The title basically says it all. I do believe that it is very possible to trade profitably fundamentally in forex. Why do I want to do it? Because it makes sense for me. I'm sure there are people who trade technically and making profits but when trying to do so myself, I never feel comfortable when trading based on TA solely. For me, it feels like sci-fi. Also, when there is any significant move in the market, there is always because of some fundamental news behind it and everything starts and ends because of the real data of economy. And never because of particular candle, fibonacci level, S/R or some indicator for that matter. The last one (indicators) make even less sense for me and IMO are utterly flawed. I mean 99.99% EA's and robots are based on indicators but none of them are profitable in the long term. Maybe there are very few but they are not available to retail trader.
Now the problem is, I have no idea where to start the learning process. A handful of people told me that although it is very possible to trade fundamentally, it's a hell of task to learn it. One guy told me that you need a strong economic background to do so. I don't believe it. I mean I'm sure it would help but I would like to learn the specific principles of economy that would help in forex, not try to learn the whole economy science.
And I'm not talking about trading or scalping the news events. I'm talking about position or swing trading based on FA. Maybe swing and not position because I wouldn't feel comfortable keeping positions months. Not in my type of character.
Anyone have any suggestions where could I start? I have very little knowledge about it.
What I would like, is to find a source where all the necessary info would be in one place, starting from very basics and moving up in difficulty. Levels I mean. Like in school or university. Some of you will say there is plenty of info on internet regarding this matter. I'll say, yes there is but it will be extremely difficult to learn fundamentals when the info is all over scattered the internet and in the end, it will just confuse me even more and won't help much when it comes to trading.
Is there maybe a book specifically about fundamental analysis you can recommend? Some fundamental guru trader I could follow online and maybe try to learn from him? Or maybe some big ass near a book size online article that would give me some basics and put me on the right track?
If anyone here is a hardcore fundamental trader, I would love to hear from him. How did he start, where did he learn, does it generate profits etc.
Any tips, suggestions will be highly appreciated.
Now the problem is, I have no idea where to start the learning process. A handful of people told me that although it is very possible to trade fundamentally, it's a hell of task to learn it. One guy told me that you need a strong economic background to do so. I don't believe it. I mean I'm sure it would help but I would like to learn the specific principles of economy that would help in forex, not try to learn the whole economy science.
And I'm not talking about trading or scalping the news events. I'm talking about position or swing trading based on FA. Maybe swing and not position because I wouldn't feel comfortable keeping positions months. Not in my type of character.
Anyone have any suggestions where could I start? I have very little knowledge about it.
What I would like, is to find a source where all the necessary info would be in one place, starting from very basics and moving up in difficulty. Levels I mean. Like in school or university. Some of you will say there is plenty of info on internet regarding this matter. I'll say, yes there is but it will be extremely difficult to learn fundamentals when the info is all over scattered the internet and in the end, it will just confuse me even more and won't help much when it comes to trading.
Is there maybe a book specifically about fundamental analysis you can recommend? Some fundamental guru trader I could follow online and maybe try to learn from him? Or maybe some big ass near a book size online article that would give me some basics and put me on the right track?
If anyone here is a hardcore fundamental trader, I would love to hear from him. How did he start, where did he learn, does it generate profits etc.
Any tips, suggestions will be highly appreciated.