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; Technical Analysis is good but to be successful in trading it is consider only a quarter section of the pillars ...

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Old Jan 31, 2017, 8:45am   #33
 
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Joined Aug 2016
Pillars for Trading

Technical Analysis is good but to be successful in trading it is consider only a quarter section of the pillars in trading.

4 Trading Pillars

1. Fundamental Analysis
2. Technical Analysis
3. Money Management
4. Trading Psychology

Hope this helps you guys.
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Old Feb 3, 2017, 7:33pm   #34
 
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No doubt, technical analysis is useful! But, donít rely on only technical or fundamental! If you want to make money consistently from this financial market then you have to work with both of them! But I see, most of the novice traders are interested on only technical analysis!
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Old Feb 7, 2017, 7:45pm   #35
Joined Sep 2013
If you ask a question is it possible to trade basing decisions solely on price action, the answer is yes. I rarely use anything more advanced than S/R lines or better a principle of "buying at lows selling at peaks"
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Old Feb 8, 2017, 4:53pm   #36
Joined Feb 2017
of course you can, but I am not sure it's a good idea, cause the first news will blow your account. or make a great profit it depends on your luck man
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Old Feb 23, 2017, 5:34pm   #37
Joined Sep 2013
Trading can be successfully based on simple S/R levels as shows experience of my fellow (also not sure if its easy as it looks like, maybe there are also some nuances as well). But I prefer to analyze market from fundamental side as there is now place for your fancy to play tricks with you as you can find thousands of patterns that has unknown winning rate.
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Old Feb 28, 2017, 4:35pm   #38
Joined Jan 2017
Technical + fundamental always. No other way.... as another way leads only to losses
it's a working system and you can't just throw away its part.
Of course, people do it , but...
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Old Mar 16, 2017, 3:59pm   #39
Joined Feb 2017
Quote:
Originally Posted by Haffizz View Post
Technical + fundamental always. No other way.... as another way leads only to losses
it's a working system and you can't just throw away its part.
Of course, people do it , but...
I'd even say that a trader doesn't need to be a professional fundamental analyst , but at least he should be aware of the main upcoming events on the forex market
I got it after I nearly lost 305 bucks in a careless trade !!!
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Old Mar 20, 2017, 4:55pm   #40
Joined Sep 2016
Yes , Certainly why not.. provided you must be good in understand Candle Sticks and Chart patterns.
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