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Since 006 does not believe in the indicators, I believe he is just a fundamental trader. Though Forex is considered the most technical market to trade in, one cannot just rely on indicators alone to provide the signal, it must always be confirmed by several indicators; that's the bottom line. If everything relied on technical analysis alone, we would all have found the Holy Grail, and what fun would it be to be in the market, no one would be making or losing money....
Trading the news is always risky, but it you have a well developed plan, you can actually make money, and not just trash TA as useless. I have always traded using TA, and not care about fundamentals, that is, not trade during news time, and have always done well.
If everyone here believes TA indicators or oscillators are useless, why bother having it on your charts, might as well trade blindly. I would just like to see how many people would do that in reality....
Well said. All of us will never know why the market moves as it does, all we can do is jump on and follow, buy and sell with the big boys. TA increases the probabilities of the out come. Yeah theres no magic indicator, dont beleive in magic anyway...but lets have it right, it's not rocket science.........is it........
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