Indicators are useless

Aug 30, 2021 at 07:07
1,361 Views
28 Replies
Member Since Mar 15, 2021   3 posts
Aug 30, 2021 at 07:07
No more indicators. They don' work.

Now, just looking at 'cycle' waves that are up/down.

$4 to $100 goal.
Member Since Mar 17, 2021   536 posts
Aug 30, 2021 at 08:38
Nutty32 posted:
No more indicators. They don' work.

Now, just looking at 'cycle' waves that are up/down.

$4 to $100 goal.
Yes. Most of the indicators are useless.
Member Since Mar 15, 2021   3 posts
Aug 30, 2021 at 08:57
SteveHanks posted:
Nutty32 posted:
No more indicators. They don' work.

Yes. Most of the indicators are useless.

It used to be that Elliot Waves were real popular. Now it seems most have abandoned that also.
Member Since Jul 19, 2020   788 posts
Aug 31, 2021 at 01:25
I do very little work with indicators. The indicator provides a much slower signal. I work with price action.
Member Since Jul 20, 2020   399 posts
Aug 31, 2021 at 06:53
Indicators are lagging for the most part and that means the edge you get from the diminishes sharply. It is hard to gauge in different market conditions too what some may do
Member Since Dec 18, 2019   20 posts
Aug 31, 2021 at 18:05
Indicators are useless if you don't know how to use them. Surely, you shouldn't ground your decisions on the indicators solely. They should be only a part of your strategy.
Member Since Jun 14, 2021   28 posts
Sep 01, 2021 at 07:21
@AliaDare I also like to work with the price action. These, I feel, are the least lagging among the bunch of other trading tools.
Member Since Jun 12, 2021   132 posts
Sep 01, 2021 at 08:43
sometimes most of the indicators works to fail because there is no one who can predict the real faction of this market with certainly and there is nothing 100%.
Member Since Sep 01, 2021   9 posts
Sep 01, 2021 at 11:27
I like ATR that is a good indicator. Not to make trading decisions but to stop you going into markets that are 'dead'
Member Since Jul 02, 2020   21 posts
Sep 01, 2021 at 12:01
Do NOT use indicators to predict price movement, but use all indicators you find useful to understand/see things more clearly and to confirm your BIAS of movement.
Then look for price action signals to determine entry positions and there you go!
Member Since Mar 15, 2019   82 posts
Sep 02, 2021 at 05:40
I disagree, they are very useful tools. However, don't rely on one alone and use in conjunction with risk management.
It's about the wins outweighing the losses!
All or nothing
Member Since Dec 09, 2013   139 posts
Sep 02, 2021 at 06:34
Nutty32 posted:
No more indicators. They don' work.

Now, just looking at 'cycle' waves that are up/down.

$4 to $100 goal.
I have stopped using indicator since 2017. I only use Price Action, Candle Stick pattern, Fibonacci retracement. I agree on the note that indicators do not work in the Forex market. Some traders may know how to make them work. However, I could not find out how to make them work for me though.
Member Since Jun 16, 2020   57 posts
Sep 03, 2021 at 06:26
I don't know why most of the traders rely on indicators, they are utterly useless especially when it comes to determining the price movement. It's been almost a year since i haven't been using them and solely relying on price action.
Member Since Jul 19, 2020   788 posts
Sep 04, 2021 at 01:21
necolesilvers posted:
@AliaDare I also like to work with the price action. These, I feel, are the least lagging among the bunch of other trading tools.
Price action and patience is a very important issue in trading.
Member Since Jul 19, 2020   751 posts
Sep 04, 2021 at 05:56
@Tradextol People depend on indicators because that's how they been taught forex trading. They do not try to do anything new to improve their skills.
Member Since Jun 14, 2021   28 posts
Sep 06, 2021 at 10:27
Indicators are not completely useless, they can really help you in making the right trading decision. I think in trading, it all boils down to the fact that everyone has their own preferences. Some find one tool easy to use and others find some other tool easy. It is much about how well you use a tool rather than how useful a tool is.
Member Since Jul 19, 2020   751 posts
Sep 06, 2021 at 11:12
Indicators are not completely useless
 It can be helpful if we can set the parameters properly. Default parameters do not work all the time.
Member Since Apr 03, 2021   470 posts
Sep 12, 2021 at 23:35
There is so many indicators in forex business, its created by a different expert, so each indicator has own advantage and disadvantage this is not useless creation, because help some traders to make decision trading, but indeed not all indicator are good, there are indicator repaint and no repaint, repaint indicator look perfect in history, but in real trading, sometimes giving a false signal.
Member Since Mar 28, 2021   617 posts
Nov 05, 2021 at 11:47
Indicators have lag but not fully useless if we know how a particular indicator works and all of it's parameter. Usually people use default parameters. But default settings always don't work.
Member Since Jul 19, 2020   751 posts
Nov 05, 2021 at 12:32
@Akasuki Yes, I agree with you that indicators have lag. A trader should learn more than just default settings of an indicator. Only default settings do not work always.
Sign In / Sign Up to comment
You must be connected to Myfxbook in order to leave a comment
*Commercial use and spam will not be tolerated, and may result in account termination.
Tip: Posting an image/youtube url will automatically embed it in your post!
Tip: Type the @ sign to auto complete a username participating in this discussion.