90% of traders fail... everyone knows it.... but WHY?
Most people put it down to psychology, or system chasing etc .... but I propose there's another reason, one that probably applies to most new traders:
Without Fundamentals you are gambling... trading on the CHANCE that a pattern if traded enough will eventually win....
With Fundamentals you are INVESTING.... there;s a big difference... sure you enter and exit markets technically as you need a consistent method for actually trading, BUT if you do so BASED on fundamentals when choosing a pair you will do far far better!
In fact ill make a controversial statenment:
You simply cant make a regular, long term, sustained profit from Forex without some basic fundamentals being applied to at least choosing your trading pairs and direction. Today's blog explores this statement in more detail: What do Fundamentals Mean to Trading, and WHY are they so VITAL?
In the blog I included a Youtube video that's shows you how and why the moves following last nights Aussie news were 100 pips stronger on the EURAUD compared to the AUDUSD....
Its entry level stuff that will make a big difference.https://fxnewstrader.co.uk/blog/blog/what-do-fundamentals-mean-to-trading-and-why-are-they-so-vital
HOLY GRAIL: Fundamental Analysis to chose your pairs/direction, Technical Entry/SL/TP for consistent Management of those decisions