can you trade forex without technical analysis?

electronicash

legendary

Activity: 3178

Merit: 1054

Quote from: unsoindovo on November 08, 2016, 10:44:20 AM

Quote from: SANALIU on October 01, 2016, 12:45:16 AM

you trading not analys only buy or sell same with gambling

iam trading forex only use news economic
and iam use indicator in MT4
1 pivot SNR (support and resistance)
2 bolinger band indicator
3 moving average
4 MACD
5 PZ harmonic

i'm interested in this indicator...
5 PZ harmonic
never heared about int...
can you explain some info on it?

i have no idea what 5 PZ harmonic is. Its getting too technical when all a day trader need is just to see clearly where the trend is going within the day. RSI, stochastic and few MAs can do exactly is needed.

unsoindovo

legendary

Activity: 1932

Merit: 1042

https://locktrip.com/?refId=40964

Quote from: SANALIU on October 01, 2016, 12:45:16 AM

you trading not analys only buy or sell same with gambling

iam trading forex only use news economic
and iam use indicator in MT4
1 pivot SNR (support and resistance)
2 bolinger band indicator
3 moving average
4 MACD
5 PZ harmonic

i'm interested in this indicator...
5 PZ harmonic
never heared about int...
can you explain some info on it?

CraigWrightBTC

hero member

Activity: 518

Merit: 500

Of course i can trade forex without analysis tecnical, but it will not be survive for long time i will be lost my money, even though i get profit it is just because of lucky and i can not make profit because i don't have signal for buy or sell.

Zadicar

legendary

Activity: 1386

Merit: 1020

DGbet.fun - Crypto Sportsbook

Quote from: Supercrypt on November 03, 2016, 12:52:42 AM

Quote from: Fredomago on November 02, 2016, 10:26:46 AM

Quote from: Zadicar on November 02, 2016, 10:17:18 AM

Quote from: yakdivine on September 30, 2016, 01:07:24 PM

Trading forex can be narrow than to two forces that drive a single vehicle. Most time after analysing the market technically and a trade is sure that market trend has hit the support or resistance level or breakout has taken place, the candlestick also has signal you to enter buy or sell then you see that the trade go against that signal due to news or fundamental issue. My question is this, can we really depend on technical analysis in trading decision?

You could actually trade forex without this technical analysis unless if you are already experienced enough regarding on price movements but still you would really need this tool on your trading career because this would surely help you out even not most of the time but its still okay to use this. Price movement is really unpredictable though because of some unexpected circumtances that may happen time to time.

having some technical knowledge will give you edge in forex trading knowing how the system works can give you good prediction and placing your order would be much easy and the sell order as well. you should have the system in order to make that good analyzation.

No, not just some knowledge, we must required a sound trading knowledge on how to do technical analysis to predict high and low prices. Without technical knowledge, trading is just a gambling, if you are lucky you may get profits but not assured. Usually Forex market has high volatile, improper knowledge on trading might lead to huge losses in very quick time itself.

It would surely lose you up huge amounts if you dont have any knowledge and proper understanding of it. Technical analysis is a tool which really could help you out and most traders do use this because before we making a trade to forex, assumptions and news are important to open up a particular order .

Yatsan

legendary

Activity: 2576

Merit: 1252

Leading Crypto Sports Betting & Casino Platform

Quote from: dunfida on October 09, 2016, 09:32:10 AM

Quote from: densuj on October 09, 2016, 04:08:34 AM

Trading forex more high risk than trading altcoins or bitcoins, because we can not hold position. Of course we can trade forex without analysis tecnical, but it will make our money lost in it. In my opinion trading forex needs analysis tecnical and fundamental for making prediction and making profit into trading forex.

Doing forex is too complex and when you trade without knowledge and technical analysis then you are just like throwing your money off. Agree forex and altcoin/bitcoin trading is different because we cant really hold positions and also forex trading do require huge amounts in able to start unlike on alts/bitcoin.

That is right. In order to trade the forex, you need to understand a lot about the currency you want to trade.

Babayega31

hero member

Activity: 630

Merit: 500

Cryptocurrency Wallet - Denaro.io

Quote from: electronicash on November 03, 2016, 01:10:13 AM

Yes you can trade on forex without technical knowledge. after all there are guides given as to when you should enter and existing can be a different thing. you may exit a position while you already are profiting or you can be so greddy that you can exit when it start to fall and your pips deducted.

ALL you need to do is enter a position in the market where obvious trend is currently going on. the most important one is that don't let your emotions control your trading pattern.

Without the use of technical analysis would result to loss of profit, thats because if you're lack of information and you don't know the movement of the forex trend it won't give you proper idea on how to handle your emotions. As a result of no proper analysis you may not able to decide the right time to buy or sell your bitcoin, what if you've invested it in wrong timing and that time you are lack of informations which may help you decide the best. If this happens don't hesitate to read forums and also ask help to those who are very experienced with trading analysis and also a forex trader is very important.

Ryananda

sr. member

Activity: 812

Merit: 250

I think there is no trading forex without the use of analysis if you want profit. Because of all trades have to use analysis to determine the price of the good. If you start trading with my analysis of the risk is very large, especially if not using the analysis techniques, it will depend only on luck.

electronicash

legendary

Activity: 3178

Merit: 1054

Yes you can trade on forex without technical knowledge. after all there are guides given as to when you should enter and existing can be a different thing. you may exit a position while you already are profiting or you can be so greddy that you can exit when it start to fall and your pips deducted.

