What is better technical anylisis or forex news trading?

[lorengreenfx]

Hi Everyone!

Please help me to choose what type of trading is better?
I cannot decide to trade technical analysis method or Forex news method?
I'm new in Forex and any help will be helpful.

 

[CapitalVia]

well you must try to take recommendations for an agency

 

[Easy Trader]

Take the next 4 months and forward test them both on different demo accounts with the same broker

 

[lorengreenfx]

Thank you for the quick answers. Yes I have demo account by 2 months now. At the moment I'm trying with news trading and the same time I started to take lessons for technical analysis

 

[Fxpipper]

Well, would suggest news trading later on, after you get more experience ..but glad you are looking into technical analysis. Trading on just news is a bit tricky which is why you need a good grounding on technical trading as well.

 

[edwardtomm7]

The First thing is to perform general investigation about the stock market overall. Is the market trend for stocks to increase or drop in value.
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[lorengreenfx]

My account now is profitable. I trade with news now I know it is a bit risky to trade with news but now I started technical analysis and I hope it will help me in the future.
The best school is the forum I guess

 

[Fxpipper]

Yup! You can get all the info right here and check out Baby pips as well. And yeah, trading solely on the news is very tricky..let us know how the tech analysis is working out for you.

 

[lancy123]

At the beginning i wish to upload the pdf file. It wrote about thing to avoid in forex trading. But the file is too big, so can't be shared at here. Hope this is useful for you.

 

[okon2much]

Sometimes, your success of using technical analysis can be affected by news or fundamental analysis. So, you have to be use both strategy to your advantage. I can't say anyone is better because they both can work together to make you profit.

 

[mohmed-tarek]

the technical analysis its the best way we cantake

 

[lorengreenfx]

You all being very helpful. I'm trading with Forex Broker Inc and they provide very good service for me. I hope I will not change my mind after some time. Unfortunately not many brokers offering similar service to US clients.

 

[Rambo35]

I would stay away from news trading, but that does not mean it is bad. I think traders should do what allows them to comfortably generate profits.

 

[ituglobal]

None is better, and the combination of both is great. But as you gain more and more experience in the markets, you'll tend to move more with technical analysis - for you can't know what effect some news would have. Bad news may fail to drag prices down.

 

[Rambo35]

None is better, and the combination of both is great. But as you gain more and more experience in the markets, you'll tend to move more with technical analysis - for you can't know what effect some news would have. Bad news may fail to drag prices down.

Your statement makes no sense. The more experience you get the more knowledge you acquire may improve your news trading if that is what you prefer and not the other way around.

 

[lorengreenfx]

I still think that trading with news is the best option. Please write something more about it I need your opinion and help

 

[Rambo35]

I still think that trading with news is the best option. Please write something more about it I need your opinion and help

So you made a judgement call without having the proper knowledge about it? I think news trading is terrible advice especially for new traders like yourself.

 

[Fxpipper]

I second Rambo's advice..as a new trader you are better off with technical analysis and trading rather than trading on the basis of global cues, news, etc.
But since you have already made up your mind, good luck and keep us posted.

 

[eyeball]

As has been alluded to here but not directly mentioned you need both diciplines ,news and techs to achieve a level of consistent profitability. Tech is the road map that points out the route to realize the fundamental end point that those fundamentals are suggesting.Without techs to lead the way you can get easily sidetracked into profitless and losing deadends on the way to the realization of longer term fundamental goals. For example: If you asked me how to drive from NYC to LA and I responded--"Just keep going west ,you'll get there eventually"-Not much help But if I gave you detailed directions as available on Google maps you'd save agreat deal of time and gas money getting there.Thats about the same as trying to trade fundamentals or news without the map of techs to get you to the end point.

 

[Rambo35]

As I said so many times before, in the end it depends on the individual. Some will use technical, some fundamental, some trade naked or PA only. There are many ways to generate profits and as long as traders achieve the results they want no strategy or approach is wrong.