Indicators are useless

No more indicators. They don' work.

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

$4 to $100 goal.

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.

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.

I do very little work with indicators. The indicator provides a much slower signal. I work with price action.

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

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.

@AliaDare I also like to work with the price action. These, I feel, are the least lagging among the bunch of other trading tools.

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%.

I like ATR that is a good indicator. Not to make trading decisions but to stop you going into markets that are 'dead'

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!

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!

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.

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.

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.

@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.

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.

Indicators are not completely useless
 It can be helpful if we can set the parameters properly. Default parameters do not work all the time.

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.

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.