How Useful Are Charting Indicators?

Many Forex Traders have computerized charting software to help make trading decisions. There are many excellent indicators that can assist a trader- such as MACD, Relative Strength Index and Moving Average Lines, just to name a few.

Using indicators alone can reduce the probability of trading success. Why? Because the Forex market is driven by human emotion and charting software is a computerized program. Indicators only record historical buy/sell patterns; they don