Are Technical Indicators useless? - page 3.

Nrcewker

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Quote from: Best-mary on September 20, 2023, 12:10:35 AM

Nah. Indicators are just like a programmed mathematical and standard instrument that shows the big men in the crypto space what you're doing. Trust your strategy. Rather than I using indicators, I preferred going with the strategies provided by some exchanges like the sniper range or even going into copy-trading.

Indicators are used only to see the market with better perspective. These indicators provide better insights of the market for a fixed amount of time. Now using indicators doesn’t mean you will get sure profits, it’s just use for the better analysis of the market.
Now regarding copy trading, then it’s good, but sometimes it backfires. When we get serious losses due to this, we eventually end up in cursing the person whose trade we cope. Nevertheless, I would suggest to always trade by self analysis.

tjtonmoy

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I don't think they are useless. Otherwise, why do they exist and why do people still use them? I am not saying that it's gonna give you a 100% winning rate on trades but it will sure increase the chances and success rate. The more data we can process the more accurate the results are going to be. With various indicators, we are presented with that data. If we can successfully utilize that then the success rate will increase.

Now the thing about them not working sometimes. Well, the market doesn't run on calculations or mathematical terms always. Sometimes the market moves on sentiments. It creates trend hype or fear that could lead to irregular movements in the market. A machine or program having no human emotion can not compete or analyze that market condition. So the results could be unexpected. Also, indicators are not a thing that you should rely on so much.

lombok

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There are times when indicators are very useful and there are times when indicators are not completely appropriate. This depends on market conditions. Sometimes there is a moment where market movements ignore the indicators that we usually use.

Of course, our mentality and emotions must be taken care of when what we usually use and apply in analysis when trading does not apply to market conditions, we must control or stop for a moment to observe market movements. It's better to avoid to maintain balance.

wxa7115

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Quote from: DanWalker on September 20, 2023, 07:15:44 AM

Technical analysis and technical indicators are really necessary in trading or for us to make predictions for the market. But that doesn't mean that what they show us will definitely happen or that the market will move according to our analysis. For me, technical indicators only work at a relative level in this volatile market, they are not even effective because the market's volatility does not completely depend on supply and demand. The market is full of manipulation so never trust technical indicators completely.

We must remember that technical indicators are calculated based on the way the market moved recently, this means indicators can tell us exactly what has happened already but they cannot tell us what is about to happen with certainty.

This is where the skill of each trader will make a difference, as two traders can watch at the exact same indicators and take completely different decisions, and while an unskilled trader will make several mistakes, the skilled trader will be able to more accurately predict what is about to happen and take advantage out of that knowledge.

taufik123

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Quote from: Xcode7 on September 19, 2023, 10:03:36 PM

Yes, that's true and even people who just guess like gambling will lose their money in trading and then say that Crypto trading is not promising, but there are also those who learn from scratch on the contrary.
-snip-

There are many people who still practice such guesswork, even though trading is not for playing around.
Beginners who do so and only rely on their feelings will result in losses and eventually think crypto is a terrible place and does not promise anything.

Quote from: GreatArkansas on September 19, 2023, 10:32:20 PM

To be honest, if you are a trader and don't use any technical indicators, I don't think you will be successful, or I am not sure if you can call yourself a trader, maybe you can call yourself as gambler, not a trader.
Agree taufik123 about trading is the main thing in trader and it is a MUST to learn.

Technical indicators in technical analysis are the main reference or main tool used to make predictions.
Without using it, there will be many risks, traders are required to use it even if they only know the basic knowledge.

Quote from: Quidat on September 20, 2023, 01:33:28 AM

Naked trading is something that could be possible but only on the time that you are professional on reading up a chart without making use of any indicators on which you could really be able to spot out those patterns on just simply looking those candles.
-snip-

LOL, I just heard about Naked Trading. It's quite interesting, that professional traders no longer need complicated chart reading.
Just by looking at the candle positions, he will know where the market is going.
However, the accuracy will certainly not be as accurate as when combined with technical indicators.

Quote from: DanWalker on September 20, 2023, 07:15:44 AM

-snip-
For me, technical indicators only work at a relative level in this volatile market, they are not even effective because the market's volatility does not completely depend on supply and demand. The market is full of manipulation so never trust technical indicators completely.

Of course, technical indicators will not be completely correct, it's just a preliminary reading to know where the market will go, and it will not have 100% accuracy.
It can also be combined with a Fundamental Analysis of how news works and how manipulation is done, which also needs to be considered.

