Can "free" technical Analysis be good?

[Bill_Canada]

Hey All,

I am a small time trader (4 figure account) with good track that I will keep to myself

I focus mainly on FX and some main indices.

The broker I currently work with offers "free" technical analysis for a client like myself (nothing special really, I assume its a sales technique they use and I guess I am actually paying for this service in a certain way but don't really mind).

It's provided by Trading Central (which seem to be licensed) and seems pretty good given that I didn't have to spend a few extra dollars on this service.

What are your opinions about this service? Has anyone tested them for specific exotic crosses with better than decent results?

 

[tomorton]

Not trying to be a smart-alec Bill but TA is a book with thousands of answers. What's more important is for each of us to work out our own questions. So, you might step back and ask yourself what questions you would want your broker's TA to answer?

 

[NVP]

the word Free indicates the level of support you will receive ...........bland vanilla signals and advice that are available anywhere if you look........

N

 

[Bill_Canada]

Not trying to be a smart-alec Bill but TA is a book with thousands of answers. What's more important is for each of us to work out our own questions. So, you might step back and ask yourself what questions you would want your broker's TA to answer?

To be honest all this is new to me. I wanted more recent feedback than the older threads. I see TC is pretty popular but my question is am I missing something?? Can actual free analysis be good? Are they specifically worth my time (and money) or should I just go ahead and buy what I need, and if so, any recommendations?

 

[Bill_Canada]

the word Free indicates the level of support you will receive ...........bland vanilla signals and advice that are available anywhere if you look........

N

I mean, they do hit it on the majors from what I tested. I don't actually use the signals they give, but more a double check to my intentions. Seems though that the signals hit on a decent rate. I don't have too back to track so I don't know how consistent this is.

What are you using? Is it broker provided?

 

[timsk]

I am a small time trader (4 figure account) with good track that I will keep to myself. . .

Hi Bill from Canada,
Welcome to T2W.

There are any number of sites, bloggers and vloggers offering free TA out there - but there's usually a commercial hook somewhere. You'll see right here on T2W lots of members offer 'free' analysis. This is one of many: Trading recommendations by AzaForex. The intention behind most of them is to get you to visit their site where they'll have subscription based services or make their money from advertising etc. As to whether or not any of them are any good; beauty is in the eye of the beholder. It comes back to what Tom has said, it depends on what you need and want. That said, it strikes me you're better off without any of these people, most of whom are more likely to add doubt and confusion to your practice than they are to add certainty and clarity. I say that based on the part of your post that I've quoted. If you're doing okay by yourself making your own decisions, then stay focused on that would be my recommendation. Rinse and repeat and ignore the mountain of TA noise all around you.

If you want to interact with other traders, many of whom are just as good (if not better) at TA than the brokers and other vendors out there, then you're in the right place. Lots of T2W members offer their views on a daily basis which is useful if you want to gain an insight into how other traders (without a commercial agenda) view the markets and how they trade them. Here's a good example: Trading with p/f - although it tends to focus on equity indices more than forex.
Tim.

 

[new_trader]

To be honest all this is new to me. I wanted more recent feedback than the older threads. I see TC is pretty popular but my question is am I missing something?? Can actual free analysis be good? Are they specifically worth my time (and money) or should I just go ahead and buy what I need, and if so, any recommendations?

Technical Analysis is more art than science. As Tim said, there are many in this forum and on the rest of the world wide web who offer their Technical Analysis free and it would be just as [un]reliable as any service you would pay for. It’s almost like asking if free weather forecasters are good.

 

[NVP]

I mean, they do hit it on the majors from what I tested. I don't actually use the signals they give, but more a double check to my intentions. Seems though that the signals hit on a decent rate. I don't have too back to track so I don't know how consistent this is.

What are you using? Is it broker provided?

I use my own bespoke trading systems ....and recommend you do to Bill

N