Max risk 1% per trade, NFA FIFO Compliant, 50% win rate - 2:1 R/R applied to all orders to allow for slippage, live account, verified, 5-10 mins a day and no robot making trading decisions, i.e. I pick my own trades based on solid fundamentals.
Basically I just wanted share the fact that Ive done this by simplifying trading, and applying BASIC fundamental analysis when picking each trading pair… I use no indicators, and no tools other than an app that allows me to place orders ahead of time without them going live until i want them to, and Ransquawk for building my daily fundamental picture… that’s it… you don’t even need these tools, you can just get the same info from Bloomberg from free…
I guess the point i’m trying to make is that fundamentals are make trading life so much easier… i’m happier because i spend a lot less time at the screen and my clients are happy as i’m making them more money and their equity curves are looking much better (I manage funds for a living).
All i’m looking for in this post is one thing… and that’s to inspire technical traders to at least consider adding some simple to their approach when it comes to choosing pairs and trades - the results make it worthwhile.
Technicals are of course important - as you need a consistent way to actually enter the markets, but in my opinion fundamentals should come first - i.e you use them to choose pairs and direction.
On that note - i’m off for a day on the golf course!
Have a great day all!
Ps - as usual there will be the influx of traders who say otherwise so perhaps to strengthen your points you could add a link to your myfxbook live accounts, as generally results do the talking… my pro-fundamental posts tend to cause to controversy yet no one tends to give any back up to what they write and show some actual performance.
There’s absolutely nothing wrong with you preaching advice on your preferred style of analysis to others, in fact it happens quite a lot on this forum. However advocating that anyone who disagree’s with this must back up their response with a verified account when you sir have only three months of history is not really a great call.
I’m not doubting that you’re great at what you do, and perhaps you do have a reliable and structured way of market analysis. However, when looking at your average gain in pips it reads as of today’s date 26.81 pips. I’m curious though, we all know fundamentals drive the market bias medium to long term (as you have already mentioned), so why such a low average gain in pips on your winning trades. 26.81 pips is far less than an average daily range on any currency pair. If fundamentals drive the market bias medium to long term, and you use fundamentals as you say, why do you have intra-day profit taking targets. It doesn’t seem logical at face value.
Since I don’t have a public account I would like to share you can ignore all of the above
It’s cool to see someone that has been able to use fundamentals successfully on a more short term basis (month by month instead of looking at long term economic trends).
I have always tried to incorporate fundamentals into my trading but I can’t seem to figure out how. Usually by the time news comes out, the price move has already occured before it and then news networks like bloomberg fish out some data to then support what has happened after it has happened.
Could you give some examples of how to build a basic fundamental picture for choosing pairs and trade opportunities?
I think the reason why forums are filled with mostly technical trading is because technical analysis actually has some guidelines on how it is used. By giving some guidelines on how to use fundamental data, maybe you will be able to inspire more people to use fundamentals.
Thanks for the feedback guys - i guess the reason why i mentioned people who comment on these kind of posts should have some sort of history to show they can trade on some level is to get rid of trolls more than anything - as you all know, you get a lot of people on here slating other posts for the sake of it.
So that’s also why i wanted to show how i personally am achieving the results this year. Ive actually been achieving similar results for a while ie beyond 12 months, but thats from trading client accounts, where im not the only one trading them, which made it difficult in terms of getting my own stats on myfxbook - so the account is fairly new because ive only started building an independent track record on my own account this year (if that makes sense.)
A great question about my trades being shorter term - in essence, I use the fundamentals to choose my base currencies and direction, then I piece those elements together to find the ideal trading pairs and direction and then use that for trading. The myfxbook account is just used to trade the higher impact news, based on this.
Nice short in, short out trades which is what i like, i.e. little screen time, more time to do stuff non-work related
I use a news feed/analysis service and use a simple outlook… so as an example, yesterdays EURAUD win - i chose that pair and direction based on the fact that the AUD had strengthened following their CPI falling within RBA targets, thus reducing the expectations of a rate cut and also the fact that the mess with Greece is leaving the EURO open to weakness. - So nothing expert, just a simple outlook. But, built on a picture over time, ive every day when i wake up I go through the daily fundamental reports from Ransquark and Bloomberg to keep that picture built, so i always have a good overview of whats going on - just enough to influence my pair choices and direction.
