Many times when I saw the way market accelerates/decelerates after major news break or make sudden turns, it makes me feel forex is trading in fast lanes! Forex appears to me as the F1 of trading.
It is true anyone can learn to drive. If a "L" plater drives a fast car, chances one could easily crash. In this regard, follow a structured program is an essential step to learn driving, forex is no different.
While it is not essential to know the engine & transmission system of a car to learn driving. But if one wishes to join the league into the fast lanes, it is a different game - knowledge more than basic function of car becomes essential - e.g. performance limits of the engine, braking system, tires characteristic, electronics etc.
The comparison is we do not need in-depth knowledge of Technical Analysis tools to trade. It is an added advantage to know these tools in greater depth so as to understand their usefulness and limitations.
Most people I know simply apply the rules in good (or blind) faith. I personally think it is rewarding to gain insights to the inner working of these tools - i.e. mill over the formulas of the tools and understands its behavior. That helps to explain when the rules fail, why they fails.
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