Been a while. But I am curious, does anyone consistently profit from just technical analysis? Or do you implement fundamental analysis too?
I mainly use trendline/support resistance/EMA.
I’ve never been good with fundamental, hence why I ask. But I do want to learn. I am going to use the school here at baby pips. Is there other recommendations as well?
With proper money management and cutting out emotions, I feel I can be constantly profitable with just technical analysis. (Currently trading a demo account to test that theory)
But I’d like to learn fundamental as I feel that will be the big impact for me, mixing with technical.
I figure that if any FA has an impact on price I will see it in the chart. Whatever the specific cause, price will either be seen to start rising or start falling, or stop rising or stop falling.
If any FA does not impact on price, then why would I need to know it?
However, I am more conscious of correlations and its usually agreed these are driven by FA.
That’s very true, fundamental analysis have very long time to learn unlike of all others and it really do make it hard to research it all with needed explanations and so on. Please do explain all that to your broker and he may also provide you some help.
By all means, use fundamental analysis. After all, the big banks do.
They hire hire CPA’s, bank executives, attorney’s, economists, accountants, risk managers and even doctors to try and figure out why the economy is doing what it is doing. If you feel you have the combined experience of all these people, then by all means, use fundamental analysis in your own trading. But if you feel you may come up a little short, don’t feel bad. Even with all these people working on the fundamentals, they only get it right about 50% of the time.
In a nutshell, it doesn’t matter why price moves the way it does. Your job as a trader is to ride along with the trends and take profits along the way. You do that by learning how to read price charts without indicators. It takes hundreds of hours and lots of practice. But it is well worth it.
Using fundamental analysis is an absolute waste of your precious time. By the time you’ve figured out why the market is doing what it’s doing, it’s reversed direction!