ALL you need to do is enter a position in the market where obvious trend is currently going on. the most important one is that don't let your emotions control your trading pattern.

Supercrypt

legendary

Activity: 1554

Merit: 1054

Quote from: Fredomago on November 02, 2016, 10:26:46 AM

Quote from: Zadicar on November 02, 2016, 10:17:18 AM

Quote from: yakdivine on September 30, 2016, 01:07:24 PM

Trading forex can be narrow than to two forces that drive a single vehicle. Most time after analysing the market technically and a trade is sure that market trend has hit the support or resistance level or breakout has taken place, the candlestick also has signal you to enter buy or sell then you see that the trade go against that signal due to news or fundamental issue. My question is this, can we really depend on technical analysis in trading decision?

You could actually trade forex without this technical analysis unless if you are already experienced enough regarding on price movements but still you would really need this tool on your trading career because this would surely help you out even not most of the time but its still okay to use this. Price movement is really unpredictable though because of some unexpected circumtances that may happen time to time.

having some technical knowledge will give you edge in forex trading knowing how the system works can give you good prediction and placing your order would be much easy and the sell order as well. you should have the system in order to make that good analyzation.

No, not just some knowledge, we must required a sound trading knowledge on how to do technical analysis to predict high and low prices. Without technical knowledge, trading is just a gambling, if you are lucky you may get profits but not assured. Usually Forex market has high volatile, improper knowledge on trading might lead to huge losses in very quick time itself.

Zadicar

legendary

Activity: 1386

Merit: 1020

DGbet.fun - Crypto Sportsbook

Quote from: Fredomago on November 02, 2016, 10:26:46 AM

Quote from: Zadicar on November 02, 2016, 10:17:18 AM

Quote from: yakdivine on September 30, 2016, 01:07:24 PM

Trading forex can be narrow than to two forces that drive a single vehicle. Most time after analysing the market technically and a trade is sure that market trend has hit the support or resistance level or breakout has taken place, the candlestick also has signal you to enter buy or sell then you see that the trade go against that signal due to news or fundamental issue. My question is this, can we really depend on technical analysis in trading decision?

You could actually trade forex without this technical analysis unless if you are already experienced enough regarding on price movements but still you would really need this tool on your trading career because this would surely help you out even not most of the time but its still okay to use this. Price movement is really unpredictable though because of some unexpected circumtances that may happen time to time.

having some technical knowledge will give you edge in forex trading knowing how the system works can give you good prediction and placing your order would be much easy and the sell order as well. you should have the system in order to make that good analyzation.

You are correct thats why i wont recommend not to use this tool of having technical knowledge because you would surely needed on your trading career to increase the chance to swing together with the price and make good profits. Good analytic skills would really be a good thing.

Fredomago

legendary

Activity: 2996

Merit: 1054

Leading Crypto Sports Betting & Casino Platform

Quote from: Zadicar on November 02, 2016, 10:17:18 AM

Quote from: yakdivine on September 30, 2016, 01:07:24 PM

Trading forex can be narrow than to two forces that drive a single vehicle. Most time after analysing the market technically and a trade is sure that market trend has hit the support or resistance level or breakout has taken place, the candlestick also has signal you to enter buy or sell then you see that the trade go against that signal due to news or fundamental issue. My question is this, can we really depend on technical analysis in trading decision?

You could actually trade forex without this technical analysis unless if you are already experienced enough regarding on price movements but still you would really need this tool on your trading career because this would surely help you out even not most of the time but its still okay to use this. Price movement is really unpredictable though because of some unexpected circumtances that may happen time to time.

having some technical knowledge will give you edge in forex trading knowing how the system works can give you good prediction and placing your order would be much easy and the sell order as well. you should have the system in order to make that good analyzation.

Barbut

hero member

Activity: 1694

Merit: 502

★Bitvest.io★ Play Plinko or Invest!

If you trade without technical analyses then you literally trade on luck, or your trades are based on some who knows what feeling. Chances to make profit like that are zero, only if you are really lucky person you can have success in this kind of trading.
I tried to trade with altcoins on luck, and guess what, I lost much more then I made. My trading wasn`t successful like I thought it will be, especially I lost when I listened some possible scammers which coins to buy.

Zadicar

legendary

Activity: 1386

Merit: 1020

DGbet.fun - Crypto Sportsbook

Quote from: yakdivine on September 30, 2016, 01:07:24 PM

Trading forex can be narrow than to two forces that drive a single vehicle. Most time after analysing the market technically and a trade is sure that market trend has hit the support or resistance level or breakout has taken place, the candlestick also has signal you to enter buy or sell then you see that the trade go against that signal due to news or fundamental issue. My question is this, can we really depend on technical analysis in trading decision?

You could actually trade forex without this technical analysis unless if you are already experienced enough regarding on price movements but still you would really need this tool on your trading career because this would surely help you out even not most of the time but its still okay to use this. Price movement is really unpredictable though because of some unexpected circumtances that may happen time to time.

