What are the essential trade tools to be present in a traders toolbox ?

In my opinion all Indicators move when price moves, so far there is no indicator which can show future movement of price, If price moving in up direction indicator also show up movement, when price starts moving down after few seconds/minuites indicator also change its direction.

For forex beginners like me its very much essential that we acquire the forex knowledge first, the more trading tools we learn it will be beneficial on long run to be successful

Am still in the learning stage, its just been three months since am learning forex basics, during these days i have learnt indicators like bollingerbands, movingaverage and now learning fibonacci. Somehow i feel its complicated to learn fibonacci hope i learn it someday

learning in forex is a never ending process. but for me, its like i started doing real forex trading in my 8th day. that means i praticed only for 7 days and started my real trading. I start with only $10.. and made more 10000% of that.. i still feel that i’m not aware of so many thing in forex

Well may be the practice period was very short in your case. Just in seven days its hard to understand or to have the complete knowledge of forex. The capital with which you have started i.e., $10 is also very small to sustain in the highly volatile forex market. Anyways its true that learning should be a continuous process in forex and we need to keep updating our knowledge everyday to be aware of the changing global economy.

@mirani: When we dont have much time for analyzing or to stay infront of the terminal scalping is best to rack in pips and make some quick profit in a short span of time. But again in scalping we need to be fast and very much precise. For scalping i use M5 chart make sure that the candle color matches with the H1 chart, MA, Bollinger bands are my favorite tools for scalping.

@murali: Very much correct, not all days are sundays, may be somedays we can make profit with naked trading but not always. Just blindly closing and opening the trades will result in unpredictable results. Those who fall into trap of naked trading will turn into pure gamblers for sure. Its always advisable to analyze with the help of the tools available even the use of a simple MA is also worth a lot.

Undoubtedly tools are the most crucial and most important part of the trading and as i said the most important to be present in a traders toolbox are indicators for sure. Its good that you have started with one of the few famous and widely used indicators. Definitely you can predict better once you have learned these indicators. So, what else you think is essential for you to learn or are you willing to learn ?