The majority of the traders have false impression that by means of technical indicators forex trading can prove to be extremely easy. It is widely believed that technical indicators symbolize some kind of technological progression, which permits anyone to crack the secret of which course the forex market is heading for, without any market knowledge.
The second misconception that normally people have about technical indicators is that they think the more number of indicators a person utilizes, the better he can trade with added precision. As a consequence of these false impressions, the majority people, who use some kind of technical indicators, start and finish their forex trading profession very quickly.
Most people fail to realize that the only genuinely dependable indicator, which can make a forex trader successful, is price action.