what is the best way to learn fundamental of Fx trading and how to interpret with trading decision. Also I always had this question in mind that do we really need to know fundamentals one to become success in trading in Forex?
If you have enough knowledge of how the economy works, on what factors economic health of a country depends then I would say you can understand it in a better way. Try to understand the terms first, then you can go to look for the fundamentals.
For me both fundamental and technical analysis is good if we know how to use it. Problem is not comparing but problem is understanding. If we don't understand how technical and fundamental analysis works we will never going to learn how to trade in forex using analysis.
Forex fundamental analysis focuses on the overall state of the economy through various factors like interest rates, employment rate, GDP, international trade and manufacturing which can affect the value of a currency.
However, traders mostly ignore the fundamentals when trading currencies and focus only on the technical analysis. For a broad market view, understanding both is very important in successful trading.
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors.
Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance.
You could lose some or all of your initial investment. Do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.
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