Your Go-To Analysis

Beginner Questions
1

Hi everyone!

It’s me again. :slight_smile: I’ve been going through the School of Pipsology and I finished the lesson on the types of analysis that traders use (you know, technical, fundamental, sentiment)

I know that the site suggests we use an interplay of all of these analyses. But, for a beginner like me, mastering all of these seems like such a daunting task. So, I plan to focus on 1 type, and then eventually start looking into the other two as well.

I just want to ask you guys if you have any particular go-to type of analysis. Why did you choose this? I’m asking just so that I more or less, I could gauge which type of analysis I could go with. I would greatly appreciate it! :smiley:

Also, everyone has been so kind and I want to thank you guys for your guidance (and patience)! :blush: :blush:

2

It is a daunting task but if you really want to learn how to trade the FX market, you should really know all three. :+1:

1 Like
3

@TradingPanda got this! :slight_smile: I really plan to study all three. Maybe I was just looking for a good type of analysis to start with. Still, thank you so much for the tip. :smile:

4

Does it really?

I hope it stresses that the extent to which each is relevant depends very much on the type of trading, and trade-durations, you’re using.

I never hold a position overnight.

Sentiment has zero relevance to me and I ignore it absolutely.

Fundamentals have very little relevance to me, and I get my “fundamental inputs” only from a couple of main news websites: if something isn’t reported there, it isn’t going to be relevant to me (unless it’s something absolutely huge and unexpected which I can’t do anything about anyway).

I concentrate about 99% on technicals, simply because that’s what relevant to me.

But people vary in this regard.

1 Like
5

That’s fine, and AS A NEWBIE you will study all 3 because you are new and you are really really excited to be here hehe.
i mean… Just look at how many smiley’s you use (i think i counted 6 ) LOL

Now… Take @LaughingCharlie for example, he doesn’t use Smiley’s
Neither do i… I may throw up the occassional :stuck_out_tongue: or \m/
but i must say that the forex industry has beaten the smiley’s and emoji’s out of me and charlie and others like us

i think a person’s experience in forex can TO SOME DEGREE be defined by how many emoji’s and Smiley’s are used in a comment HEHE

Now… Be Honest… You’re Just really really happy to be here, Aren’t you ? that’s sweet.

Now… Now that i’ve had my fun ok hehe

back to the point
As a newbie you are going to try all 3 types of analysis and as Charlie has already told you ,it will depend on a few things.

basically you are going to start learning all 3 because you’re overly excited

then you’re going to realize that some are not for you.
you will then settle on one of the following

Technicals Only
Fundamentals Only
Sentimental Only
Technicals and Fundamentals
Technicals and Sentimental
Fundamental and Sentimental

and i suggest that you don’t learn them all TO THE SAME DEGREE, because you’ll probably find that you’ll gravitate towards one main one and then you’ll consider the other 2 to some degree

Trading is like this

I will continue to monitor your posts and when you get to a level when you are posting no more than 1 Emoji or Smiley per post, we will Re assess your Jedi skills at that point in time

Until then, May the force be with you

PS : have you see EMOJI MOVIE
I’m betting you have hehe

1 Like
6

Mine is in my username, you could say?

1 Like
7

I’d take “technicals” every day, out of the ones you’ve mentioned. (And not bother much with the other two at all.)

2 Likes
8

Hi @LaughingCharlie!

Yeah. Well, I guess it’s the ideal thing to do for beginners like me. :slight_smile:

After reading the replies so far, I think I’m leaning more towards focusing on technical analysis. But of course, as much as possible, I’d also take the other two into consideration.

Thank you for your response and I hope I don’t irritate you with my smileys. HAHAHA :joy:

9

Hi @anon81929759! Hahahaha. :stuck_out_tongue:

I used 4, but close enough I guess. I’m very expressive so I really try to convey my emotions through mediated realities such as this. Haha. I hope my emojis don’t bother you much. I’d try to tone 'em down! :slight_smile:

And yep! It’s great interacting with experienced traders like you. I feel like a Luke in a community of Obi-Wans. Haha.[quote=“Martin_K, post:5, topic:127677”]
and i suggest that you don’t learn them all TO THE SAME DEGREE, because you’ll probably find that you’ll gravitate towards one main one and then you’ll consider the other 2 to some degree
[/quote]

