Hello, there, this is my first post and I am a newbie.
I’ve been observing the forex market for a while and it is my conclusion that it is the fundamental themes that ultimately guide the currency moves not some “signals”. But why ppl are taking about things like “techs” all the time? I think reading signals is like pretty much like reading lines on the palm, IMO:(…yeah…sometimes you got it right…it is 50 to 50 anyway (win vs. lose) --much better than the chances of gambling. So I am sticking with the fundies…
May I have some of your thoughts too ?
You have “observed” the market, but have you actually traded in it? These are two different things. Open a demo account and trade based on fundamentals for 2 months and then get back to me. Maybe you are a fundamental trader and it will work for you.
For me, technical analysis is all there is. Whenever I listen to the news I end up losing money. And no my win/loss ratio is not 50/50, it ranges from 70% all the way up to 85% wins at times. Mind you, the USD’s sudden rise this week is mopping the floor with my butt because I don’t know if many people anticipated it to break through a resistance level that has been holding steady since last October… I don’t know if even fundamental analysis could have predicted that.
daimen88…when a fundamental report is realeased it affects in a strong way the pair for a period, but it doesnt mean that the technical analysis doesnt.
Behind the technical analysis is psychology, is not like reading lines on your palm, there�s so much invloved. Maybe you should read a couple of books about technical analysis and start trading…
Hi, guys, thanks for your feed back
Sounds like trading not an easy task , but to quote someone :" use fundamental strategy to predict broad market themes, and technical analysis to identify smart entry and exit " Maybe there is some secret grail somewhere??? :rolleyes:
Well, I’ll give it a shot soon…