad experience with the markets, Wilder knew that the key to trading is getting the context right.. But how do you evaluate the context? Wilder’s answer is the ADX indicator.. Wilder designed the Average Directional Index (ADX) as an indicator to interpret market context. Chartanalyse ADX: Hier finden Sie die Erklärung zu dem Börsen-Begriff ADX

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ADX Indicator Video Tutorial - YouTube

Great video explaining and simplifying how traders can use the ADX Indicator. (ADX) Indicator + Moving Average Forex Trading StrategyTwo EMA + ADXBest Strategy What is the ADX indicator? The Average Directional Index (ADX) Indicator,... This Professional Forex video of ADX indicator that explaining and simplifying how traders can use the adx indicator with full support by Trainer Mr. Muhammad Shahid Memon. If you've ever been ... Swing Trading Strategies - ADX Indicator Trading Strategy & Moving Average. Swing Trading strategy with ADX Indicator and Moving Average For Beginners Explai... Selain dalam trading forex, indikator ADX juga dapat diaplikasikan pada instrumen lainnya, seperti saham dan reksadana. Jika Anda ingin membaca ulasan artikel, berita, serta analisa lain, silahkan ... สอน Forex เบื้องต้น : อินดิเคเตอร์ ADX เทคนิคดูแรงของเทรนด์ เทรด Forex มือใหม่ ...

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