DanWalker

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Quote from: Xcode7 on September 19, 2023, 10:03:36 PM

Quote from: taufik123 on September 19, 2023, 09:07:58 PM

Quote from: GreatArkansas on September 19, 2023, 07:13:35 PM

In short, it is really important when you are trading.
The fact that we can trade even if we don't use any technical indicator or without analyzing at all, it's fine. But it's like you are just gambling, you don't have any basis. Because you can just easily open a trade.
I rather have a reason why I opened a trade than nothing, and technical indicators is another way for it.

Technical indicators or technical analysis are the main foundation for knowing the direction of trading.
Trading without analysis is like a blind man walking without a stick, without knowing the way and not knowing where to go.

There are even many beginners who do it just by guessing like gambling and they usually use futures trading which we know is more risky than spot trading.
It's risky enough when beginners don't know what they're doing, just wasting their money on a bad experience without any research.

Yes, that's true and even people who just guess like gambling will lose their money in trading and then say that Crypto trading is not promising, but there are also those who learn from scratch on the contrary.
Basically, in trading, technical indicators are the main thing that must be understood to help provide buy or sell signals so that the trading we do is a correct business with clear references, not just guessing.

Technical analysis and technical indicators are really necessary in trading or for us to make predictions for the market. But that doesn't mean that what they show us will definitely happen or that the market will move according to our analysis. For me, technical indicators only work at a relative level in this volatile market, they are not even effective because the market's volatility does not completely depend on supply and demand. The market is full of manipulation so never trust technical indicators completely.

Quidat

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Quote from: GreatArkansas on September 19, 2023, 10:32:20 PM

Quote from: Xcode7 on September 19, 2023, 10:03:36 PM

Quote from: taufik123 on September 19, 2023, 09:07:58 PM

Quote from: GreatArkansas on September 19, 2023, 07:13:35 PM

In short, it is really important when you are trading.
The fact that we can trade even if we don't use any technical indicator or without analyzing at all, it's fine. But it's like you are just gambling, you don't have any basis. Because you can just easily open a trade.
I rather have a reason why I opened a trade than nothing, and technical indicators is another way for it.

Technical indicators or technical analysis are the main foundation for knowing the direction of trading.
Trading without analysis is like a blind man walking without a stick, without knowing the way and not knowing where to go.

There are even many beginners who do it just by guessing like gambling and they usually use futures trading which we know is more risky than spot trading.
It's risky enough when beginners don't know what they're doing, just wasting their money on a bad experience without any research.

Yes, that's true and even people who just guess like gambling will lose their money in trading and then say that Crypto trading is not promising, but there are also those who learn from scratch on the contrary.
Basically, in trading, technical indicators are the main thing that must be understood to help provide buy or sell signals so that the trading we do is a correct business with clear references, not just guessing.

To be honest, if you are a trader and don't use any technical indicators, I don't think you will be successful, or I am not sure if you can call yourself a trader, maybe you can call yourself as gambler, not a trader.
Agree taufik123 about trading is the main thing in trader and it is a MUST to learn.

Naked trading is something that could be possible but only on the time that you are professional on reading up a chart without making use of any indicators on which you could really be able to spot out those patterns on just simply looking those candles.Yes its possible but the knowledge and experience/skills that must have is on professional level and this is why it is really that possible on having this kind of trading method but if you are really just that starting and trying out to trade without having those indicators or doesnt even know on how to read up those green/red candles then you are just
simply doing gambling.You would really be finding the relevance about those indicators on the time that you would really be able to step your foot into the market. Your mind would be telling that
having no indictor should suffice but you would really be having a huge question mark on your mind on how the heck you would be able to read up the price movements if having no indicators been used? You would really be able to tell the relevance of these things once you do decide on trading with the market. It cant really be just that possible on doing such thing in the first place.

kingvirtus09

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Keep in mind that all trading professionals employ technical indicators. Most people use it since they are aware that it can indicate, at the very least, the foundation around which a certain trader would make their prediction. If there are no instruments to base it on, we cannot just hazard a guess.

These signs appear to be comparable to a map, where we as navigators use a compass to decide which direction we are traveling in and where, even if we get lost, if we have a map, we will know which direction we are traveling. I hope you understand.

Best-mary

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Nah. Indicators are just like a programmed mathematical and standard instrument that shows the big men in the crypto space what you're doing. Trust your strategy. Rather than I using indicators, I preferred going with the strategies provided by some exchanges like the sniper range or even going into copy-trading.

