{This was originaly message to a frend. but meaby someone can take something out of it.}
PAGE 1
Hello there!
That is very hard question. as it attends on personality of trader. somone enjoys. reading happenings of economic evets and politics. to create "big" picture and creates desisions reflected to thos fundamentals. (old school style)
As -70. came Technical analysis more popular as allso development of computers created whole new perspective to observe market conditions.
as i am not professional trader, and not make my living out of it. so i can not say from pure knowlegde that what is the real key.
but considering that its very good starting point to learn the graphical way of analysing the market conditions (Tehnical analysis) as meany of us home traders. dont have all the nessery knowledge of how deep fundamental analysis actualy is. Personaly dont consider looking only Dayly Economis news and the resoults as fundamentals. Fundamental analysis goes way beound that. what takes deep research(as technical).
goodway is to find people who share same view of market tru the fundamentals and look how they combine diffent economic evets and politic happenings.
For me as considering my self tehnical analysis. Looking market data 98% of my time spended on forex.
Eather way. to get knowledge form tehnical analysis is recommended eaven if studying most of the time fundamentals.
Leaning Resistance,Support levels is very key to observe the market conditions.
When there is no pinpoint to look next. then its hard to think possibility what might occure next. If having allways various solutions what might happen next gives more relaxed state of observation as you have some levels where market might go. and only need to wait and observe how market behaves. and when matket reach one of thos possibilitys thinked. that conclusion was correct. so that point can be you desired place to buy or see. depeding how had planed. what might be the next outcome.
so the basic is to not to make major plan how market behaves. more haveing some various plants in you mind and then to wait if the market gets there. and then when it does. its possible to try your plan (SELL OR BUY)
very important is to observe diffrent time lines. As you observe themarket behavour from distance . can see the "bigger" picture what might be the outcome of the market. and when zooming more closer can observe how that major plan is broken is small events. and thos evets will create the outcome of the "big" picture
to take market as One moment at time and to observe. will the market confim that movement. If not, then there shoud be allways another plan in hand. Keep in mind to have various plans in BOTH direction of the market. will not leave the trader crying away if the plan failed. just Jump out of the trade what failed and toobserve the next confirmation in the opposite direction.
Thos confirmations. can be made more easy to mind handel by creating. Support,Resistanse Levels.
There is allways some level Below and Top of the market movement. as there is allways another Support,Resistanse.
PAGE 1
Hello there!
That is very hard question. as it attends on personality of trader. somone enjoys. reading happenings of economic evets and politics. to create "big" picture and creates desisions reflected to thos fundamentals. (old school style)
As -70. came Technical analysis more popular as allso development of computers created whole new perspective to observe market conditions.
as i am not professional trader, and not make my living out of it. so i can not say from pure knowlegde that what is the real key.
but considering that its very good starting point to learn the graphical way of analysing the market conditions (Tehnical analysis) as meany of us home traders. dont have all the nessery knowledge of how deep fundamental analysis actualy is. Personaly dont consider looking only Dayly Economis news and the resoults as fundamentals. Fundamental analysis goes way beound that. what takes deep research(as technical).
goodway is to find people who share same view of market tru the fundamentals and look how they combine diffent economic evets and politic happenings.
For me as considering my self tehnical analysis. Looking market data 98% of my time spended on forex.
Eather way. to get knowledge form tehnical analysis is recommended eaven if studying most of the time fundamentals.
Leaning Resistance,Support levels is very key to observe the market conditions.
When there is no pinpoint to look next. then its hard to think possibility what might occure next. If having allways various solutions what might happen next gives more relaxed state of observation as you have some levels where market might go. and only need to wait and observe how market behaves. and when matket reach one of thos possibilitys thinked. that conclusion was correct. so that point can be you desired place to buy or see. depeding how had planed. what might be the next outcome.
so the basic is to not to make major plan how market behaves. more haveing some various plants in you mind and then to wait if the market gets there. and then when it does. its possible to try your plan (SELL OR BUY)
very important is to observe diffrent time lines. As you observe themarket behavour from distance . can see the "bigger" picture what might be the outcome of the market. and when zooming more closer can observe how that major plan is broken is small events. and thos evets will create the outcome of the "big" picture
to take market as One moment at time and to observe. will the market confim that movement. If not, then there shoud be allways another plan in hand. Keep in mind to have various plans in BOTH direction of the market. will not leave the trader crying away if the plan failed. just Jump out of the trade what failed and toobserve the next confirmation in the opposite direction.
Thos confirmations. can be made more easy to mind handel by creating. Support,Resistanse Levels.
There is allways some level Below and Top of the market movement. as there is allways another Support,Resistanse.