can you trade forex without technical analysis?

[harizen]

Literally yes if we will answer directly the question in yes or no.

But for those people who doesn't take care about analyzation, then try doing forex trading with or without technical analyzation and sees what will be the output. Compare them.

No assurance that we will always win out of out our technical analysis but for reference purposes it's a must since it will decide our future moves.

[elyas772]

i can do it, when i read a good news, im not interesting to re-watch the chart, just buy it and waiting the pump
because good news is good for start pump it.

[deisik]

Literally yes if we will answer directly the question in yes or no.

But for those people who doesn't take care about analyzation, then try doing forex trading with or without technical analyzation and sees what will be the output. Compare them

I tried it for real with my own hard-earned money, though not "forex" trading, but currency futures using a custom-built trading bot, i.e. used pure emotionless TA if you please. All I can add to what I said earlier about TA boils down to stating that I would have gotten better results if I had just bought and waited until the price rose above my entry point and then closed my position (a simple one-way "buy low sell high" strategy)...

Besides, I'm also singularly curious how many peeps who commented here are actually "trading forex"

[TraderETH]

I think i can do it, but it will not survive for long time my money will be lost for short time without analysis tecnical because it is mean i just trade just with my lucky, and i think it is like play dice gambling because of depend on my lucky.

[yakdivine]

Forex or currency trading is a good business or profession, if and only if we can remove emotions and trade with gut. From my experience I can testify that, just single technical indicator is enough for you to make $100 of thousands from the market but emotion is the problem. I have test Fibonacci, trend line and boligoband work most times perfectly in analyzing the market but just this problem called emotion!. How can we arrest this enemy of our trade call emotion? How can we remove emotion from my trade o God.

[socks435]

I think i can do it, but it will not survive for long time my money will be lost for short time without analysis tecnical because it is mean i just trade just with my lucky, and i think it is like play dice gambling because of depend on my lucky.

Honestly never tried to trade in forex but as i heard to someone out side in this forum its not easy to trade there..
Better to trade here or even in yobit its more easy to trade if you choose altcoin there is fast movement..

[icecube45]

Analysis of the trade is very important in my opinion. If we use trade without analysis is very risky and difficult to make a profit, though it can but rely on luck. The analysis must be done properly so that we can expect fruitful and profitable.

[TheSnow]

I think i can do it, but it will not survive for long time my money will be lost for short time without analysis tecnical because it is mean i just trade just with my lucky, and i think it is like play dice gambling because of depend on my lucky.

Ya just like you said,if we trade in forex without doing analysis first,we will just trading in randrom,it just like playing dice.Why not just we play dice if we don wan to make analysis first ? The one advantage of forex trading is we can make analysis for predicting the next price movement.Even the analysis is not 100% accurate,but still,we can increase the chance.

[pooya87]

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 is like a help, a help that shows you the possible way but in the real world prices are affected by many factors that you can't consider them in your technical analysis. you have to add them yourself manually.

[el kaka22]

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 is like a help, a help that shows you the possible way but in the real world prices are affected by many factors that you can't consider them in your technical analysis. you have to add them yourself manually.

But in my experience and observation, technical analysis will win at the end. The news and events just the triggers to make fluctuations in trading, but to predict how long a movement will last, we must need technical analysis.

In simple words, a news may affect a market to go up or down. Technical analysis will tell you how many units of movement that news may produce.

[noictib]

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 it is foolness of that person who start trade with forex without experience about rate technique . because i was the one of the fool and fail trader because of only experience . so i think we should take some experience before to trade for anything .

[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?

technical analysis is like a help, a help that shows you the possible way but in the real world prices are affected by many factors that you can't consider them in your technical analysis. you have to add them yourself manually.

But in my experience and observation, technical analysis will win at the end. The news and events just the triggers to make fluctuations in trading, but to predict how long a movement will last, we must need technical analysis.

In simple words, a news may affect a market to go up or down. Technical analysis will tell you how many units of movement that news may produce.

you have said it all from my experience and following trade history in meta trade4 I have observed that market fluctuate based on news and other important fundamental analysis. However, the market will always reconciled to technical analysis formation.

[capoeira]

the bigger the timeframe, better FA becomes;
the smaller the timeframe, better TA becomes.

that is for all markets,

now: if you like FA trading you will prefer to trade stocks since currencys are effected by a lot of factors and events

[FilipZ]

any tech analysis is crap, coz it only explains past trades.

you can use your lucky coin to decide in what direction to open trade.

[erikalui]

Technical analysis should always be a preferred option when you aren't sure about which currency pair to bid on. I tried trading with forex signals and incurred a huge loss of $40 initially but since then, I enabled the news option in my trading portal and am earning a steady profit. These analysis are quite reliable (although they don't have any assurance as it finally depends on the market stability). You can also check the graph and decide whether to play a buy or sell trade.

[audaciousbeing]

Although, I am not a trader but the reason why I haven't started is no other than the fact of the knowledge of technical analysis which I am yet to possess in which is also applicable to Forex, at the same time I also believe that Technical analysis will not be the absolute determining factor as sometimes the issue of subjectivity will have to come in but that would be after the Technical part as been mastered.

[SAMKUSH]

I have traded forex occasionally over the past few years and have learnt although technical analysis can be useful it is definitely not something to base trades on. Any event could completely change the trend of a currency pair and technical analysis does not take this into consideration.

[capoeira]

people quite don't understand that "a higher low and a higher high" is allready TA

[South Park]

The more tools and resources that you may have at your disposal the better, I think it’s possible to trade in forex without those skills but why would you want to do it? If you want to earn money then get every single skill that you can.

[deisik]

the bigger the timeframe, better FA becomes;
the smaller the timeframe, better TA becomes.

that is for all markets

The smaller the time frame the more noise will be in the data. And the higher the chances that some TA tool will turn out to be correct about the future price movement (broken clock). With the caveat that you should somehow pick up the right tool beforehand...

people quite don't understand that "a higher low and a higher high" is allready TA

So riding the trend is TA too since that's how you would algorithmically determine it ("a higher low and a higher high")?