Hikol

member

Activity: 125

Merit: 10

I like Forex as a source of additional income. I trade with the help of my Broker from http://www.portexmarkets.com and I like it a lot. If you want to try Forex too they have a Demo account which may help. Thanks a lot for the help here and good luck!

erikalui

legendary

Activity: 2632

Merit: 1094

Quote from: dunfida on October 09, 2016, 09:32:10 AM

Quote from: densuj on October 09, 2016, 04:08:34 AM

Trading forex more high risk than trading altcoins or bitcoins, because we can not hold position. Of course we can trade forex without analysis tecnical, but it will make our money lost in it. In my opinion trading forex needs analysis tecnical and fundamental for making prediction and making profit into trading forex.

Doing forex is too complex and when you trade without knowledge and technical analysis then you are just like throwing your money off. Agree forex and altcoin/bitcoin trading is different because we cant really hold positions and also forex trading do require huge amounts in able to start unlike on alts/bitcoin.

I have been trading with forex even with a minimum amount of $3 and managed to double it within 3 days. Hence there is no amount that's high or less but without technical analysis, it's very tough to keep making profit with forex while in case of bitcoins/altcoins, we don't even have that option that can predict the price the next day. We have all to just try our luck while trading in bitcoins.

deisik

legendary

Activity: 3514

Merit: 1280

English ⬄ Russian Translation Services

Quote from: capoeira on October 09, 2016, 08:20:55 AM

Quote from: deisik on October 09, 2016, 04:02:52 AM

So riding the trend is TA too since that's how you would algorithmically determine it ("a higher low and a higher high")?

That's what I'm saying. In fact, as soon as you look at a chart you are analysing technically. You don't need a chart to see the price. There are price tickers. You open a chart to analyse, even if it is "only" to look for trends.

I see your point and even somewhat agree with it, at least, in respect to the "analyzing" part of it. Nevertheless, just looking at the price chart and following the trend, which is deduced from such a chart, is usually considered as "intuitive trading", not TA. On the other hand, some insane algorithm mimicking human reasoning and taking into account such data which otherwise would be considered belonging to human domain only should also be branded as a technical analysis of sorts...

While in fact it would operate on a more fundamental level than what is typically contemplated as "technical"

yakdivine

member

Activity: 70

Merit: 10

Quote from: densuj on October 09, 2016, 04:08:34 AM

Trading forex more high risk than trading altcoins or bitcoins, because we can not hold position. Of course we can trade forex without analysis tecnical, but it will make our money lost in it. In my opinion trading forex needs analysis tecnical and fundamental for making prediction and making profit into trading forex.

I thought, forex trading and altcoin or bitcoin are the same?. Sir, can you explain to me the different between bitcoin or altcoin trading and forex trading. From my observations it's seen to be the same.

dunfida

legendary

Activity: 3122

Merit: 1140

Quote from: densuj on October 09, 2016, 04:08:34 AM

Trading forex more high risk than trading altcoins or bitcoins, because we can not hold position. Of course we can trade forex without analysis tecnical, but it will make our money lost in it. In my opinion trading forex needs analysis tecnical and fundamental for making prediction and making profit into trading forex.

Doing forex is too complex and when you trade without knowledge and technical analysis then you are just like throwing your money off. Agree forex and altcoin/bitcoin trading is different because we cant really hold positions and also forex trading do require huge amounts in able to start unlike on alts/bitcoin.

capoeira

legendary

Activity: 2413

Merit: 1003

Quote from: deisik on October 09, 2016, 04:02:52 AM

So riding the trend is TA too since that's how you would algorithmically determine it ("a higher low and a higher high")?

That's what I'm saying. In fact, as soon as you look at a chart you are analysing technically. You don't need a chart to see the price. There are price tickers. You open a chart to analyse, even if it is "only" to look for trends.

densuj

legendary

Activity: 910

Merit: 1000

Trading forex more high risk than trading altcoins or bitcoins, because we can not hold position. Of course we can trade forex without analysis tecnical, but it will make our money lost in it. In my opinion trading forex needs analysis tecnical and fundamental for making prediction and making profit into trading forex.

deisik

legendary

Activity: 3514

Merit: 1280

English ⬄ Russian Translation Services

Quote from: capoeira on October 07, 2016, 05:44:02 AM

the bigger the timeframe, better FA becomes;
the smaller the timeframe, better TA becomes.

that is for all markets

The smaller the time frame the more noise will be in the data. And the higher the chances that some TA tool will turn out to be correct about the future price movement (broken clock). With the caveat that you should somehow pick up the right tool beforehand...

Quote from: capoeira on October 08, 2016, 02:40:24 PM

people quite don't understand that "a higher low and a higher high" is allready TA

So riding the trend is TA too since that's how you would algorithmically determine it ("a higher low and a higher high")?

South Park

hero member

Activity: 2884

Merit: 794

I am terrible at Fantasy Football!!!

