No doubt, there have so many successful Forex traders in this forum! So traders, what’s your opinion on this issue? What is the 1st step for newcomers? Technical or Fundamental? Yes, I know both are important, but now I am interested to know your opinion on this issue! Please share your opinion here!
I think that initially it's good to read up the basics of both and then decide which one fits you better.
You cannot separate technical and fundamental analysis.
I suggest to focus on technical and use at least a bit of fundamental to avoid major economic news and counter trend trading.
I suggest to focus on technical and use at least a bit of fundamental to avoid major economic news and counter trend trading.
Good point. One can focus one of these but that doesn't mean they should - or can, for that matter - totally ignore the other.
May 15 2017 at 10:07
AniLorak posted:
No doubt, there have so many successful Forex traders in this forum! So traders, what’s your opinion on this issue? What is the 1st step for newcomers? Technical or Fundamental? Yes, I know both are important, but now I am interested to know your opinion on this issue! Please share your opinion here!
you need the two philosophies to make better trades. first, you must understand the basics. these are good articles to start to.
technical analysis (https://www.fm-fx.today/technical-analysis/)
fundamental analysis (https://www.fmfxreviews.com/fundamental-analysis/)
Easier part is the technical analysis, but in fact the fundament (economic data, news, etc.) creates the trading environment.
bottom line: in both are important, but fundamental trading is a bit more difficult :)
bottom line: in both are important, but fundamental trading is a bit more difficult :)
May 15 2017 at 14:46
You need both really. I use fundamental analysis for direction and then technical set ups to time entries
MadBadDangerous posted:
You need both really. I use fundamental analysis for direction and then technical set ups to time entries
What books did you read to educate yourself about fundamental analysis? I admit I only know the basics.
Both are needed, first fundamental second technical.
"They mistook leverage with genius".
May 18 2017 at 12:18
Whatever technical or fundamental it is, novice traders need to start from basic level! But obviously, they should practice both of them! Personally I think, fundamental analysis is much important than technical. So new traders need to spend their more time on news analysis! I started from fundamental technical!
I started first with technical analysis and I can't say I have any complaints. It's a very subjective thing, if you ask me.
Useful for finding entry points and exits,will hold true until some other influences take control.
"They mistook leverage with genius".
togr posted:
You cannot separate technical and fundamental analysis.
I suggest to focus on technical and use at least a bit of fundamental to avoid major economic news and counter trend trading.
That’s the real thing! For being a successful Forex trader, novice traders should follow on both kind of market analysis! Yes, they can start with any of them, but gradually have to add another one in their learning session! My learning process was, technical then fundamental then sentimental!
It doesn't take much fundamental analysis to know which events to avoid though - any decent economic calendar will list them for you.
mlawson71 posted:
It doesn't take much fundamental analysis to know which events to avoid though - any decent economic calendar will list them for you.
true
snapdragon1970 posted:
Both are needed, first fundamental second technical.
May be yes! But I think, technical analysis is relatively easily than news analysis, so I seem it would be handy if new traders start from basic of technical analysis! Besides, news analysis is a long term process, and there have so many sectors!
Jun 26 2017 at 06:20
AniLorak posted:
No doubt, there have so many successful Forex traders in this forum! So traders, what’s your opinion on this issue? What is the 1st step for newcomers? Technical or Fundamental? Yes, I know both are important, but now I am interested to know your opinion on this issue! Please share your opinion here!
Both are useful. Here is an example on CAD in the screenshot. My technical analysis suggests a move higher in usdcad this week, so I am long now.
AniLorak posted:snapdragon1970 posted:
Both are needed, first fundamental second technical.
May be yes! But I think, technical analysis is relatively easily than news analysis, so I seem it would be handy if new traders start from basic of technical analysis! Besides, news analysis is a long term process, and there have so many sectors!
News analysis can be daily, weekly etc , you only have to keep up to date with news that effects what your trading, that comes with experience and education.
"They mistook leverage with genius".
snapdragon1970 posted:AniLorak posted:snapdragon1970 posted:
Both are needed, first fundamental second technical.
May be yes! But I think, technical analysis is relatively easily than news analysis, so I seem it would be handy if new traders start from basic of technical analysis! Besides, news analysis is a long term process, and there have so many sectors!
News analysis can be daily, weekly etc , you only have to keep up to date with news that effects what your trading, that comes with experience and education.
I agree. If there's one thing that can be said about Forex trading - and analysis, for that matter - is that it always keeps you on your toes. If it doesn't then it's probably harder to trade.
mlawson71 posted:snapdragon1970 posted:AniLorak posted:snapdragon1970 posted:
Both are needed, first fundamental second technical.
May be yes! But I think, technical analysis is relatively easily than news analysis, so I seem it would be handy if new traders start from basic of technical analysis! Besides, news analysis is a long term process, and there have so many sectors!
News analysis can be daily, weekly etc , you only have to keep up to date with news that effects what your trading, that comes with experience and education.
I agree. If there's one thing that can be said about Forex trading - and analysis, for that matter - is that it always keeps you on your toes. If it doesn't then it's probably harder to trade.
Good comment 'on your toes'.
"They mistook leverage with genius".
