I am new to trading and i would really like to base my trading around 'fundamentals' if anyone can help me out with learning how to read report and news correctly that would be awesome, Also am looking to make a few friends on the trading scene i can use to bounce ideas of and ask questions and so on
thanks 😄
thanks 😄
You win some you lose some
Adam85 posted:
I am new to trading and i would really like to base my trading around 'fundamentals' if anyone can help me out with learning how to read report and news correctly that would be awesome, Also am looking to make a few friends on the trading scene i can use to bounce ideas of and ask questions and so on
thanks 😄
Hi Adam,
Fundamental analysis (FA) is very biased.
You can easily get losses start from here :)
I suggest you start learning from Trend, Support and Resistance, M/M and R/R.
and also .. please prevent of use lagging technical indicators.
Finally, find out a trading style that fit with yourself.
Have a nice day,
Yohana
The weakest creature in the world is a human. It's a reason why the human always develop anything to make them stronger. I am here is just for share, not teaching anyone :)
Hi Yohana
Thanks for the advice i will try and start with Trend,Support and Resistance and work my way from there, I appreciate the advise 😄
thank you
Thanks for the advice i will try and start with Trend,Support and Resistance and work my way from there, I appreciate the advise 😄
thank you
You win some you lose some
Learn price action.
Less is More
1) Do not predict. NEVER!
2) Trade what you see, not what you think.
Regards, Alexander
Thanks Alex I will take that on board
You win some you lose some
Adam85 posted:
Thanks Alex I will take that on board
You are welcome! 😄
Hi Adam - once you do all your analysis and decided where to put your stops and your entries you need to stop and think. The markets are characterized by huge banks and funds hunting out the stops which typically congregate around the same important areas as everyone uses similar analysis techniques. So NEVER put your stops where it seems rational because all the smart retail traders will have put their stops there making a nice target for a stop hunt. Where there are high numbers of stops they will be hunted and your trades taken out over and over again. Try putting your buy or sell orders where the majority are placing their stops. This will give you an edge.
If you want to trade FX look at traders4traders.com
Don't waste your money on anything else!
Don't waste your money on anything else!
Mar 19 2014 at 16:31
Actually, you are not ready to spend money yet. There is a basis of fundamentals running throughout the forex market of course, however to trade fundamentals the way that the banks do is just about impossible for the small trader because by the time we get the news, it isn't news anymore.
May I suggest that the easiest way to learn forex trading is from a systemic point of view. It is the easiest method to learn but it gives you the basic understanding of what the market does and why they do what they do. After that, figuring out technical systems is not all that difficult. Here is a fundamental aspect of forex that most technical traders do not even know about, there is such a thing as normal. And there are ways to take advantage of that normalcy but you will never get this using a technical trading system.
First, only trade demos until you can make money all the time. Once you are good enough to win consistently on a demo account, then and only then should you go to a small (like a mini account) live trade account. This will help you get over the nervousness a little at a time. Now you need a system to start with, don't be concerned with how much it makes, that is a rookie mistake. Understand how the systems work and build from there.
At the risk of someone bitching about selling something, I wrote a book to help new traders and investors. It is a text type book but not hard to understand. You can find it at TheSafeInvestor.com It is not the free book but that is also good for you, and I would get it first, but the one you want is called Robotic Investing. If the systems are straightforward enough for a computer to use, it is logical enough for a human to follow.
Now the question is who do you trust, there are a gang of ego maniacs on these forums, all absolutely positive that they are the best thing since sliced bread but the simple fact is 80% of technical traders lose more than they make. Compare that to a system that has over 3000 wins, with zero losses. (Not counting one loss for 8 cents because that was not the system, just a power problem.) Yes, I will prove that if you need me too.
Humans can't trade systemic systems because that system was created for the computers use. You can easily understand the principles that make it work though and that is where I had my sons start.
I am available to answer questions on systemic trading and their systems at
https://www.myfxbook.com/community/trading-systems/rise-audcad/558239,1
Hope to hear from you.
Bob
May I suggest that the easiest way to learn forex trading is from a systemic point of view. It is the easiest method to learn but it gives you the basic understanding of what the market does and why they do what they do. After that, figuring out technical systems is not all that difficult. Here is a fundamental aspect of forex that most technical traders do not even know about, there is such a thing as normal. And there are ways to take advantage of that normalcy but you will never get this using a technical trading system.
First, only trade demos until you can make money all the time. Once you are good enough to win consistently on a demo account, then and only then should you go to a small (like a mini account) live trade account. This will help you get over the nervousness a little at a time. Now you need a system to start with, don't be concerned with how much it makes, that is a rookie mistake. Understand how the systems work and build from there.
At the risk of someone bitching about selling something, I wrote a book to help new traders and investors. It is a text type book but not hard to understand. You can find it at TheSafeInvestor.com It is not the free book but that is also good for you, and I would get it first, but the one you want is called Robotic Investing. If the systems are straightforward enough for a computer to use, it is logical enough for a human to follow.
Now the question is who do you trust, there are a gang of ego maniacs on these forums, all absolutely positive that they are the best thing since sliced bread but the simple fact is 80% of technical traders lose more than they make. Compare that to a system that has over 3000 wins, with zero losses. (Not counting one loss for 8 cents because that was not the system, just a power problem.) Yes, I will prove that if you need me too.
Humans can't trade systemic systems because that system was created for the computers use. You can easily understand the principles that make it work though and that is where I had my sons start.
I am available to answer questions on systemic trading and their systems at
https://www.myfxbook.com/community/trading-systems/rise-audcad/558239,1
Hope to hear from you.
Bob
where research touches lives.