The more tools and resources that you may have at your disposal the better, I think it’s possible to trade in forex without those skills but why would you want to do it? If you want to earn money then get every single skill that you can.

capoeira

legendary

Activity: 2413

Merit: 1003

people quite don't understand that "a higher low and a higher high" is allready TA

SAMKUSH

sr. member

Activity: 406

Merit: 250

I have traded forex occasionally over the past few years and have learnt although technical analysis can be useful it is definitely not something to base trades on. Any event could completely change the trend of a currency pair and technical analysis does not take this into consideration.

audaciousbeing

hero member

Activity: 1330

Merit: 569

Although, I am not a trader but the reason why I haven't started is no other than the fact of the knowledge of technical analysis which I am yet to possess in which is also applicable to Forex, at the same time I also believe that Technical analysis will not be the absolute determining factor as sometimes the issue of subjectivity will have to come in but that would be after the Technical part as been mastered.

erikalui

legendary

Activity: 2632

Merit: 1094

Technical analysis should always be a preferred option when you aren't sure about which currency pair to bid on. I tried trading with forex signals and incurred a huge loss of $40 initially but since then, I enabled the news option in my trading portal and am earning a steady profit. These analysis are quite reliable (although they don't have any assurance as it finally depends on the market stability). You can also check the graph and decide whether to play a buy or sell trade.

FilipZ

member

Activity: 80

Merit: 10

IGT-crypto - lifetime income from working exchange

any tech analysis is crap, coz it only explains past trades.

you can use your lucky coin to decide in what direction to open trade.

capoeira

legendary

Activity: 2413

Merit: 1003

the bigger the timeframe, better FA becomes;
the smaller the timeframe, better TA becomes.

that is for all markets,

now: if you like FA trading you will prefer to trade stocks since currencys are effected by a lot of factors and events

yakdivine

member

Activity: 70

Merit: 10

Quote from: el kaka22 on October 06, 2016, 05:39:24 AM

Quote from: pooya87 on October 06, 2016, 12:34:54 AM

Quote from: yakdivine on September 30, 2016, 01:07:24 PM

Trading forex can be narrow than to two forces that drive a single vehicle. Most time after analysing the market technically and a trade is sure that market trend has hit the support or resistance level or breakout has taken place, the candlestick also has signal you to enter buy or sell then you see that the trade go against that signal due to news or fundamental issue. My question is this, can we really depend on technical analysis in trading decision?

technical analysis is like a help, a help that shows you the possible way but in the real world prices are affected by many factors that you can't consider them in your technical analysis. you have to add them yourself manually.

But in my experience and observation, technical analysis will win at the end. The news and events just the triggers to make fluctuations in trading, but to predict how long a movement will last, we must need technical analysis.

In simple words, a news may affect a market to go up or down. Technical analysis will tell you how many units of movement that news may produce.

you have said it all from my experience and following trade history in meta trade4 I have observed that market fluctuate based on news and other important fundamental analysis. However, the market will always reconciled to technical analysis formation.

noictib

hero member

Activity: 966

Merit: 515

One of the world's leading Bitcoin-powered casinos

Quote from: yakdivine on September 30, 2016, 01:07:24 PM

Trading forex can be narrow than to two forces that drive a single vehicle. Most time after analysing the market technically and a trade is sure that market trend has hit the support or resistance level or breakout has taken place, the candlestick also has signal you to enter buy or sell then you see that the trade go against that signal due to news or fundamental issue. My question is this, can we really depend on technical analysis in trading decision?

i think it is foolness of that person who start trade with forex without experience about rate technique . because i was the one of the fool and fail trader because of only experience . so i think we should take some experience before to trade for anything .

el kaka22

legendary

Activity: 3654

Merit: 1165

www.Crypto.Games: Multiple coins, multiple games

Quote from: pooya87 on October 06, 2016, 12:34:54 AM

Quote from: yakdivine on September 30, 2016, 01:07:24 PM

Trading forex can be narrow than to two forces that drive a single vehicle. Most time after analysing the market technically and a trade is sure that market trend has hit the support or resistance level or breakout has taken place, the candlestick also has signal you to enter buy or sell then you see that the trade go against that signal due to news or fundamental issue. My question is this, can we really depend on technical analysis in trading decision?

technical analysis is like a help, a help that shows you the possible way but in the real world prices are affected by many factors that you can't consider them in your technical analysis. you have to add them yourself manually.

But in my experience and observation, technical analysis will win at the end. The news and events just the triggers to make fluctuations in trading, but to predict how long a movement will last, we must need technical analysis.

In simple words, a news may affect a market to go up or down. Technical analysis will tell you how many units of movement that news may produce.

pooya87

legendary

Activity: 3472

Merit: 10611

Quote from: yakdivine on September 30, 2016, 01:07:24 PM

Trading forex can be narrow than to two forces that drive a single vehicle. Most time after analysing the market technically and a trade is sure that market trend has hit the support or resistance level or breakout has taken place, the candlestick also has signal you to enter buy or sell then you see that the trade go against that signal due to news or fundamental issue. My question is this, can we really depend on technical analysis in trading decision?

technical analysis is like a help, a help that shows you the possible way but in the real world prices are affected by many factors that you can't consider them in your technical analysis. you have to add them yourself manually.

TheSnow

member

Activity: 70

Merit: 10

Quote from: TraderETH on October 05, 2016, 10:34:31 AM

I think i can do it, but it will not survive for long time my money will be lost for short time without analysis tecnical because it is mean i just trade just with my lucky, and i think it is like play dice gambling because of depend on my lucky.

Ya just like you said,if we trade in forex without doing analysis first,we will just trading in randrom,it just like playing dice.Why not just we play dice if we don wan to make analysis first ? The one advantage of forex trading is we can make analysis for predicting the next price movement.Even the analysis is not 100% accurate,but still,we can increase the chance.

icecube45

legendary

Activity: 1218

Merit: 1000

Analysis of the trade is very important in my opinion. If we use trade without analysis is very risky and difficult to make a profit, though it can but rely on luck. The analysis must be done properly so that we can expect fruitful and profitable.

socks435

legendary

Activity: 2058

Merit: 1030

I'm looking for free spin.