GreatArkansas

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Quote from: Xcode7 on September 19, 2023, 10:03:36 PM

Quote from: taufik123 on September 19, 2023, 09:07:58 PM

Quote from: GreatArkansas on September 19, 2023, 07:13:35 PM

In short, it is really important when you are trading.
The fact that we can trade even if we don't use any technical indicator or without analyzing at all, it's fine. But it's like you are just gambling, you don't have any basis. Because you can just easily open a trade.
I rather have a reason why I opened a trade than nothing, and technical indicators is another way for it.

Technical indicators or technical analysis are the main foundation for knowing the direction of trading.
Trading without analysis is like a blind man walking without a stick, without knowing the way and not knowing where to go.

There are even many beginners who do it just by guessing like gambling and they usually use futures trading which we know is more risky than spot trading.
It's risky enough when beginners don't know what they're doing, just wasting their money on a bad experience without any research.

Yes, that's true and even people who just guess like gambling will lose their money in trading and then say that Crypto trading is not promising, but there are also those who learn from scratch on the contrary.
Basically, in trading, technical indicators are the main thing that must be understood to help provide buy or sell signals so that the trading we do is a correct business with clear references, not just guessing.

To be honest, if you are a trader and don't use any technical indicators, I don't think you will be successful, or I am not sure if you can call yourself a trader, maybe you can call yourself as gambler, not a trader.
Agree taufik123 about trading is the main thing in trader and it is a MUST to learn.

Xcode7

sr. member

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Quote from: taufik123 on September 19, 2023, 09:07:58 PM

Quote from: GreatArkansas on September 19, 2023, 07:13:35 PM

In short, it is really important when you are trading.
The fact that we can trade even if we don't use any technical indicator or without analyzing at all, it's fine. But it's like you are just gambling, you don't have any basis. Because you can just easily open a trade.
I rather have a reason why I opened a trade than nothing, and technical indicators is another way for it.

Technical indicators or technical analysis are the main foundation for knowing the direction of trading.
Trading without analysis is like a blind man walking without a stick, without knowing the way and not knowing where to go.

There are even many beginners who do it just by guessing like gambling and they usually use futures trading which we know is more risky than spot trading.
It's risky enough when beginners don't know what they're doing, just wasting their money on a bad experience without any research.

Yes, that's true and even people who just guess like gambling will lose their money in trading and then say that Crypto trading is not promising, but there are also those who learn from scratch on the contrary.
Basically, in trading, technical indicators are the main thing that must be understood to help provide buy or sell signals so that the trading we do is a correct business with clear references, not just guessing.

taufik123

legendary

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MrStork Exchange Service

Quote from: GreatArkansas on September 19, 2023, 07:13:35 PM

In short, it is really important when you are trading.
The fact that we can trade even if we don't use any technical indicator or without analyzing at all, it's fine. But it's like you are just gambling, you don't have any basis. Because you can just easily open a trade.
I rather have a reason why I opened a trade than nothing, and technical indicators is another way for it.

Technical indicators or technical analysis are the main foundation for knowing the direction of trading.
Trading without analysis is like a blind man walking without a stick, without knowing the way and not knowing where to go.

There are even many beginners who do it just by guessing like gambling and they usually use futures trading which we know is more risky than spot trading.
It's risky enough when beginners don't know what they're doing, just wasting their money on a bad experience without any research.

heartbit.offical

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Of course, it's possible. I have been achieving an annual return of over 60% through my metrics for the past 5 years.

We must use metrics for the following reasons:
1. Data doesn't lie.
2. Forgetting the past will lead to disgrace.
3. Data is necessary for managing risks.

GreatArkansas

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Buy/Sell crypto at BestChange

Quote from: traderethereum on September 16, 2023, 03:32:35 AM

Trading indicators estimate where the price will move, but it does not guarantee accuracy because it is difficult to know the actual direction of market movements.
But with this indicator, especially if you draw a line based on movements in the previous day, week, month or year, you can find the pattern of the direction of the movement.
(....)

In short, it is really important when you are trading.
The fact that we can trade even if we don't use any technical indicator or without analyzing at all, it's fine. But it's like you are just gambling, you don't have any basis. Because you can just easily open a trade.
I rather have a reason why I opened a trade than nothing, and technical indicators is another way for it.

poodle63

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Quote from: stadus on September 16, 2023, 08:52:29 AM

If it's useless, then it shouldn't have been created.

You are in charge of your own strategy. If you believe that certain technical indicators are not necessary for your success, then they are indeed useless to you. However, take a look around and study how successful traders operate. They use technical indicators and analyze them effectively, which is why I would say they are very useful for achieving profitability.

