Re: Is It Safe To Trade Pure Technical Analysis Or Do You Need News Too?

3
You can get away with trading technicals if you're trading higher timeframes (4 hour and above) but you absolutely need to know your fundamentals (news) to succeed.

A fun and easy way to learn fundamentals for new traders is by practicing with the free Forex Hero App. It'll take you through a trading school and give you real historic news scenarios with information and you answer questions on where you believe the trend is heading to unlock more levels and so forth. What's great is that it's an easy to understand app and it doesn't have popup ads or other bullshit either so it's perfect for newbies :thumbup:

These users thanked the author Jimmy for the post (total 7):
Krelian99, navid110, Thangarasu, Hua123, BeatlemaniaSA, Narutopips, 太虚一毫
Are you looking for a Forex broker? FBS cuts spreads by up to 58%. Click here to begin your trading journey, today.
No commissions are earned by Forex-station.


Guide to the "All Averages" Filters (ADXvma, Laguerre etc.) 🆕
Use Fibonacci numbers for indicator settings + How to draw Fibonacci Extensions
An easy trick for drawing Support & Resistance

Re: Is It Safe To Trade Pure Technical Analysis Or Do You Need News Too?

5
It is possible to trade technical or fundamental only, but it's difficult and you need many years for being profitable and never will be a real pro.
("I have a profitable grid-system/ Renko-shmenko. Am I a pro now?" - "No.")
If you combine both, you understand better why and what drives the market and can react to the situation faster and appropriately.
These users thanked the author Krelian99 for the post (total 2):
vvFish, Jimmy


Re: Is It Safe To Trade Pure Technical Analysis Or Do You Need News Too?

7
vvFish wrote: Fri May 04, 2018 6:24 pm Krelian99....?
("I have a profitable grid-system/ Renko-shmenko. Am I a pro no?" - "No.") ????
can share here publicly or in a private message? :shock:
Forgot the 'w' in now.

I personally don't use a grid-system since I'm a single open-position scalper and with the negative positions in a grid-system my hairs (the few I still have) would be gray in no time. Renko is similar, at least pure PA, but you don't understand anything. Only that the market moves. Can they be profitable? Yes, sure. I read about it and also here the whole secret lies in good Money Management. In escalating News situations a nice strategy.
These users thanked the author Krelian99 for the post:
vvFish


Who is online

Users browsing this forum: No registered users and 10 guests