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.
Fundamental analysis isn't easy, and there's no rule about it, the only thing that can help you is your own experience and some techniques. So if you're a new trader I suggest to you to follow the economic calendar to be aware about all the news, so that you could avoid trading at news time. That will help you to avoid unnecessary losses!
Quand on veut on peut
Mar 22 2014 at 23:22
Fundamental trading is defined as listening to the news and trying to guess which way the price is going to go.
However, there is more to fundamental trading than that definition. What is the trading relationship between the two countries? What strategic importance does one have over the other. The closer the relationship between the two countries, the more the currency has to stay aligned with its counter part. The Aud/Nzd is so closely aligned that their currency price has never strayed more than 16 cents from center.
Systemic trading is the part of fundamental trading that doesn't rely on the current news, which is good because we can't get the current news soon enough to take advantage of it, unless your a bank. Because small time investors can't really trade with the defined fundamentals, we have developed and promote a new way to use fundamentals but call it systemic to avoid confusion.
Therefore I need to disagree with FxProdz concerning there being no rules. Of course we have rules but they are different than technical traders rules so they (technic traders) don't recognize them as rules. Technical trading is so pervasive that there are only a couple of us systemic/fundamental traders on the whole forum.
You are of course welcome to join us, that is why we are here, To meet new people that want to trade like we do.
General rule number one, be nice to technical traders, they out number us 98 to 2 and have been know to get aggressive if not fed.
Bob
However, there is more to fundamental trading than that definition. What is the trading relationship between the two countries? What strategic importance does one have over the other. The closer the relationship between the two countries, the more the currency has to stay aligned with its counter part. The Aud/Nzd is so closely aligned that their currency price has never strayed more than 16 cents from center.
Systemic trading is the part of fundamental trading that doesn't rely on the current news, which is good because we can't get the current news soon enough to take advantage of it, unless your a bank. Because small time investors can't really trade with the defined fundamentals, we have developed and promote a new way to use fundamentals but call it systemic to avoid confusion.
Therefore I need to disagree with FxProdz concerning there being no rules. Of course we have rules but they are different than technical traders rules so they (technic traders) don't recognize them as rules. Technical trading is so pervasive that there are only a couple of us systemic/fundamental traders on the whole forum.
You are of course welcome to join us, that is why we are here, To meet new people that want to trade like we do.
General rule number one, be nice to technical traders, they out number us 98 to 2 and have been know to get aggressive if not fed.
Bob
where research touches lives.
Mar 23 2014 at 08:34
Hey, I've been at this for a year. I'd suggest following a free signal service while entering your own trades manually. If you can mimic successful traders then you will be more confident. Also, open up a few 'trash' accounts and run some expert advisor's (robots) that will trade for you. You can analyze whether or not they are for you or not. They will run 24/7 if your CPU is on so you don't need to manage much.
ForexAssistant posted:
Therefore I need to disagree with FxProdz concerning there being no rules. Of course we have rules but they are different than technical traders rules so they (technic traders) don't recognize them as rules. Technical trading is so pervasive that there are only a couple of us systemic/fundamental traders on the whole forum.
You are of course welcome to join us, that is why we are here, To meet new people that want to trade like we do.
General rule number one, be nice to technical traders, they out number us 98 to 2 and have been know to get aggressive if not fed.
Bob
Hi dear Bob 😄
You're right,, it was just a mistake cuz when I said there's no rule, I didn't mean fundamental analysis has no rule, but I mean trading at the moment when the news releases doesn't have a specific rule, and it's really hard to identify the final direction, sometimes it moves to the opposite direction that we expect, sometimes it takes a direction and after few minutes it changes its direction. Frankly, I stopped trading news, but fundament alanalysis is something else and it's very important for swing and long term trading 😄
Quand on veut on peut
Mar 24 2014 at 08:07
i have some great advice for you! Don't Trade. take your money and buy yourself something nice or you will lose it to people like me who are on the other side of your losing trade...
this advice is free and your welcome....
this advice is free and your welcome....
Apr 02 2014 at 03:44
Better yet, learn to make money doing what you love doing.
That way even if you don't make much money, you still got the love.
This too is free advice and worth every cent, I might add.
Bob
That way even if you don't make much money, you still got the love.
This too is free advice and worth every cent, I might add.
Bob
where research touches lives.
Apr 02 2014 at 06:55
Hummmmm
Don't listen to this negative comments,If you love trading forex.My advise is to learn how the market works, and how to trade with simple price action.
Search for the trader name ' Nial Fuller ' His trading strategy is so simple and only using a pure price action.He also have a blog
you where he share his knowlegde about forex trading.
My first year trading in deo account is so depressing. Its all about psychology, and discipline in forex trading i think.
Search for the trader name ' Nial Fuller ' His trading strategy is so simple and only using a pure price action.He also have a blog
you where he share his knowlegde about forex trading.
My first year trading in deo account is so depressing. Its all about psychology, and discipline in forex trading i think.
Less is More
Apr 02 2014 at 15:27
hey.spend more time to study and understand how the currency markets work.....for about 3 to 6 months study from professional traders....learn to understand the charts...then demo trade to get hold the markets ..before putting your hard earned money on the line...cheers..
Apr 02 2014 at 18:24
People say learn how the market works. our system that makes the most does not look at news or technical analysis... its all garbage..
the area you need to learn is Quantum mechanics. this is how the markets really works.......
the area you need to learn is Quantum mechanics. this is how the markets really works.......
