No, it was not last, but nearly last... I was happy to save a bit more then $100 bucks :clap:
No, it was not last, but nearly last... I was happy to save a bit more then $100 bucks :clap:
Not a forex trader. I only trade stocks, because it's easy and has the fewest risks.
People tend to believe they can use a small amount of money to make a fortune, and this is how forex brokers use to lure customers. However, it's quite impossible simply due to the nature of price movements in Forex: price changes 0.0001 per trade, therefore it's abnormal that you would make more than 2% a day even if you kept trading and winning all that day.
I'm not sure if technical analysis works in Forex. It was invented in the stock market, which has less government involvement than Forex. I don't think technical indicators will perform fine in manipulated markets.
People tend to believe they can use a small amount of money to make a fortune, and this is how forex brokers use to lure customers. However, it's quite impossible simply due to the nature of price movements in Forex: price changes 0.0001 per trade, therefore it's abnormal that you would make more than 2% a day even if you kept trading and winning all that day.
I'm not sure if technical analysis works in Forex. It was invented in the stock market, which has less government involvement than Forex. I don't think technical indicators will perform fine in manipulated markets.
verial
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I started out using 100% technical signals. I was profitable. You can do it.
However, when I added fundamental signals, my accuracy increased. Sometimes, ignoring fundamentals can help you cut through all the junk info out there. However, sometimes you miss important details that could make or break your trade.
I recommend using technicals as the decision-maker and using fundamentals to “check” if the technical position makes sense.
However, when I added fundamental signals, my accuracy increased. Sometimes, ignoring fundamentals can help you cut through all the junk info out there. However, sometimes you miss important details that could make or break your trade.
I recommend using technicals as the decision-maker and using fundamentals to “check” if the technical position makes sense.
foroom lluzers
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Most professors who teach in business schools feel that most technical analysis rules are historic , and are belief aids for gamblers.Gamblers need a reason to bet , and technical anylysis gives gamblers the beliefs.
A recent study by finance professors at Massey University in New Zealand examined more than 5,000 technical trading rules to see if they added value. The authors found "no evidence that the profits to the technical trading rules we consider are greater than those that might be expected due to random data variation."
http://www.cbsnews.com/news/is-technical-analysis-a-waste-of-time/
Most of you will give opinions of why t/a works , you can not provide any evidence or studies because technical anylysis can not be tested , it does not always work , all context can not be applied in testing , emotional trading failures due to t/a failure can't be tested , stress and it's negative influences of t/a can't be back tested.Give me 50 opinion posts without evidence ,and start up 10 other threads positive about t/a , that t/a works.
t/a gives you beliefs to place real money bets , on historical set ups , why would it work ?Every set up of t/a has 3 outcomes ,they fail or nothing happens or it works = 33% chance of success .
A recent study by finance professors at Massey University in New Zealand examined more than 5,000 technical trading rules to see if they added value. The authors found "no evidence that the profits to the technical trading rules we consider are greater than those that might be expected due to random data variation."
http://www.cbsnews.com/news/is-technical-analysis-a-waste-of-time/
Most of you will give opinions of why t/a works , you can not provide any evidence or studies because technical anylysis can not be tested , it does not always work , all context can not be applied in testing , emotional trading failures due to t/a failure can't be tested , stress and it's negative influences of t/a can't be back tested.Give me 50 opinion posts without evidence ,and start up 10 other threads positive about t/a , that t/a works.
t/a gives you beliefs to place real money bets , on historical set ups , why would it work ?Every set up of t/a has 3 outcomes ,they fail or nothing happens or it works = 33% chance of success .
foroom lluzers
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They should look for high probability techical signals , on higher time frames 1 hour + , based on fundamental drivers .
Knowing the instrument behaviour makes a difference , support work well in stock markets .
http://www.trade2win.com/boards/edu...h-probability-trading-system-75-hit-rate.html
Surely, but it's not recommended as understanding of fundamentals make predictions more precise
Yes, Off course you can fully Rely on Technical Trading as you want to trade Forex however in that case you need to make sure to stay away from the market when there is any major news announcements are about to occur as during those hours Technical analysis doesn't help at all.
News trading is exceptionally challenging and tricky. Basically I find it unpredictable, because apart of the guessing pre-market sentiments and news outcome you also need to save your trading from manipulations which sometimes happen, sometimes not.
Technical analysis fallacy is that it based on history, to be precise on the principle that history repeats itself. But its misleading view as market fundamentals mix in different proportions every time so is the lines that makes unique explanation of the price move only for that fine point of time.
foroom lluzers
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those points of support are use widely , they speak more volumes than volume , they tell you something the idiots don't understand.
EnlightenedJoe
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We all know you can't prove it.
EnlightenedJoe
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Yes, this is called scientific method. You are scientific, no ?
Technical analysis based trading is actually comprised of two components - technical analysis (left hand side of the chart) and trading (the right hand side of the chart). The former is where you take all the technical analysis of historical price action to determine your trade plan. The quality of your analysis is a relevant determinant of your win/loss ratio over a statistical meaningful population size. Your win/loss ratio cannot be assumed but can only be established by your actual performance over time. I used the word "relevant: because the other important component is trading itself and is about entry, trade management and exit and they are predominantly linked to trade psychology. Your success or failure as a technical trader is your ability to marry the two consistently. It is easier said than done.
What has been raised as a question on this thread is whether technical analysis is sufficient and by that I assumed it means whether one can be consistently profitable using technical analysis only. I think if you look hard enough you will find examples to justify whatever position you wish to take. However what is important and meaningful for each trader individually to address is whether technical analysis is taking you where you want to go with your bottom line. Sadly we know the success rate is very low. Trading is hard. You need to build on your strengths and work on your weaknesses. It requires discipline and hard work.
What has been raised as a question on this thread is whether technical analysis is sufficient and by that I assumed it means whether one can be consistently profitable using technical analysis only. I think if you look hard enough you will find examples to justify whatever position you wish to take. However what is important and meaningful for each trader individually to address is whether technical analysis is taking you where you want to go with your bottom line. Sadly we know the success rate is very low. Trading is hard. You need to build on your strengths and work on your weaknesses. It requires discipline and hard work.