This much is what i can agree with, technical indicators isn't entirely useless, it might really useful for knowing current circumstances that majority of coin were in, and seeing what trend is currently on a market is also one of the most essential thing.
its just I guess market are becoming more and more strange, i think most of the time right now market are straying away from the general text book about technical analsis in which it could means that we need to make some improvisation here and there considering the fact that technical analysis might not fully determine which direction market will move.
therefore I guess there gonna be differing opinion.

darewaller

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Quote from: el kaka22 on September 13, 2023, 02:34:40 PM

They are not useless, you just need to find which ones work for you the best .People think that there are indicators that could make you profit easily, but the reality is that we are talking about a situation where it will take a while to get that done, and it is not that way and it is different.

I personally believe that we are going to end up with a situation that would be different, and I hope that it can get to a point where we could make our personalized versions. One indicator could work amazing for me, but terrible for you, and meanwhile another indicator could work amazing for you and bad for me. This means that you need to find what works for you the best and you could make a good strategy based on that one.

They are useless if you don't know how to use them. Indicators are only a small part of trading, so those who think indicators alone can make them rich quick are crazy. Trading is still far from investing. Maybe you will have tons of delays to perform a trade if you are still a beginner, but don't worry because every pro traders do also start with that.

We have lots of indicators. I think this is because like you said, a few might work for some while the others won't. Trial and error is the only way to figure it out. I am not sure if we can create and add our own personalize indicator to the existing ones but even if not, we can still promote it on other place so that others can try it.

traderethereum

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Quote from: Hypnosis00 on September 16, 2023, 07:04:03 AM

Quote from: traderethereum on September 16, 2023, 03:32:35 AM

-

We often commit mistakes because of the nature of the market. Even though we have in trading for many years, mistakes still happen but it is not that bad when compared to those traders who have less experience and knowledge about using indicators.

Yes, I certainly agree that we don't need to have a lot of Technical indicators but what we need is the indicator that we think is applicable to us. By mastering it and applying it to our trade, we can also expect different results.

Making mistakes because of changes that occur in the market is normal.
That is why we must continue to improve our analytical skills by learning more about using indicators.
But we don't need to study all of these indicators, especially if we only use a few indicators that traders commonly use.
Studying these indicators until we really master them can help us to analyze where the market will move.
And it will be useful for us in following changes in movements that occur in the market.

stadus

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If it's useless, then it shouldn't have been created.

You are in charge of your own strategy. If you believe that certain technical indicators are not necessary for your success, then they are indeed useless to you. However, take a look around and study how successful traders operate. They use technical indicators and analyze them effectively, which is why I would say they are very useful for achieving profitability.

sarmrakib

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Quote from: algoBoi on September 12, 2023, 12:43:39 PM

Hi everyone.

I've examined indicators for very long time. Especially if you are trading often, they would increase your winning possibilities.

While some months i've learned how to code Pine Script on Tradingview and backtest with it. But i can't get good results even if many combination of indicators. Undecided

When i look at past data manually, it works smoothly but this data retrospective and indicators can't drawn in future.

I wonder is there anyone who succeed on trading with indicator/combination of indicator/special strategy.

I'm open to discuss all ideas.

Only technical indiactor isn’t useful to give good return on trading .We all know trading is a difficult way of earning .Crypto trading is much and more difficult than any other trading .We all know crypto is always volatile so that if you depend only on technical analysis ,it won’t help you much to get a good return .I think you should also try to learn fundamental analysis ,price action etc. If you gather everything and apply before trading the accuracy will be high to give you a positive result on trading .So that don’t depend only on technical analysis .

Hypnosis00

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Quote from: traderethereum on September 16, 2023, 03:32:35 AM

Trading indicators estimate where the price will move, but it does not guarantee accuracy because it is difficult to know the actual direction of market movements.
But with this indicator, especially if you draw a line based on movements in the previous day, week, month or year, you can find the pattern of the direction of the movement.
Usually, traders only master a few indicators in trading and master them more deeply to determine when to enter and exit the market.
I still can't determine the direction of market movement so I often experience mistakes in trading, but I think that's okay because I can still learn more.
But be careful when using indicators because we know that the current direction of market movements is not easy to predict.

We often commit mistakes because of the nature of the market. Even though we have in trading for many years, mistakes still happen but it is not that bad when compared to those traders who have less experience and knowledge about using indicators.

Yes, I certainly agree that we don't need to have a lot of Technical indicators but what we need is the indicator that we think is applicable to us. By mastering it and applying it to our trade, we can also expect different results.

Topic: Are Technical Indicators useless? - page 3. (Read 700 times)