PA is much better as compared to trading with the help of technical indicators. There can be different reasons and the reason u described is one of those reasons. Traders usually do not know any thing about statistics. They only follow a rule set by other traders that they see on a specific youtube video or some "guru's" book.

I dun think we need complete statistical knowledge to use an indicator. We just need forex related knowledge.

Originally posted by Sasha

I dun think we need complete statistical knowledge to use an indicator. We just need forex related knowledge.

Statistical knowledge about an indicator will help u analyze movements more accurately. Traders do not try to learn even a lil bit knowledge. They only follow someone's strategy as champ said.

Originally posted by illiterate

 

Originally posted by Sasha

 

I dun think we need complete statistical knowledge to use an indicator. We just need forex related knowledge.

 

 

Statistical knowledge about an indicator will help u analyze movements more accurately. Traders do not try to learn even a lil bit knowledge. They only follow someone's strategy as champ said.

Of course knowledge about an indicator is necessary. But only that is helpful in our trading. My point is that we dont need a 100 or 200 pages pdf to learn an indicator. A few video tutorials are enough. The remaining part can be learned through practice. 

My point is that an indicator is not a "magic" to conquer market. They just represent statistical information in graphical way. You need to understand those graph and read them as statistician read them. Debate about "how much knowledge is necessary" is unrelated.

Originally posted by Champ

My point is that an indicator is not a "magic" to conquer market. They just represent statistical information in graphical way. You need to understand those graph and read them as statistician read them. Debate about "how much knowledge is necessary" is unrelated.

Of course indicators can only help u to some extent. That is why probability of sucess in forex is very low for beginners and intermediate traders.

Originally posted by Jogi

 

Originally posted by Champ

 

My point is that an indicator is not a "magic" to conquer market. They just represent statistical information in graphical way. You need to understand those graph and read them as statistician read them. Debate about "how much knowledge is necessary" is unrelated.

 

 

Of course indicators can only help u to some extent. That is why probability of sucess in forex is very low for beginners and intermediate traders.

Difference in knowledge is one factor. Experience matters a lot. It is highly possible that two Pro traders r using two different sets of indicators successfully. But they cannot use any other set just bcoz they r not experienced in using other indicators or set of indicators. 

So apart from knowledge, experience is big factor in success.

There is no single way in forex which leads to success. So it is obvious that if u r using one method successfully then u dont need other methods. Why do Pro traders need to know all indicators when they r already making good profit with their strategy.

So the question is not if u can use more than 1 indicator successfully or not. The point is about role of indicators in trading.

Yes I agree that traders dont need more than 1 method to be successful. But my point was that indicators r not a magic way to be profitable in forex. Only experience and knowledge can bring success.

technical indicators r a proven way to success if used correctly. It depends on how u interpret the results of technical indicators.