We know that market goes on fundamental analysis. it depends on total economic condition of a country. it reflects total economical conditions of a country.
About fundamental analysis
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Embrace the light side until it's not too late!
Start using technical analysis instead of news trading and you'll see the world of trading without requotes and slippages. No, seriously, I don't know who can use FA for making constant and stable profit in long term.
You don't need fundies to be a successful trader. TA is the only thing you will ever need. Learn how to read a chart, if you want to make money in this business.
Bg picture the markets for currencies is driven by fundamental consideratons--technical analysis is the roadmap that indicates how and when those fundamentals will be realized--you can trade techs alone successfuly (shorter terms) and never worry about fundamentals except at news release time-you can't trade on fundamentals alone unless you have very deep pockets and and a strong stomach--EB
Yes, you are absolutely right. You more you analyse the market the more you would enrich your knowledge about Forex market!
I think a combination of both is ideal. Technicals can be used to confirm or refute the signals generated by Fundamentals. And it's a common misconception that fundamental traders only trade news events. This is not true, fundamental analysis can be employed in stock trading, as well as getting a wider grasp of market sentiment. The quants don't like it 'cause it can seem a bit vague and unscientific, but it works, and it's no more witchcraft that using historical price action to predict the future.
UNITE PEOPLE! UNITE!
UNITE PEOPLE! UNITE!
Embrace the light side until it's not too late!
I think this is true especially for newbies, as it will be more easier to trade using that!
from beginners point of view fundamental analysis should be done first for at least basic idea about trading and then of course technical analysis.
Fundamental analysis is the examination of the underlying forces that affect the well being of the economy, industry groups and companies. At the company level, fundamental analysis may involve examination of financial data, management, business concept and competition. At the industry level, there might be an examination of supply and demand forces for the products offered.
I think in Forex market,Fundamental analysis is very important.It is one type of analysis of economic,social,& political situations of a country. While trading,you have to determine which country's economy is rocking and whose economy sucks.We can analyze that the better shape of a country's economy is the more foreign business & investors in that country.So,by following this analysis a trader can trade on the currency pair of well economical conditioned countries.
Janet Yellen will take an important step on Thursday toward becoming the first woman to lead the US Federal Reserve, with the Senate Banking Committee expected to back the nomination and clear her path to take the central bank's helm.
Fundamental analysis has to do with studying the economic situation of a country to trade currencies.When it comes to fundamental analysis traders pay attention to economic indicator which can have a direct effect on the value of a nations currency and exchange rates. Though fundamental analysis is mostly used by experience trader in the market.
I have an economic calendar bookmarked on my phone. but I've thought about twitter like
https://twitter.com/AlertFX_Econ
so I could get an alert.
https://twitter.com/AlertFX_Econ
so I could get an alert.
Fundamentals vs. Technicals
Fundamentals are what drives the market, technical analysis provides the direction and timing. You can trade profitably on technical analysis alone, or you can go broke trading on fundamentals alone.The best strategies employ both dicsiplines in a somewhat coordinated trading plan that varies according to the traders preferences and ablities
Fundamentals are what drives the market, technical analysis provides the direction and timing. You can trade profitably on technical analysis alone, or you can go broke trading on fundamentals alone.The best strategies employ both dicsiplines in a somewhat coordinated trading plan that varies according to the traders preferences and ablities
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