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  • #1
  • First Post: Sep 9, 2021 2:31am Sep 9, 2021 2:31am
@JotaP I feel it it's the experience rather than just the knowledge about the indicators. Big players know the ins and outs of the market and are used to the market movements. The thing with newbies is that they believe that forex is a get quick rich scheme hence they ignore all the signs and market movements, and trade without any study or research. The thing that differs a novice from a big player is patience and discipline, I believe that's the reason why every new trader falls under the 90-90-90 rule..
  • #2
  • Sep 15, 2021 1:28am Sep 15, 2021 1:28am
Quoting BWilliam
What does "study" mean?
Study basically means analysing the market in order to make profitable buy and sell decisions. This analysis includes both technical and fundamental. It is done to predict which currency is likely to be stronger for a given period of time. Traders purchase a currency which they expect to increase in value and sell the one whose value is expected to decline.
  • #3
  • Sep 15, 2021 1:41am Sep 15, 2021 1:41am
Quoting momo3HC
I think it`s a 50:50 situation. Yes, you`re right, there`s no need to over use indicators but not use them at all... it`s quite strange for me.
I too feel that a blended approach is good. Since both manual trading and automated trading have some perks as well as downsides, if we completely rely on manual trading, it gets really hard to keep the psychological aspect out of trading.
  • #4
  • Sep 15, 2021 2:13am Sep 15, 2021 2:13am
Quoting Inadame
at some points you will start to use just price actions and line tools
Price action is also closely assisted by technical analysis tools. It is up to the individual trader to choose whatever meets his requirements.
  • #5
  • Sep 15, 2021 2:40am Sep 15, 2021 2:40am
Quoting TradeBlazer
"naked charts" I just need daily pivot points and EMAs to see trends. Then if I am considering an entry then I will look at stochastics for guidance. I have also heard that top traders who work at banks don't use much indicators either.
One should only take the risk of trading without indicators if he is really confident in his strategy. I feel that using indicators makes the market more clear and there’s no harm in it if you know how to interpret the signals properly.
  • #6
  • Sep 16, 2021 12:07am Sep 16, 2021 12:07am
Quoting Vudokus
I can only partly agree with you here. You are absolutely right that studying the market is much more important than just use a bunch of indicators and it is also not very good idea to use millions of them simultaneously. However, I wouldn't say that they are absolutely useless. I believe that the main advantage of using indicators is the fact they visualise market information in different way. Even moving averages don't supply the traders with any new information of the prices. THey just represent the trends in lines which can be very convenient...
Knowledge is really very important. When we do automated trading we rely on the skills of another trader who has created that signal or indicator. Having a sound knowledge yourself can really help you make profits by setting the right parameters for your indicators.
  • #7
  • Sep 16, 2021 12:33am Sep 16, 2021 12:33am
Quoting romulorios
The more you study, the less indicator you use. When I started 2 years ago, my monitors were full of indicators. Over time, I studied and automatically removed the indicators. If I use moving averages on my chart, what is the logic of using stochastic? It has indicators that tell us the same things. Indicators are just a distraction from what is really going on. Currently, I only use what I really need and read. An indicator, it needs to be easy to read. He knocked his eye, understood what was happening. I believe they are on the right path. Sorry...
I don’t think there’s anything wrong with using indicators. The only thing that matters is success. If you are able to do this without indicators go ahead . I always prefer following a mixed approach, hybrid of both indicators and study.
  • #8
  • Oct 13, 2021 1:03am Oct 13, 2021 1:03am
Earning money should be the secondary goal of a trader, first he should try to learn the intricacies of the market and then only there’ll be probabilities of money flowing into the account.
  • #9
  • Last Post: Oct 14, 2021 12:02am Oct 14, 2021 12:02am
@cfdnest There are an infinite number of indicators. How on earth is it possible to find the best among all. I prefer to use a price action strategy.
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