The thing is, depending on the time frame used, the market is always ranging, and it's always trending. Also most people would agree there are many approaches to Forex trading. If someone knows how to "profitably" use indicators for their particular style of trading then who is to say it doesn't work? If another makes money using no indicators, then who is to say that is wrong?
What I have noticed though, keeping it simple is easier than getting wrapped up in some elaborate indicator because the experience I have trading has made it easy to just see whats happening only on price action. Sometimes I feel like trading in different ways. I might scalp, or I might take a position and sit on it a while. I have found just one SMA tells a lots if the time period is correct for what you wish to do. Another method I use is classical chart patterns combined with the speed of price action.
It's also not just about getting the "prediction" right of which direction the price will go. Setting the SL, TSL (if used) and MM is just as critical. How many times have you been stopped out, to then see the price move nicely in the direction you thought it would? We then start blaming the broker and all sort of excuses when actualy it comes down to just not reading the overall trend well enough.
So, to surmise, I would never say its wrong for someone to use an indicator if they can show me a positive outcome using it. I would also say I don't believe there is an indicator that can do better than the human brain at finding out ways to achieve the same sort of results.
What I have noticed though, keeping it simple is easier than getting wrapped up in some elaborate indicator because the experience I have trading has made it easy to just see whats happening only on price action. Sometimes I feel like trading in different ways. I might scalp, or I might take a position and sit on it a while. I have found just one SMA tells a lots if the time period is correct for what you wish to do. Another method I use is classical chart patterns combined with the speed of price action.
It's also not just about getting the "prediction" right of which direction the price will go. Setting the SL, TSL (if used) and MM is just as critical. How many times have you been stopped out, to then see the price move nicely in the direction you thought it would? We then start blaming the broker and all sort of excuses when actualy it comes down to just not reading the overall trend well enough.
So, to surmise, I would never say its wrong for someone to use an indicator if they can show me a positive outcome using it. I would also say I don't believe there is an indicator that can do better than the human brain at finding out ways to achieve the same sort of results.