Quote from: Oshosondy on June 03, 2022, 06:03:24 PM

Quote from: TheUltraElite on June 03, 2022, 03:44:24 PM

ndicators are only for giving a general idea about the market movement and not for accurately predicting the movement. Moreover, technical analysis is a pseudo-science and is more or less correct in 50-50 cases because a lot of factors are involved here.

Indicators are actually helping in prediction to know the direction the market will go, either up or down, but there are sometimes that indicators may fail, there are sometimes you may think the indicator failed to give you the right prediction, but later the market will correct itself to the direction the indicators are pointing to. I have used indicators and they work successfully. But no using only indicators will help, also self discipline and risk management are all important.

You are right that indicators will not make the trading successful all alone. You need other stuff, experience and risk/reward ratio correctly calculated is another one. I personally believe that the indicator reading is just a part of the trading world, and it is not the whole part.

I know for a fact that I had to do some stuff that would change things, but it will not be a simple change, I had to relearn all I knew about indicators in order to make sure that I didn't do any mistakes, because there were plenty of times when I lost money when in fact I did everything correctly like I should. It is not going to be a big major shock to anyone, but indicators do not have 100% success rate, if they did, we would all be simply using them and be wealthy.