As a step forward to my Forex study, I would really appreciate if some experienced trader could recommend me wich books should I look for a good base of knowledge.
At this stage of trading I’m basically ignoring completely fundamentals and closing all positions before and after news releases for example. The fact is knowing that Forex is an human driven market I should not ignore it anymore as it could help me with better entries, and believe me that’s something I really need to improve
There’s not much you really need to know about fundamentals unless your specificly trading them. The main source of info is news which you can get on various sites including BP. Just keep track of the news reports.
When a news report comes out saying the previous and the forecast and the specified date of release the market will adjust slightly to the forecast because of the fundamental traders. When the report is actually released if the actual number is far different than the forecast expect a big movement accordingly if it was high impact news.
I don’t use any fundamentals in my trading. Price is already relfecting fundamentals and I’m just trading price so it doesn’t matter much to me.
If you are looking for a book you can look at Mastering Fundamental Analysis by Michael C. Thomsett.
If you want to have an idea of how fundamentals affect the market, I highly recommend you to read Ashraf Laidi’s website.
His insights are very practical and top notch. Not that you’re going to get it right away, but with time you’ll get a grasp of what the guy is talking about.