Quote from: TraderETH on October 05, 2016, 10:34:31 AM

I think i can do it, but it will not survive for long time my money will be lost for short time without analysis tecnical because it is mean i just trade just with my lucky, and i think it is like play dice gambling because of depend on my lucky.

Honestly never tried to trade in forex but as i heard to someone out side in this forum its not easy to trade there..
Better to trade here or even in yobit its more easy to trade if you choose altcoin there is fast movement..

yakdivine

member

Activity: 70

Merit: 10

Forex or currency trading is a good business or profession, if and only if we can remove emotions and trade with gut. From my experience I can testify that, just single technical indicator is enough for you to make $100 of thousands from the market but emotion is the problem. I have test Fibonacci, trend line and boligoband work most times perfectly in analyzing the market but just this problem called emotion!. How can we arrest this enemy of our trade call emotion? How can we remove emotion from my trade o God.

TraderETH

full member

Activity: 210

Merit: 100

I think i can do it, but it will not survive for long time my money will be lost for short time without analysis tecnical because it is mean i just trade just with my lucky, and i think it is like play dice gambling because of depend on my lucky.

deisik

legendary

Activity: 3514

Merit: 1280

English ⬄ Russian Translation Services

Quote from: harizen on October 05, 2016, 10:15:01 AM

Literally yes if we will answer directly the question in yes or no.

But for those people who doesn't take care about analyzation, then try doing forex trading with or without technical analyzation and sees what will be the output. Compare them

I tried it for real with my own hard-earned money, though not "forex" trading, but currency futures using a custom-built trading bot, i.e. used pure emotionless TA if you please. All I can add to what I said earlier about TA boils down to stating that I would have gotten better results if I had just bought and waited until the price rose above my entry point and then closed my position (a simple one-way "buy low sell high" strategy)...

Besides, I'm also singularly curious how many peeps who commented here are actually "trading forex"

elyas772

hero member

Activity: 756

Merit: 502

i can do it, when i read a good news, im not interesting to re-watch the chart, just buy it and waiting the pump Roll Eyes

because good news is good for start pump it.

harizen

legendary

Activity: 3122

Merit: 1398

For support ➡️ help.bc.game

Literally yes if we will answer directly the question in yes or no.

But for those people who doesn't take care about analyzation, then try doing forex trading with or without technical analyzation and sees what will be the output. Compare them.

No assurance that we will always win out of out our technical analysis but for reference purposes it's a must since it will decide our future moves.

ethereumhunter

hero member

Activity: 2912

Merit: 541

Leading Crypto Sports Betting & Casino Platform

i think i can still trade forex without technical analysis and i hope i can still make profit although i never trying to trade forex directly, but after i take a look on my friends computer about forex, i think its still the same as trading bitcoin but for me i think its really complicated and makes me confusing.

iqlimasyadiqa

legendary

Activity: 1596

Merit: 1011

of course not . we should conduct an analysis to get the desired results.
if we are just hoping to luck then we will suffer losses and regrets.

Viyamore

hero member

Activity: 658

Merit: 500

No, if i based my answer on the tittle but when you said that we will depend only on our technical analysis on trading no ,it has something not only technical analysis .Forex trading have a big difference when it comes to trading and it is a little bit harder to trade because only one click you may earn or loss it all .

talkbitcoin

legendary

Activity: 1372

Merit: 1032

All I know is that I know nothing.

the best answer that i can come up with based on my little experience in the field is:
trading Forex without technical analysis is like driving a car with a flat tire!
it is possible but you will be slow and controlling the movement is hard.

the same thing is true about trading Forex or even trading in general. if you don't know anything about technical analysis you can still make some trades based on your "feeling of the market" but that is far from success.

arseaboy

hero member

Activity: 644

Merit: 500

Quote from: davis196 on October 05, 2016, 07:11:47 AM

Quote from: yakdivine on September 30, 2016, 01:07:24 PM

Trading forex can be narrow than to two forces that drive a single vehicle. Most time after analysing the market technically and a trade is sure that market trend has hit the support or resistance level or breakout has taken place, the candlestick also has signal you to enter buy or sell then you see that the trade go against that signal due to news or fundamental issue. My question is this, can we really depend on technical analysis in trading decision?

Technical analysis is important,but you need something more in order to be

a good trader.

We depend on technical analysis and a few other important factors plus luck.

thats right we need to be fully equiped since we are dealing with a high risk investment anytime we can lose our money if we make a wrong moves or assessment but if lucks permitted us we will earn a lot.

davis196

hero member

Activity: 3150

Merit: 937

Quote from: yakdivine on September 30, 2016, 01:07:24 PM

Trading forex can be narrow than to two forces that drive a single vehicle. Most time after analysing the market technically and a trade is sure that market trend has hit the support or resistance level or breakout has taken place, the candlestick also has signal you to enter buy or sell then you see that the trade go against that signal due to news or fundamental issue. My question is this, can we really depend on technical analysis in trading decision?

Technical analysis is important,but you need something more in order to be

a good trader.

