Can I trade mostly based on technical analysis?

This is a discussion on Can I trade mostly based on technical analysis? within the Forex forums, part of the Markets category; TA is useful on any chart ........just mix it in with other things you like .......and experiment experiment experiment ............

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Old Dec 25, 2016, 6:37pm   #16
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TA is useful on any chart ........just mix it in with other things you like .......and experiment experiment experiment .........
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Old Dec 27, 2016, 6:34am   #17
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TA is really good way to find right trade for trading. But depending it for trading is not advisable, you can always use another things with it to get accurate result.
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Old Dec 28, 2016, 2:43pm   #18
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Originally Posted by june_girl7 View Post
TA is really good way to find right trade for trading. But depending it for trading is not advisable, you can always use another things with it to get accurate result.
The problem in technical analysis is that you can be PhD in math and know how to build sophisticated mathematic models but if you start from WRONG preconditions (what actually requires very good logic and understanding of economic principles) then all your calculations and analysis are waste of time.
You should clearly understand WHAT you need to calculate and the second question is HOW.
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Old Dec 28, 2016, 4:12pm   #19
 
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Yes you can.. Most people I know use TA because sometimes it is hard to predict the news.. For small traders like us we have to use whatever we can to get an edge.. Do you a lot of back testing before using a system though..

This guy use TA all the time
https://youtu.be/T4-lWyf7wQ8
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Old Dec 31, 2016, 3:33pm   #20
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Originally Posted by june_girl7 View Post
TA is really good way to find right trade for trading. But depending it for trading is not advisable, you can always use another things with it to get accurate result.
Yeah, technical analysis, would be a nice way to analyze the market. And than you could just earn from it.
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Old Jan 1, 2017, 3:38am   #21
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98% traders either lose all or don't make money because they use TA
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Old Jan 1, 2017, 12:06pm   #22
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98% traders either lose all or don't make money because they use TA
I sense many will argue against your opinion as they are heavily invested in TA.
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Old Jan 1, 2017, 12:49pm   #23
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I sense many will argue against your opinion as they are heavily invested in TA.
All good because this is the truth.
A lot of retail traders have frequent small wins using TA and then they get one or two big losses which will take away all their hard earned profits eventually.
TA is based on past info and does not incorporate upcoming info. So It may appear work only when there is no news.
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Old Jan 1, 2017, 12:57pm   #24
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All good because this is the truth.
A lot of retail traders have frequent small wins using TA and then they get one or two big losses which will take away all their hard earned profits eventually.
TA is based on past info and does not incorporate upcoming info. So It may appear work only when there is no news.
I concur and also trade using fundamentals although I did manage to make money using TA just not as much as I make now. Fundamental traders are rare in this forum and in fact I am fairly confident in stating you and I are probably the only ones that trade this way without any TA. I am in favour of a dedicated thread (locked down of course to keep the trolls out)
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Old Jan 1, 2017, 1:58pm   #25
 
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I think most traders could happily lose using TA FA or SA. I think the whole 'one works one dont' thing is just another distraction.
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Old Jan 1, 2017, 2:09pm   #26
 
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I think most traders could happily lose using TA FA or SA. I think the whole 'one works one dont' thing is just another distraction.
Yes and some can happily win, too. The conclusion is that it's the traders and how they manage their trades that "work" not what they might use to get into a trade in the first place.
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Old Jan 1, 2017, 2:39pm   #27
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For me, the difference between TA and FA is TA has a greater emphasis on probability. You don't know if any given setup is going to work so you have to take each one. The FA approach is more clear cut where the information gives a clear signal. The outcome is you can avoid the losses that's inevitable when trading probability. This has made the biggest difference to my trading results and I am more profitable. You also get larger wins

Last edited by forker; Jan 1, 2017 at 2:46pm.
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Old Jan 1, 2017, 6:41pm   #28
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For me, the difference between TA and FA is TA has a greater emphasis on probability. You don't know if any given setup is going to work so you have to take each one. The FA approach is more clear cut where the information gives a clear signal. The outcome is you can avoid the losses that's inevitable when trading probability. This has made the biggest difference to my trading results and I am more profitable. You also get larger wins
This is so true so I could not agree more.
Normal retail traders probably don't really understand what you're saying because they don't know which fundamental info affects currency substantially and permanently and why.

It's nice to meet you
Have new year

Last edited by victorycountry; Jan 1, 2017 at 6:46pm.
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Old Jan 2, 2017, 9:52am   #29
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i ignore all else ( apart from eco calender)
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Old Jan 5, 2017, 6:07pm   #30
 
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Really and truly Technical analysis is all you need to trade the psychology of the market is within the money, identify those points that the market has rejected (Support & Resistance Areas That Carry An Average Price That The Market Is Respecting) and trade based on what you see, not what you think. when trading there's no magic or some sort of special 'formula' which is gonna make you a **** ton of money, trading forex you will make money and LOSE money, it's all about the consistency of making more than what you lose, for example you made 2000 bucks in a week & lost 300 bucks total profit is 1700 bucks, as long as you keep that consistency, you will go very far in trading forex because you will just keep improving
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