do we expect too much from technical indicators?

Yes, I actually think that traders expect too much from technical indicators. Some rely on it for entry and exit signals and look to it like a magic formula which they arent.

For me i look out for candlestick patterns to tell me if a trend is about to reverse, then i only use indicators to confirm what the patterns show me.

Course sellers are partly to blame for the overestimation and exaggaretion of technical indicators because they make them seem like they are the solution to your trading problems just so that they can sell you a course on how to use the indicator.

The reason why you are losing money is not because you dont know how to use the gann fan, or bollinger band, or SMA indicator etc. no its not!

Heres the thing, you may be spending too much time learning how to use the latest indicator a course seller recommended to you, that you forget to work on other important traits a trader must have such as: risk management, discipline, etc. These are the things that make you a sucessful trader in the end and not how many indicators you know how to use.

if technical indicators were the solution to every traders problems then 99% wont be losing money would they?

Please watch this video interview of John Bollinger, the inventor of Bollinger Bands indicator. take note of how he talks about people expecting too much from bands.

Thats right @scooter, when I listen to new forex traders talk they all seem to focus too much on who can use the most complex technical indicator. They seem to think that the more indicators you have displayed on your charts, the better trader you are.

Personally I think technical indicators give you false confidence, and should only be used as a confirmation of what you already know.

To add to what @Ozgal said imagine you see an upward trend with lots of momentum and your indicator tells you to sell instead of buying will you just go ahead and sell against a trend? I guess not, in such a case, I would first of all look for candlestick patterns to confirm that the trend is going to reverse instead of just selling based on what an indicator says.

i trade basically using common sense price action which i develop my strategy on, then whenever something is not clear to me, i call up a technical indicator to help give me clarity. Thats is what indicators are for, they are not a trading strategy in themselves.

I suspect brokers are the ones behind the development of indicators so that 95% of traders will keep losing. Why the heck will I rely on a Christmas tree to show me something that has already happened when i could have seen it in real time using price action?