We depend on technical analysis and a few other important factors plus luck.

exscudo

sr. member

Activity: 668

Merit: 257

Nextgen Financial Ecosystem

What sources would you use to learn the fundamentals of TA? Those materials offered by forex itself, like presentations, videos and the like? What books would you read on TA?

bamboylee

hero member

Activity: 1148

Merit: 504

Quote from: bitbunnny on October 04, 2016, 01:08:11 PM

To my opinion Forex is very risky platform to trade. Techincal analysis, lots of knowledge and experience is neccesary but still this is not guarantee for success. And don't forget the luck too, like in gambling. I'm not one of them but lot of people I know have lost a lot of money despite all above mentioned. So, good luck.

Yeah, Forex trading can be really hard and can make you lose a lot of money. But I am hearing many good things coming from forex trading. Maybe if you study hard enough, practice hard enough and develop your own system that work in forex, then you can be successful too and make lots of money from it.

bitbunnny

legendary

Activity: 2912

Merit: 1068

WOLF.BET - Provably Fair Crypto Casino

To my opinion Forex is very risky platform to trade. Techincal analysis, lots of knowledge and experience is neccesary but still this is not guarantee for success. And don't forget the luck too, like in gambling. I'm not one of them but lot of people I know have lost a lot of money despite all above mentioned. So, good luck.

~Bitcoin~

legendary

Activity: 994

Merit: 1000

Forex trading is really a unpredicted market however there are several technical tools from which some elite traders are being able to pull profit out of these unpredictable markets. Without technical analysis, forex trading will be just like gambling with odds of profit is almost equal to odd of loss. I think we can trade without technical analysis but odds of profit will be higher if you also have some knowledge of technical analysis.

serjent05

legendary

Activity: 3010

Merit: 1280

Get $2100 deposit bonuses & 60 FS

I think everyone can trade forex as soon as they have access and fund for it. But you cannot assure if you will exit with profit or lose it all since what you have done is some guessing stuff on which will appreciate or depreciate. Technical analysis and technical indicator are use to determine or forcast the next trend of certain market so you can trade efficiently .

yakdivine

member

Activity: 70

Merit: 10

Forex or any other trading, is either trending, ranging or in channel at a time. If the market is trend up that is buying it mean those that are buying are more than those selling and vise versa. When buying equal selling it mean the market is at equilibrium. When the market is at equilibrium, that is were big trader and hangers make trading decision based on what happened at this point. Most at times the market, would start trending at this point or channels or even ranging. Breakouts occurs when the strong support or resistance are break at this point is were professional trader make money and the newbie gambling.

exscudo

sr. member

Activity: 668

Merit: 257

Nextgen Financial Ecosystem

So I am going to ask you in this topic, thinking it is appropriate place: are the TA instruments for btc and altcoins the same as for forex trading? Mb there are differences? What do you use/think?

arousedrhino

sr. member

Activity: 347

Merit: 250

I have always thought that trading in it's self was based on luck and trading with forex even more so.
Because as we all know things in life are not set out for us, we all have to put faith in our decisions and just hope it was the right one we made.
It is not any different with trading.

spofas

sr. member

Activity: 261

Merit: 255

Quote from: yakdivine on September 30, 2016, 01:07:24 PM

Trading forex can be narrow than to two forces that drive a single vehicle. Most time after analysing the market technically and a trade is sure that market trend has hit the support or resistance level or breakout has taken place, the candlestick also has signal you to enter buy or sell then you see that the trade go against that signal due to news or fundamental issue. My question is this, can we really depend on technical analysis in trading decision?

FX algos are designed to put retail traders in the dumpster.
But to answer your question: TA is still the best chance to succeed in fx. If you do ok with your analysis (ie, being right >30% of the time) and have propper bankroll management, you'll do fine.

Skarner21

hero member

Activity: 700

Merit: 500

Massive price drop coming...

Quote from: wintermeasures on October 04, 2016, 05:16:40 AM

Quote from: yakdivine on September 30, 2016, 01:07:24 PM

Trading forex can be narrow than to two forces that drive a single vehicle. Most time after analysing the market technically and a trade is sure that market trend has hit the support or resistance level or breakout has taken place, the candlestick also has signal you to enter buy or sell then you see that the trade go against that signal due to news or fundamental issue. My question is this, can we really depend on technical analysis in trading decision?

According To Me Its Impossible To Do Forex Trading Without Technical Analysis Because If You Don't Have The Knowledge Of Analysis Then You Can Lose Your All Funds In A Second......

Yeah same here and i think you need a large capital there before you can get start to trade there ..it is hard to make profit there but you can get some tips from other traders that already analyze the fluctuate.
Also you need some luck too to have a good profit.. i heard many people are lose there but many people are successful. maybe it is always depends in your analysis.

redsun114

hero member

Activity: 2730

Merit: 585

Leading Crypto Sports Betting & Casino Platform

Not just Forex trading, any trading without technical analysis will be just a gambling.

I will be able to trade Forex without technical analysis but making profit is highly similar to making profits with gambling. Technical analysis the only point trading differs from gambling.

wintermeasures

sr. member

Activity: 322

Merit: 250

Quote from: yakdivine on September 30, 2016, 01:07:24 PM

Trading forex can be narrow than to two forces that drive a single vehicle. Most time after analysing the market technically and a trade is sure that market trend has hit the support or resistance level or breakout has taken place, the candlestick also has signal you to enter buy or sell then you see that the trade go against that signal due to news or fundamental issue. My question is this, can we really depend on technical analysis in trading decision?

