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Indicators are useful but

Dec 17, 2020 at 08:13
2,882 Views
64 Replies
Member Since Aug 11, 2019   21 posts
May 25, 2022 at 16:14
indicators are useless =)

imho, many traders who I communicated stated that indicators are useless just because the msot part of them doesn't help you to detect the best entry points or exit points, they help you to watch for the graphic and as msimum - analyse it.

however, the rate of success in strategies which are based on the indicators like sma or ma is so small, that it's better to stay off the idea trading with them. i used them once and i fount out that it's better to pay attention to bollinger bands and build the strategy around the volumes and analyse volumes. trade volumes are much more helpful as they can hint you where to wait for the breakthrough in case the price have already come to the level of support or resistance.

use, analyse and gain profits!
Member Since Aug 10, 2021   177 posts
May 26, 2022 at 00:32
Indicators are very important but not totally necessary. You can trade with simple price action.
Member Since Jul 20, 2020   399 posts
May 26, 2022 at 15:14
I think they are useful in some circumstances but structure and price action really are king. It is no use following an overbought signal from an RSI if the trend is predominantly against your trade
Member Since May 13, 2022   22 posts
May 30, 2022 at 08:54
Williamfreed posted:
Indicators are very important but not totally necessary. You can trade with simple price action.
I agree with you. I think traders are slowly starting to get overly dependent on their indicators, when really, you can trade without them.
Member Since Oct 20, 2018   300 posts
May 30, 2022 at 20:18
Teutomania posted:
Williamfreed posted:
Indicators are very important but not totally necessary. You can trade with simple price action.
I agree with you. I think traders are slowly starting to get overly dependent on their indicators, when really, you can trade without them.
Without any?
momchil_slavov@
Member Since May 18, 2022   24 posts
May 31, 2022 at 10:44
I seem to get you. I mean the direction where you are taking your talk, and I agree with you. Indicators are quite useful, but too much dependency on them is not good either.
Member Since Apr 09, 2019   538 posts
May 31, 2022 at 13:34
I don't use any indicators but that works for me. Others do and it works for them. Ultimately use (or don't) whatever gives your strategy an edge
If you can't spot the liquidity then you are the liquidity.
Member Since May 24, 2022   28 posts
Jun 03, 2022 at 11:46
Yes, indicators are crucial to understand the patterns in which the market moves. It helps to determine the exit and entry point.
Member Since Oct 22, 2021   11 posts
Jun 03, 2022 at 15:46
As for me, you should always look at the whole market first. And then you can see at the certain chart. And only then use indicators which needed.
Member Since May 30, 2022   27 posts
Jun 06, 2022 at 09:30
Indicators are definitely useful. But they are optional. There are several indicators that are lagging, and cannot predict future price moves. That does not make them any less useful, however. There are many who find them useful and there are many who don’t. It totally depends on the trader.
Member Since Jun 02, 2022   23 posts
Jun 14, 2022 at 10:33
Imo, traders use indicators according to their requirements. There are many experienced traders who do not depend on indicators and depend on fundamentals.
Member Since Apr 14, 2022   32 posts
Jun 16, 2022 at 06:11
Everything, after all, has its own significance. I believe we should develop a technique that incorporates charts. Simply analyzing charts without indicators may cause your strategy to fail and result in a significant loss.
Member Since Jun 02, 2022   24 posts
Jun 20, 2022 at 10:47
It’s better to end the debate whether charts are more useful or indicators, or anything else like signals.
No one technical analysis tool is 100 reliable alone. You have to take in account the information provided by other tools. Even if you are primarily following indicators, there is no harm in that, just remember to double check with price actions, and also fundamental analysis. Do not miss out on anything, better to be safe than sorry.
Member Since Jun 03, 2022   17 posts
Jun 20, 2022 at 11:21
Indicators are useful, but they are not so reliable that you can rely entirely on them. It is recommended for a healthy trading career to gain extensive knowledge and apply your expertise to achieve your trading objectives.
Member Since Jun 02, 2022   32 posts
Jun 24, 2022 at 05:01
Indicators are useful, but they are not always accurate, which is why I use combinations of indicators.
Member Since Jan 10, 2022   40 posts
Jun 30, 2022 at 07:40
Using more than one indicator is beneficial. It acts as a confirmation for the result and enhances the probability of the trade.
Member Since Aug 05, 2021   401 posts
Jul 03, 2022 at 12:20
I think indicators are useful but you shouldn't 100% rely on them to get rich. It takes a lot more than just finding successful indicators.
Member Since Aug 04, 2020   1 posts
Jul 03, 2022 at 12:54 (edited Jul 03, 2022 at 13:03)
Indicators are only useful to determine the current market state. They should not be used to determine a future state on their own. The key to being profitable is knowing whether the market is heading in a trending market or a range market. Indicators only tell you if the market is CURRENTLY trending, not if it is heading into a trend or range.

Trust me, i'm a software engineer. I've written scripts to determine probabilities that for example when a head and shoulders pattern forms for example, how often will the market move in one direction. It is also 50% one way, 50% the other meaning it's just noise and has no bias. (no edge).

I have a script running right now on my pc that I have been running for a week now. It's looking for candle stick patterns and the probabilities the market will move in a particular way after the combination of candle stick pattern happens. I find some things that show there is a bias, but guess what, as soon as you put that on an account even though it had an edge over 10 years of data, it stops doing that edge.
Member Since Mar 24, 2022   56 posts
Jul 07, 2022 at 04:22
The indicators are useful in trading but not the overall game in forex trading. In the end, the market is what it is. The indicators are just tools to help you understand what is going on in the market and make better decisions.
Member Since Jul 20, 2020   399 posts
Jul 15, 2022 at 15:26
Indicators can be good but they are lagging price action so if you understand price action you can understand what's happening before the indicator is needed
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