Can I trade mostly based on technical analysis?

[Yamaguchi]

I think it's very hard to learn fundamental analysis because I just got started with Forex. Also, I need to use 1h chart because most of the day, I can't check the chart very often. Is it good idea to use 1h chart based on 90% technical analysis?

 

[forker]

Yep. Nothing wrong with that.

 

[piphoe]

I'm not a "news trader" although I like to have at least a general idea of what's going on in the world that might influence currency price, when news may come out good or bad, and stuff like that. Try to stay out around possible news release like last week.

Having said that, the unpredictable black swan is forever looming...

 

[Yamaguchi]

Thanks for your advice. Is it also okay to use technical analysis mostly for 1d chart? (daily chart)

 

[ph_trader]

yeah its ok, even if you go full technical, given that you are new to trading, you will one way or another find your way around these things and find your comfort zone.. just take it one step at a time,never rush

 

[mlawson71]

Yes, you can, as long as you keep in mind to avoid trading during high impact events, because technical analysis often goes out the window then.

 

[ffsear]

I think it's very hard to learn fundamental analysis because I just got started with Forex. Also, I need to use 1h chart because most of the day, I can't check the chart very often. Is it good idea to use 1h chart based on 90% technical analysis?

If your going to trade purely off the charts, my advice would be to trade the higher time frames, 4h and daily. and have more of a swing trading approach (assuming your not trading stocks). Don't try to day trade with charts alone.

 

[rosentray]

Have in mind that hedge fund managers and banks use daily charts and they rely on bottoms and tops. H1 is not enough and might cost you all your money.

 

[mcrlogitech]

The longer time frames like 1 H or 4H are much more promising in context of the technical analysis when compared to smaller time frames like 5 min or 15 min.

 

[SmartGeek]

Yeah...! Technical Analysis is very important for being successful trader. It is the best way to make a good fortune and to raise your chances of making profit.

 

[Fugazsy]

Yes you can but is best to keep your ears on the ground in my opinion.....

 

[Arashimuro]

For me, technical analysis is at the basis of my trade, but I also try to stay up-to-date about the latest news that's come out, because they can sometimes change the general picture, as a result everything can be correct in the technical sense, but without the basis of fundamental analysis sometimes nothing works out.

 

[SmartGeek]

Yeah Technical Analysis is a good way to look forward to the trade, it helps the trader to get a view about the Forex Market and decide accordingly to trade or not.

 

[RoiFX]

Major movement of forex trading is based on fundamental news. But between big news, market follows technical analysis. So most of the time, we need to analysis in technical basis. So we should give preference to trade with technical analysis. It work well. I like to trade with technical analysis. I am getting good result from technical analysis on live trading

 

[SmartGeek]

It is good to trade with the help of Forex Trading Technical Analysis as they have highly expert traders reviews.

 

[NVP]

TA is useful on any chart ........just mix it in with other things you like .......and experiment experiment experiment .........

 

[gerryg]

TA is really good way to find right trade for trading. But depending it for trading is not advisable, you can always use another things with it to get accurate result.

The problem in technical analysis is that you can be PhD in math and know how to build sophisticated mathematic models but if you start from WRONG preconditions (what actually requires very good logic and understanding of economic principles) then all your calculations and analysis are waste of time.
You should clearly understand WHAT you need to calculate and the second question is HOW.

 

[focusonmoney]

Yes you can.. Most people I know use TA because sometimes it is hard to predict the news.. For small traders like us we have to use whatever we can to get an edge.. Do you a lot of back testing before using a system though..

This guy use TA all the time

 

[SmartGeek]

TA is really good way to find right trade for trading. But depending it for trading is not advisable, you can always use another things with it to get accurate result.

Yeah, technical analysis, would be a nice way to analyze the market. And than you could just earn from it.

 

[victorycountry]

98% traders either lose all or don't make money because they use TA