I know that One "can" get rich on stocks using a dart board alone, but still I am looking for your opinion.
One "Can" get rich on anything. The question should be, is it likely. And the answer is no. Technical indicators have their place as...well...indicators. They're often useful in setting up a possible trade, but not so much as a trigger mechanism. As a simple example, let's say you're tracking a list of high EPS S&P 500 stocks, and looking for a good entry on a pullback. A common indicator for setups is an MA. Possibly a deviation from an MA. Or even an RSI, or a stochastic, etc. All on daily charts. But price action intraday is likely to trigger your trade. The same can hold true for any timeframe. There are no hard and fast rules. I'm just providing my own observations over a number of years. Good luck.
if you know basic stuff like avg volume, float,sector and maybe some news that is enough fundamental. You should not come to the market to become rich. You should come to make good trades. If you coming to be rich, money controls you and emotions take over as soon as you are loosing. Discipline, No emotions, Having a plan (risk management) - that's about trading
"Can one get rich on stocks using technical indicators alone?" In a word, yes. Of course an indicator will only give you the timing: when to get in and when to get out of a trade. You still need a position sizing strategy to tell you how much to trade. Go to the Risk Management forum for info on position sizing. Regarding indicators, the rub is that most are worthless. Not all, but definitely most. IMO you can count on one hand the number of publicly known indicators that are worth a damn. Also IMO the best known indicators are garbage. RSI, MACD and Stochastics are all garbage. IMO. Personally I believe the best indicator is the one you design yourself. But not everybody has the ability to do this. And, with the caveat that I am no expert on most public-domain indicators, I have found exactly one public-domain indicator that is worth my time. Don't ask, won't tell. Some things a wannabe trader has to figure out on his own. Good luck.
I doubt that very seriously. like life, the markets,aren't quite that simple. there are certain patterns or traits and tendencies. i know One "can" get rich on stocks using a dartboard alone but most will end up regretting their decision at last.
Technical analysis is the lazy man's "get rich quick" and easy scheme. What could be easier? And best of all its FREE! While TA can be useful for putting markets/stocks into context with the market/each other. But as a real time decision tool ( the way the market wants u to use it) its no better than random surf
The answer is NO because there's no such thing as "using only technical analysis or technical indicators and nothing else" unless you really did not literally meant such when you used the word "alone". You need a complete trading plan that involves risk management, position size management, discipline, proper trading instrument, right market at the right time and many other variables. That stuff is needed with the TA. Note: You gave no definition of your definition of the word rich. I'm going to assume you're defining such as a multi-millionaire considering that's the typical term for such in the financial world. Don't get confused. I'm not saying someone can not get rich from TA. There's just too many verified proof of such by traders of the past that did become rich while using TA (e.g. Paul Rotter) with other things. The issue here is your question...can such be done without any other variable in a trading plan when you said TA alone. Simply, TA alone can not compensate for those missing variables nor was it designed to work alone. In fact, if you look at the history of TA...those that designed it and using it...they were not using it alone. Thus, I'm always perplexed when I hear a trader say I use TA and nothing else...its just not possible. P.S. If you reply and give clarification that you didn't really meant...alone...there's already dozens of threads full of debates about that topic. Most of those debates if mainly due to so much vagueness and different opinions about what is TA, what is a trading plan, what is rich, what is trading for a living, what is chart analysis, what is technical indicators and so on...its beyond stupidity by now.
Disagree. Nothing more than proper TA is required to be a huge success over time. (If fact, "clouding/complicating your trading plays with other factors and variables" usually leads to reduced performance.) K.I.S.S., as always.
That is total BS, surf. Whereas there are a gazillion ways to "get it wrong", I suspect there are perhaps half dozen ways to "skin the market's cat". Proper TA is one of them.