Indicators are useful but

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!

Indicators are very important but not totally necessary. You can trade with simple price action.

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

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.

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?

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.

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

Yes, indicators are crucial to understand the patterns in which the market moves. It helps to determine the exit and entry point.

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.

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.

Imo, traders use indicators according to their requirements. There are many experienced traders who do not depend on indicators and depend on fundamentals.

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.

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.

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.

Indicators are useful, but they are not always accurate, which is why I use combinations of indicators.

Using more than one indicator is beneficial. It acts as a confirmation for the result and enhances the probability of the trade.

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.

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.

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.