I understand. As I’ve mentioned earlier in my reply to Charlie, I’m also leaning more towards Technicals. I’m gonna have to get used to all the charts etc. [quote=“Martin_K, post:5, topic:127677”]
I will continue to monitor your posts and when you get to a level when you are posting no more than 1 Emoji or Smiley per post, we will Re assess your Jedi skills at that point in time
[/quote]

HAHAHA now I feel so conscious about my emoji use. I think I’v only used 2 so far. How’s that?[quote=“Martin_K, post:5, topic:127677”]
PS : have you see EMOJI MOVIE
I’m betting you have hehe
[/quote]

Weirdly enough, I haven’t! But I’d check that out soon! :slight_smile:

Emoji Count: 3

10

Thanks for this Lukas! :slight_smile: I think I’d go with technical, as well. (At least for now. Haha.)

1 Like
11

hehe
well, no … Respectfully , my wife recently forced me to watch emoji movie, so i’ve been educated on different emoji’s

Your Username is a “Laugh” Not a "Smile " :stuck_out_tongue:

but … i’ll be honest… for a second there… you have me looking closely at the icon "the purple L"
and i’m like… what… where is the smiley
and then i’m like… Ohhhh … right… his name.
oh well, it’s 4 am … so… yeah hehe

but i think we can all agree that we don’t use 6 Laughs or Smiles in one comment because traders don’t show emotions HEHE

12

Hi @Raziel2017! :slight_smile: I just remembered reading on your introduction that you like trading and doing your analysis. I’d love to know which type of analysis you use the most and why? :slight_smile:

13

Hi Ria,

Well I used the technical analysis because I’m not very familiar with the financial news related to the fundamental. I advocate to use an analysis that you understand and simple to use. :sunglasses:

Hi @MartinK, I also saw the movie Emoticon, it was fun to see. Now that I have a child, I get use to watch animation movies, some of them are good actually.

I have a question for you by the way, do you use the core patterns (HHHL and LHLL) to enter a trades if yes what are your rules about it?:wink:

14

I am more of a fundamental trader (+ technical to some extent), but I agree with Martin_K that you should look at everything and then focus on the one that suits you best!

I did not use any emoji here, so I think it’s all good!

15

Agree. Right now, I’m actually looking into technical + fundamental since I had so much fun with the popular chart indicators lesson! Haha. :slight_smile: I’m still trying to learn more about it though. [quote=“Ameliver81, post:14, topic:127677”]
I am more of a fundamental trader (+ technical to some extent), but I agree with Martin_K that you should look at everything and then focus on the one that suits you best!
[/quote]

Me too! I’m leaning towards that combination. :slight_smile: Haha. What pairs do you usually trade? [quote=“Ameliver81, post:14, topic:127677”]
I did not use any emoji here, so I think it’s all good!
[/quote]

HAHAHA This was because he said I use too many emojis since I’m very excitable huhu. I hope you don’t mind me being like this lol

16

USD/EUR and USD/GBP.

I don’t mind when someones uses a lot of emojis, maybe that’s just your style! :slight_smile: (see I used an emoji too!)

2 Likes
17

Oh! I see. According to the school, majors are really the way to go for us beginners. :slight_smile: Btw, have you gone through the school already?[quote=“Ameliver81, post:16, topic:127677”]
I don’t mind when someones uses a lot of emojis, maybe that’s just your style! :slight_smile: (see I used an emoji too!)
[/quote]

Hahaha! :slight_smile: Thank you. This made me smile.

18

If price goes up. I go up. If price goes down. I go down…What more is there?

image.png1920×1080 134 KB

19

I started my trading in UK stocks. Many times I would read about the company, their recent strong results, their expansion, their take-over of another firm, their new outlets under construction, their new CEO, the genius new FD, a clever new product line. With a shareholder group, we even visited some and enjoyed analyst-level presentations from directors, and undertook guided tours of their plants / depots. So I would think, “Wow, this is a large, growing, dividend-paying company with strong patents and capable respected management. I must buy their shares, I wonder what price they are.”

Then I would find their shares were 350p, and they had been in the 300’s for 18 months. But 3 months before that they were 450, 3 months before that they were 550, 3 months before that they were 650, and once in the dim past they had lived in the 800’s.

So all the fundamental stuff I had learned meant sweet FA.

1 Like
20

That’s understandable! :smiley:

Maybe, identifying trends early, confirming trends, avoiding getting whipsawed, knowing where to put your stop losses and where to take profits? :slight_smile: Idk But I think there are a lot of things that come into play. At least, that’s what I’ve learned from the school. :smiley: