can you trade forex without technical analysis?

[yakdivine]

Trading forex can be narrow than to two forces that drive a single vehicle. Most time after analysing the market technically and a trade is sure that market trend has hit the support or resistance level or breakout has taken place, the candlestick also has signal you to enter buy or sell then you see that the trade go against that signal due to news or fundamental issue. My question is this, can we really depend on technical analysis in trading decision?

[1715406247]

1715406247

[1715406247]

1715406247

[1715406247]

1715406247

[1715406247]

1715406247

[1715406247]

1715406247

[mariodm]

Technical analysis is just one of the tools of the trader.

Its not accurate to say one can "depend" on it (or not).

As you say, the market can change its trend because of an event that can push the price up or down.   

Also, when making a specific trade one needs to know what is the time frame one is acting on, and having that in mind, how much would news or other factors impact in our analysis for that time frame.   

[tmfp]

Of course you can trade anything without technical analysis, just press the buttons randomly....

http://www.marketwatch.com/story/how-hedge-fund-geniuses-got-beaten-by-monkeys-again-2015-06-25

Seriously tho, TA has a money management value as well as providing entry points for trades.
The problem I have with "fundamental" analysis trading is how to ascribe a % move value to a specific piece of news or data. 

[Bitcoinsummoner]

You can do it without technical analysis in forex but it can be hardly to make you a good profit if you dont study and analyze it..
I am not a fortune teller but its just like coin flip if you can make a good profit or not.

[SANALIU]

you trading not analys only buy or sell same with gambling

iam trading forex only use news economic
and iam use indicator in MT4
1 pivot SNR (support and resistance)
2 bolinger band indicator
3 moving average
4 MACD
5 PZ harmonic

[yakdivine]

you trading not analys only buy or sell same with gambling

iam trading forex only use news economic
and iam use indicator in MT4
1 pivot SNR (support and resistance)
2 bolinger band indicator
3 moving average
4 MACD
5 PZ harmonic

I have been in forex trading since 2008. My observation is that there are two major  force that drive the forex market, most time technically we can see the direction of the trend and because of this we make trading decision. But fundamentally the market is neutral and before the trader realized the direction of the market has change against the trader position just because of news from the country of the currency pair. In my opinion if you what to be successful trader try to be skills in both technical and fundamental analysis, good money management principle, know how to set stop loss and take profit and above all trading is a business and not gambling so treat it as so.

[shield132]

I would say that technical analysis is one of the most important skill of trader, if you want to earn money and some profit with trading and stock exchanges, you must try your best to analyze what will happen in future and if you try to trade without any type of analyzes and your bet won't be demand on anything what is happening in trading, than I think your trading won't give you some profit, there will be only lost but maybe if you have great luck, than who knows what will happen. At first when Norwegian student brought bitcoin, he didn't know what would happen in future but he earned huge money.

[forextoBTC]

Trading forex can be narrow than to two forces that drive a single vehicle. Most time after analysing the market technically and a trade is sure that market trend has hit the support or resistance level or breakout has taken place, the candlestick also has signal you to enter buy or sell then you see that the trade go against that signal due to news or fundamental issue. My question is this, can we really depend on technical analysis in trading decision?

Technical analysis + proper money management = Yes

Fundamental analysis + proper money management = Yes

Fundamental + Technical analysis = No

Common link for the 'Yes', money management.

If a person were to trade 15 mins before NFP based on daily/lower Time frame analysis, trade went the other way and hit your SL. Then it will look like technical analysis didn't work. But keep in mind that if your money management is proper, you will see that the technicals now point the other way take your trade and hopefully be in the green.

Its all about probablility and how much to risk on each trade. The 9 out of 10 profitable trades is over what sample size?

Cheers

[BitcoinHodler]

Trading forex can be narrow than to two forces that drive a single vehicle. Most time after analysing the market technically and a trade is sure that market trend has hit the support or resistance level or breakout has taken place, the candlestick also has signal you to enter buy or sell then you see that the trade go against that signal due to news or fundamental issue. My question is this, can we really depend on technical analysis in trading decision?

i think the right answer to your question would be No. of course you can technically trade without any knowledge and with just your gut and the information you get from elsewhere. but that is not the right way of doing it.

also technical analysis is not useful on its own either. so you can't expect to know TA and be a successful trader there are a lot of news and other experiences that help you become successful.

[gkv9]

You can trade forex without technical analysis as you might have heard about Naked Price Action where you don't need to analyze the charts with the indicators and you need to guess the price based on what your mind says will happen to it... It has sometimes proven to be a profitable way of trading for me instead of adding so many indicators and waiting for it to say that this is the right time to trade, when the opportunity is already gone...

[Dudeperfect]

Yes, we can choose either technical or fundamental analysis, It won’t get much affected if we are skipping one of it. You can either choose technical or fundamental and go with the results. Even though I haven’t tried my hands in forex trading, I have more faith on fundamental analysis in trading stocks or even in cryptocurrencies. I usually rely on my own research which is based on fundamental analysis and I haven’t had any problem so far.

[Red-Apple]

yes you can but that is not really going to be a trading, it is going to be something like a lot of users around here are doing with altcoins. it is more like a gamble than a trade. although you can add some of your experience based analysis of the market and even be successful to some point but it is better to learn it.

[deisik]

Trading forex can be narrow than to two forces that drive a single vehicle. Most time after analysing the market technically and a trade is sure that market trend has hit the support or resistance level or breakout has taken place, the candlestick also has signal you to enter buy or sell then you see that the trade go against that signal due to news or fundamental issue. My question is this, can we really depend on technical analysis in trading decision?

In the long run it doesn't matter if you trade forex with or without technical analysis, since you are still equally doomed to fail in the long run. I have tick data for all major currencies (and gold too) for a time span of a few years, and I back-tested different trading strategies advertised as profitable by allegedly reputable traders and self-proclaimed gurus of trading using the smallest possible increments of price changes (from smaller changes to bigger ones). More specifically, I tested the EUR-USD pair as being the most liquid out there...

Nothing works, the price movements are totally random and chaotic

[angaper]

I have always thought that technical analysis is a pseudo science without objective foundations, based on mere subjective considerations. I have achieved a consistent profitability in forex for a couple of years without technical analysis or any other indicator, using only a proper calculation based exclusively on a proper Money management.

[justdimin]

For Forex trading, technical analysis are less significant compared to predicting the impacts of news and events. I do see huge volatile on Forex trading on news hours. Making use of news by having depth interpretation is more important to make profits from Forex trading.

[newcoins1978]

I don't think you can successful investing and trade with forex if you don't use analysis. Because without it you are pretty much gambling. Especially with CFD"s your risk is too large and with that you risk your capital. Never do that.

[Hellacopter]

I think it's pretty impossible to trade Forex or even altcoins without technical analysis, and without studying carefully the market and the chart . Trading need some knowledge because it's risky domain

[nejibens]

No, it's not possible to trade Forex without technical analysis, because you risk losing your money and its just like gambling this way.

[andyste]

succes trading forex must analys technical and fundamental
fundamental you must see and read about calender economic
cash bank rate, NFP and more
management money and risk must caluclate , always stop lost, without stop loost this ok but you must capital money enough over 2000pips or or over 20.000 point, without stop lost under 2000 pips is very danger

[JeffBrad12]

No, it's not possible to trade Forex without technical analysis, because you risk losing your money and its just like gambling this way.

the technical analysis just an additional factor in trading forex... but just depending on the basic knowledge of trading...  so with or not the technical analysis it's still like a gamble...  the people just using a technical analysis for take a decision but just giving a little contribution for their decission...