Learn Forex By Avoiding Mistakes Other Make
So you want to learn forex? Well, that means you have to make an important decision. You have to choose what kind of analysis you are going to use. You can either decide on technical analysis or fundamental analysis.
I'm sure you can find a few traders who are equally great in both categories but for the most part, traders usually stick to only one form of analysis as their MO.
However, there are still plenty of forex traders who decide not to choose either of the methods. This sounds completely irrational but most would rather trade from the gut than really study how to trade market properly, so you can enjoy long term success in it.
You may laugh, but there are many traders who dont really grasp just some of the basic fundamentals that come with news events. To give you an example, there are many traders who couldnt even tell you the significance of NFP numbers or unemployment numbers. Its sad but true.
There are a ton of traders who still don't know if a rise or fall in interest rates is good or bad for the value of their currency.
What makes this even worse is the fact that many traders never really learn about the trading the forex market from a technical perspective. To some of these traders, the entire idea of using technical analysis is to put every single indicator on your chart, and somehow hope that your indicators are pointing you in the right direction.
The honest truth is that the vast majority of indicators will not ever provide any kind of proper technical analysis. The big reason for this is because they are inherently lagging. If you want to know what has already happened, then they are pretty good. But if you want to know what will happen, it doesnt provide much help.
If you are really serious about learning to use technical analysis, then I strongly encourage you completely get rid of your indicators start learning about price action. - 23217
I'm sure you can find a few traders who are equally great in both categories but for the most part, traders usually stick to only one form of analysis as their MO.
However, there are still plenty of forex traders who decide not to choose either of the methods. This sounds completely irrational but most would rather trade from the gut than really study how to trade market properly, so you can enjoy long term success in it.
You may laugh, but there are many traders who dont really grasp just some of the basic fundamentals that come with news events. To give you an example, there are many traders who couldnt even tell you the significance of NFP numbers or unemployment numbers. Its sad but true.
There are a ton of traders who still don't know if a rise or fall in interest rates is good or bad for the value of their currency.
What makes this even worse is the fact that many traders never really learn about the trading the forex market from a technical perspective. To some of these traders, the entire idea of using technical analysis is to put every single indicator on your chart, and somehow hope that your indicators are pointing you in the right direction.
The honest truth is that the vast majority of indicators will not ever provide any kind of proper technical analysis. The big reason for this is because they are inherently lagging. If you want to know what has already happened, then they are pretty good. But if you want to know what will happen, it doesnt provide much help.
If you are really serious about learning to use technical analysis, then I strongly encourage you completely get rid of your indicators start learning about price action. - 23217
About the Author:
To learn forex trading, make sure to check out this website on trading with the trend.
posted by X - Men @ 12:09 AM
0 Comments
0 Comments:
Post a Comment
Subscribe to Post Comments [Atom]
<< Home