According To Me Its Impossible To Do Forex Trading Without Technical Analysis Because If You Don't Have The Knowledge Of Analysis Then You Can Lose Your All Funds In A Second......

deisik

legendary

Activity: 3514

Merit: 1280

English ⬄ Russian Translation Services

Quote from: angaper on October 02, 2016, 01:52:50 PM

I have always thought that technical analysis is a pseudo science without objective foundations, based on mere subjective considerations. I have achieved a consistent profitability in forex for a couple of years without technical analysis or any other indicator, using only a proper calculation based exclusively on a proper Money management.

In retrospect, you can always find some pattern in the price behavior and apply a particular set of TA tools that would earn you profits if it had been used over that time span, while other tools would fail miserably. Essentially, this is not very different from finding out at which time exactly the broken clock is right twice a day. The problem is each time (or period of time) you will be presented with a new broken clock, so the discovered pattern doesn't in the least guarantee profits in the future...

The main issue with TA is that it has many tools to describe historical price data, but they are mostly useless for predicting future price moves

Strongkored

legendary

Activity: 2814

Merit: 1112

Leading Crypto Sports Betting & Casino Platform

I've been trading forex using trial account only, and the results were disappointing, according to my experience with forex trading must use the technical analysis because it will affect the results, and also read about the situation, but i will never try forex trading again even just trial account is more easy altcoin trading

JeffBrad12

hero member

Activity: 2954

Merit: 533

Leading Crypto Sports Betting & Casino Platform

Quote from: nejibens on October 03, 2016, 04:56:06 PM

No, it's not possible to trade Forex without technical analysis, because you risk losing your money and its just like gambling this way.

the technical analysis just an additional factor in trading forex... but just depending on the basic knowledge of trading... so with or not the technical analysis it's still like a gamble... the people just using a technical analysis for take a decision but just giving a little contribution for their decission...

andyste

full member

Activity: 154

Merit: 100

succes trading forex must analys technical and fundamental
fundamental you must see and read about calender economic
cash bank rate, NFP and more
management money and risk must caluclate , always stop lost, without stop loost this ok but you must capital money enough over 2000pips or or over 20.000 point, without stop lost under 2000 pips is very danger

nejibens

hero member

Activity: 672

Merit: 500

No, it's not possible to trade Forex without technical analysis, because you risk losing your money and its just like gambling this way.

Hellacopter

hero member

Activity: 742

Merit: 500

I think it's pretty impossible to trade Forex or even altcoins without technical analysis, and without studying carefully the market and the chart . Trading need some knowledge because it's risky domain

newcoins1978

sr. member

Activity: 406

Merit: 250

I don't think you can successful investing and trade with forex if you don't use analysis. Because without it you are pretty much gambling. Especially with CFD"s your risk is too large and with that you risk your capital. Never do that.

justdimin

hero member

Activity: 3164

Merit: 675

www.Crypto.Games: Multiple coins, multiple games

For Forex trading, technical analysis are less significant compared to predicting the impacts of news and events. I do see huge volatile on Forex trading on news hours. Making use of news by having depth interpretation is more important to make profits from Forex trading.

angaper

hero member

Activity: 966

Merit: 507

I have always thought that technical analysis is a pseudo science without objective foundations, based on mere subjective considerations. I have achieved a consistent profitability in forex for a couple of years without technical analysis or any other indicator, using only a proper calculation based exclusively on a proper Money management.

deisik

legendary

Activity: 3514

Merit: 1280

English ⬄ Russian Translation Services

Quote from: yakdivine on September 30, 2016, 01:07:24 PM

Trading forex can be narrow than to two forces that drive a single vehicle. Most time after analysing the market technically and a trade is sure that market trend has hit the support or resistance level or breakout has taken place, the candlestick also has signal you to enter buy or sell then you see that the trade go against that signal due to news or fundamental issue. My question is this, can we really depend on technical analysis in trading decision?

In the long run it doesn't matter if you trade forex with or without technical analysis, since you are still equally doomed to fail in the long run. I have tick data for all major currencies (and gold too) for a time span of a few years, and I back-tested different trading strategies advertised as profitable by allegedly reputable traders and self-proclaimed gurus of trading using the smallest possible increments of price changes (from smaller changes to bigger ones). More specifically, I tested the EUR-USD pair as being the most liquid out there...

Nothing works, the price movements are totally random and chaotic

Red-Apple

hero member

Activity: 1470

Merit: 655

yes you can but that is not really going to be a trading, it is going to be something like a lot of users around here are doing with altcoins. it is more like a gamble than a trade. although you can add some of your experience based analysis of the market and even be successful to some point but it is better to learn it.

Dudeperfect

hero member

Activity: 1190

Merit: 534

Yes, we can choose either technical or fundamental analysis, It won’t get much affected if we are skipping one of it. You can either choose technical or fundamental and go with the results. Even though I haven’t tried my hands in forex trading, I have more faith on fundamental analysis in trading stocks or even in cryptocurrencies. I usually rely on my own research which is based on fundamental analysis and I haven’t had any problem so far.

gkv9

legendary

Activity: 1246

Merit: 1000

!!! RiSe aBovE ThE StoRm !!!

You can trade forex without technical analysis as you might have heard about Naked Price Action where you don't need to analyze the charts with the indicators and you need to guess the price based on what your mind says will happen to it... It has sometimes proven to be a profitable way of trading for me instead of adding so many indicators and waiting for it to say that this is the right time to trade, when the opportunity is already gone...

BitcoinHodler

hero member

Activity: 1456

Merit: 579

HODLing is an art, not just a word...

Quote from: yakdivine on September 30, 2016, 01:07:24 PM

Trading forex can be narrow than to two forces that drive a single vehicle. Most time after analysing the market technically and a trade is sure that market trend has hit the support or resistance level or breakout has taken place, the candlestick also has signal you to enter buy or sell then you see that the trade go against that signal due to news or fundamental issue. My question is this, can we really depend on technical analysis in trading decision?

i think the right answer to your question would be No. of course you can technically trade without any knowledge and with just your gut and the information you get from elsewhere. but that is not the right way of doing it.

also technical analysis is not useful on its own either. so you can't expect to know TA and be a successful trader there are a lot of news and other experiences that help you become successful.

forextoBTC

newbie

Activity: 42

Merit: 0

Quote from: yakdivine on September 30, 2016, 01:07:24 PM

Trading forex can be narrow than to two forces that drive a single vehicle. Most time after analysing the market technically and a trade is sure that market trend has hit the support or resistance level or breakout has taken place, the candlestick also has signal you to enter buy or sell then you see that the trade go against that signal due to news or fundamental issue. My question is this, can we really depend on technical analysis in trading decision?

Technical analysis + proper money management = Yes

Fundamental analysis + proper money management = Yes

Fundamental + Technical analysis = No

Common link for the 'Yes', money management.

If a person were to trade 15 mins before NFP based on daily/lower Time frame analysis, trade went the other way and hit your SL. Then it will look like technical analysis didn't work. But keep in mind that if your money management is proper, you will see that the technicals now point the other way take your trade and hopefully be in the green.

Its all about probablility and how much to risk on each trade. The 9 out of 10 profitable trades is over what sample size?

Cheers

shield132

hero member

Activity: 2352

Merit: 905

Metawin.com - Truly the best casino ever

I would say that technical analysis is one of the most important skill of trader, if you want to earn money and some profit with trading and stock exchanges, you must try your best to analyze what will happen in future and if you try to trade without any type of analyzes and your bet won't be demand on anything what is happening in trading, than I think your trading won't give you some profit, there will be only lost but maybe if you have great luck, than who knows what will happen. At first when Norwegian student brought bitcoin, he didn't know what would happen in future but he earned huge money.

yakdivine

member

Activity: 70

Merit: 10

Quote from: SANALIU on October 01, 2016, 12:45:16 AM

you trading not analys only buy or sell same with gambling

iam trading forex only use news economic
and iam use indicator in MT4
1 pivot SNR (support and resistance)
2 bolinger band indicator
3 moving average
4 MACD
5 PZ harmonic

I have been in forex trading since 2008. My observation is that there are two major force that drive the forex market, most time technically we can see the direction of the trend and because of this we make trading decision. But fundamentally the market is neutral and before the trader realized the direction of the market has change against the trader position just because of news from the country of the currency pair. In my opinion if you what to be successful trader try to be skills in both technical and fundamental analysis, good money management principle, know how to set stop loss and take profit and above all trading is a business and not gambling so treat it as so.

SANALIU

full member

Activity: 126

Merit: 100

you trading not analys only buy or sell same with gambling

iam trading forex only use news economic
and iam use indicator in MT4
1 pivot SNR (support and resistance)
2 bolinger band indicator
3 moving average
4 MACD
5 PZ harmonic

Bitcoinsummoner

hero member

Activity: 1456

Merit: 624

Maintain Social Distance, Stay safe.

You can do it without technical analysis in forex but it can be hardly to make you a good profit if you dont study and analyze it..
I am not a fortune teller but its just like coin flip if you can make a good profit or not.

tmfp

legendary

Activity: 1932

Merit: 1737

"Common rogue from Russia with a bare ass."

Of course you can trade anything without technical analysis, just press the buttons randomly....

http://www.marketwatch.com/story/how-hedge-fund-geniuses-got-beaten-by-monkeys-again-2015-06-25

Seriously tho, TA has a money management value as well as providing entry points for trades.
The problem I have with "fundamental" analysis trading is how to ascribe a % move value to a specific piece of news or data.

mariodm

newbie

Activity: 15

Merit: 0

Technical analysis is just one of the tools of the trader.

Its not accurate to say one can "depend" on it (or not).

As you say, the market can change its trend because of an event that can push the price up or down.

Also, when making a specific trade one needs to know what is the time frame one is acting on, and having that in mind, how much would news or other factors impact in our analysis for that time frame.

yakdivine

member

Activity: 70

Merit: 10

Trading forex can be narrow than to two forces that drive a single vehicle. Most time after analysing the market technically and a trade is sure that market trend has hit the support or resistance level or breakout has taken place, the candlestick also has signal you to enter buy or sell then you see that the trade go against that signal due to news or fundamental issue. My question is this, can we really depend on technical analysis in trading decision?

Topic: can you trade forex without technical analysis? (Read 3498 times)