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[Razor1911]

Trading in forex is not easy at all. You need to deal with intense amount of risk and not everyone can bear the heat of such risks. Many traders simply leave the forex because of their inability to cop up with risks.

A trader, if wants to trade and sustain here for full time, should try first to minimize the risk. And one of the best way to do it is to use indicators. Indicators helps us to give a clear idea about the market movements. And using indicators like fibonacci or bollinger bands, we can know the correct position of entry and exit from the marke.

 

[Niftyicon]

A good trader needs his indicators. He may favour one over the other but he can't do without indicators. There are some customized indicators that you can use across platforms and they have been confirmed to be efficient.

 

[Razor1911]

A good trader needs his indicators. He may favour one over the other but he can't do without indicators. There are some customized indicators that you can use across platforms and they have been confirmed to be efficient.

But have you heard about the naked strategy? Where trader trades only with candle sticks and nothing else. Not a single indicator is used for trading, and it is also highly successful strategy too.

 

[Razor1911]

It's very possible to predict wrongly even when you make use of the indicator. Actually, I have not traded forex before, but I don't know if their is stop-loss, take-profit entry order in forex too. Some cryptocurrency exchanges offers this features, and it helps to reduce risk

Yes. It is applicable to all kinds of trading platforms. Even in stock trading also you will find the SL and TP. These are two basic things which every trading market should have.

 

[a_jerobon]

Indicators are very important in forex trading. You can trade without them but you will go through so much doubt and will have more risks. It is best to use indicators to minimize risks.

 

[Razor1911]

we can trade without using indicators, of course we can use support and resistance areas and we can combine it with price action or trend charts, and it's simpler in my opinion and many have used it

Yes there is no compulsion that we have to necessarily use the indicators. But these are made for the ease of the traders while analysis. So we should use them as much as we can.

 

[ashim kate]

There are a lot of people who have strictly been following price action and they have been successful in their trading but that is something that I will really not fancy because technical indicators are going to show you a lot of things that are happening in the market and they will make your decision making much more easier.

 

[Ivanr01]

Indicators are only for professional traders who know jow to use it and generate profit by it. Normal traders or risktakers just can trade without them and hoping they can earn some money just by luck. Trading isnt for everyone.. It requires a lot of capital and little error can make you bankrupt.

 

[kaycee001]

Forex is some very technical for someone so trading with indicators can help minimize risk of loosing ones fund.so i think indicators should be use anytime one wants to trade unless if the person just want to gamble which can be 50 50 chances

 

[ashim kate]

You can be able to trace the resistance and support levels conveniently and make a lot of money from it. Prices in forex is usually moving at a very fast rate and as such you are not going to find it very easy if you are not using technical indicators. It is not difficult to learn and I advise that you should spend time in gaining information around it first.

 

[dorcasy]

It's all preference and choice,the main aim should be targetted at making profits.
Personally I don't like using indicators as I love my chart to be clean and also enables me to draw my trend lines without any hitch.
Sometimes using many indicator bin your chart can interprete wrong enteries and can also lag behind.

 

[Kingsleyy]

There is no how you can be able to trade without an indicator because it is absolutely necessary , even top expert cannot just predict the market without looking at certain things to indicate a possible downtrend or uptrend in cryptocurrency.. trading without an indicator to me I consider it as a risky trade.

 

[dorcasy]

There are a lot of people who have strictly been following price action and they have been successful in their trading but that is something that I will really not fancy because technical indicators are going to show you a lot of things that are happening in the market and they will make your decision making much more easier.

Personally I started trading with a clean chart and I have always enjoyed using price action techniques for trading especially long term trades,but with time I have start adding indicators to my chart because I really need to be clear before entering any trade and not just for the fun of it.
Indicators gives that extra confirmation.

 

[Kubiat-Abasi]

It is possible to trade in Forex without indicators but you should be ascertained that you're trading on a risky path. Forex traders should learn to use indicators like; resistance and supporting method, using the swing method of trading, that is, you skip some days or hours without trading, using the news as a vital indicator can curb excessive losses in Forex trading. Also, your emotions should be subsumed.

 

[Skysaint]

A trader can possibly trade without having to make use of any indicator but it will be almost impossible for you to earn a dime from forex trading. It's actually a good option for anyone who have money to waste and is looking for a perfect way to do it.
If you want to trade and still succeed in forex trading then you have to make good use of forex trading indicators, not just using them but learning to master how to read and apply them to our trading activities.

 

[Mariappa45]

Correct, I don't see why a user wouldn't use the indicators to trade forex, the market is just volatile like any other digital trading. Use of indicators gives us the overview of the market movement, and helps us acknowledge the asset performance in previous times and at the current basis.

 

[Ofonime]

Correct, I don't see why a user wouldn't use the indicators to trade forex, the market is just volatile like any other digital trading. Use of indicators gives us the overview of the market movement, and helps us acknowledge the asset performance in previous times and at the current basis.

Trading indicators are very important when its come to forex,if you dont have the knowledge and skill on how to use and read each indicators reaction its going to be difficult to know the market trends,I use indicators like(macd) to predict the direction of my trade so indicators are very usefull you can even start with the custorm indicators.

 

[Carl1995]

Trading indicators are very important when its come to forex,if you dont have the knowledge and skill on how to use and read each indicators reaction its going to be difficult to know the market trends,I use indicators like(macd) to predict the direction of my trade so indicators are very usefull you can even start with the custorm indicators.

Indeed, asking a trader to trade without indicators is like asking a driver to drive blindfolded. Trading doesn't depend on luck but rather on strategic thinking with the help of indicators. It is one of the main weapons of traders in their daily battles in forex

 

[Mariappa45]

Trading indicators are very important when its come to forex,if you dont have the knowledge and skill on how to use and read each indicators reaction its going to be difficult to know the market trends,I use indicators like(macd) to predict the direction of my trade so indicators are very usefull you can even start with the custorm indicators.

It's interesting getting to know about the indicators you're making use of. Do you trade both forex and crypto?
I use the custom indicators provided at binance exchange to trade either Futures contract or spot. It helps me to keep on track of the pairs movement in the last 24 hours, or seven days. But such doesn't decide the prediction for me, I use advance softwares to get the right info around potential coins I make prediction on.

 

[Mariappa45]

Exactly, going into a trading venture without checking or using the indicators is like buying a product with knowing what it is you are buying. It is very risky because indicators serve the purpose of showing you the current market structure so you can predict with some form of accuracy if it gonna rise up the trend or fall.

Indicators helps you to read the movement of the assets, it can be in the last 24, 48 hours or in the last seven days. Some indicators are custom indicators, provided by the broker you are trading with, or with the exchange you're trading with, especially with cryptocurrencies.