Indeed we tried to ‘nail’ this one on my thread, here:
http://forums.babypips.com/forextown/79992-am-i-really-trader.html
There are trader which only trade with price action and candlestick paattern , but still they can making good profit, in my opinion is understanding with the market behaviour will making easiness in trading and indicator only help tool trader will know if they backtest indicator as signal confirmation for several month
This post is helpful for me i’m new to forex too and i don’t know if i should combine all 3 types of analysis ot just focus on technical to trade :51:
No analysis is 100% certain and that certainly applies to technical analysis too. That said, I prefer to it to fundamental analysis, but with the understanding that I am dealing with probabilities, which more often than not are quite high.
Humans are creatures of habit and technical analysis allows us to see how we have behaved in the past, giving clues as to the likely way we may behave in the future, given similar circumstances
Technical analysis works because the charts give you all the data of supply/demand, panic/greed in a visual way.
Thanks I’m checking that out right now. There is also a threat on 3 ducks here which seems very helpful
I have actually used support and resistance sometimes, normally with trend lines and moving averages. I probably should use them more 
Haha but it sure takes time to read the signal correctly. And a bit of luck for sure
That was a good read and something I have always questioned, Trader is not a term I like to use for my own trading, but I am a long way from the Buy and hold Buffett model, I have my long term retirement account where I might once a month move money from an underperformer to a better investment. Forex I am more active but no where near a day trader. Portfolio manager or risk manager might better describe what I do.
Should you trust to a technical signal depends on who is providing it. Should you trust to a technical analysis: yes. I believe that technical analysis is the most reliable way of trading.
This is one interesting and educative thread , Checking the 3 ducks system out as well. :23: :57:
In forex nothing is final that signals, technical , fundamental or robot trading is profitable all the time . Depends on time and trader’s own skill of trading what thing brings good results to him .
Maybe will different opinion for trader that prefer based ion fundamental anlaysis, might they will said if fundamental analysis will better than technical analysis, but I think both is not always perfect as analysis approach, risk strill there although we already making technial analysis but as long as still have more winning trades it already called as good result
Here is a Technical signal, Pin bar reversal at top of a uptrend. This is an technical signal that I would have a very high level of trust and would never trade against it.
We have to look at the whole story rather just one page of a story to understand it completely. Similarly in technical analysis we have to see the whole scenario rather just one candle stick. By properly checking the overall scenario we can trust the technical analysis.
Technical analysis still become important part to analyze the trend market, as trader usually still prefer use technical analysis than fundamental analysis because more simple to learrning and directly faced wirth the chart to analyze the trend market
Technical analysis still become important part to analyze the trend market, as trader usually still prefer use technical analysis than fundamental analysis because more simple to learrning and directly faced wirth the chart to analyze the trend market
I use the 3 ducks system as my basis. Really simple, one indicator in 3 time frames. Look up the thread and read the 1st few pages, then download the free pdf