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 really good way to find right trade for trading. But depending it for trading is not advisable, you ...

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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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