Turkish Lira on the spot now. Will it spreading to other current news currently!? We'll watch out.
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Obviously it is a big blow to the Turkish economy.
They have tried to introduce measures to counteract this effect.
Also I read that they are going to release a pastor.
Euro has recovered somewhat-
Also ES is up and sold the zb -easy trades
Realize this is all hindsight
Anyway I am meant to be on holiday....
Will Trump reduce the tarriff ?- that will give it a boost
I don't think one man has ever had such an effect on foreign currencies as DT
I have covered this in this thread
For cash rate meetings - I do a lot of research (speeches/previous statements/economic results/geopolitical considerations)
For CPI etc...you have to remember the market will only move if there is a miss or a beat against estimates.
Also quite often there will be a number of releases at the same time that can cause spikes in differing directions
For CPI etc...if there is a large miss/beat and it is something that traders are looking at, you could wait for the first pullback and then get in
Also at the start of a new session there is sometimes a full back - so that London or NY traders get on (Aussie/NZ)
Some of the Aussie/UK/Canadian figures can be quite good
If you are going to really trade I would concentrate on getting a full understanding on how the market works,
Most traders discount the need to focus on the psychological aspects of trading. This dismissive attitude stems from an underestimating of the difficulty involved in trading consistently. Apart from money management, the mental aspect plays the most critical part of trading success or failure. In other competitive fields such as tennis, hockey, and football, top athletes use visualization as the key to being prepared in advance of a practice or game. What I believe is a problem in many visualization techniques is the emphasis on developing detail during visualization exercises. Although this may be part of a method in developing useful visualization, I believe there is a more important aspect to visualization. Forex and visualization go hand in hand in the sense that forex trading leads to losses that result in the sense of failure. By practicing imagery, you can change this feeling of loss to one of optimism by bringing to mind the experience of successful trades and trading techniques. This practice can reinvigorate you and create a new sense of purpose and drive.
Meditation for Traders: Evidence for Numbing the Effects of Fear and Greed
By the very fact we’re playing the market we enter a trade with the confident expectation to win. However, because of the random outcome of many news events, we begin with a sense of uncertainty. These two factors, positive expectation, and risk of events lead to a feeling of mild excitement which is the result of dopamine released in your brain. Cocaine, opiates, and nicotine activate the release of dopamine as well. This release is one of the reasons we find ourselves fixated with a forex chart after we’ve entered a trade. Dopamine is conducive to overtrading, risking too much, entering low probability trades. It’s related to what we call greed.
I am setting up this thread mainly because there is no thread here where people can post there views on fundamental analysis. The aim here is to combine it with research and some tech analysis (pivots) Fundamental analysis is a lot simpler than people make out The things to look out for are: a) Central bank statements- particularly the tone is really important and what are they looking at to influence interest rates (CPI,employment) b) Geopolitical news- this can be heads of state speeches- these really influence the market Some people think that...
Got to admit there is so much nonsense written on FF- is it any wonder 80% of retail traders lose
They must all read some of the utter rubbish posted on these some of the threads on FF
I give up seriously - the tosh I have read on them- is an absolute total joke
I think they must just make it up and people lap it up
There was one thread talking about accumulation - one of the most popular ones - what a load of nonsense
And another one talking about ignoring correlations as the markets are all separate- what a load of utter crap
Try getting a job at Goldmans with that line.
I have been trading for some years, but only technicals. I traded demo until Nov of last year because I was finally being able to make stable profits. So far I am doing fine but I am not as profitable as I would like, or as my demo trading.
I started to have the feeling that I didnt really know what I was doing even tho my technical analysis is very solid... So I thought I should start learning some Fundamentals to try to enhance my trading.
I want to thank you for starting this thread. I just started reading it a few days ago and there is A LOT of useful information and I hope to be smart enough to learn everything right. Economics is not my strengh and neither the language helps since I am from Argentina, but I will try my best!!
Got to admit there is so much nonsense written on FF- is it any wonder 80% of retail traders lose They must all read some of the utter rubbish posted on these some of the threads on FF I give up seriously - the tosh I have read on them- is an absolute total joke I think they must just make it up and people lap it up There was one thread talking about accumulation - one of the most popular ones - what a load of nonsense And another one talking about ignoring correlations as the markets are all separate- what a load of utter crap Try getting a job...
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Some of the most popular threads on here are shocking and getting into a debate with them,i have found, is mostly a complete and utter waste of time. There is a thread on this forum claiming 98 percent hit rate. I have never seen or heard any professional achieve that in 2 decades in this business but hey, all you need apparently is indicators and thousands of hours of screen time to learn price action.
The way that one chap described institutional accumulation was totally incorrect- that is what started it (not prepared to say how I know).
And when another thread owner with a red label, said the markets are all separate - that was it
I have expressed my opinion on some threads and was sworn at by one individual who said fundamentals were..... useless.
Funnily enough that person lost 95% of their account some 3 months later.
The way that one chap described institutional accumulation was totally incorrect- that is what started it (not prepared to say how I know). And when another thread owner with a red label, said the markets are all separate - that was it I have expressed my opinion on some threads and was sworn at by one individual who said fundamentals were..... useless. Funnily enough that person lost 95% of their account some 3 months later.
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I have much the same experience. Just the other day one was telling me a move in the market had nothing to do with the news that moved price but was instead a head and shoulders pattern. The shit is so widespread and spoken about with a deep belief. I see very few posts around that have a semblance of quality. Makes me wonder what the hell am i doing here.
This is actually a good thread, mostly member here actually looking for technical analysis than fundamental.
@Fader123 can you list out what news/data to pay attention to the situation of a country. What I am looking for is I want to know where the price is going for some period, bullish/bearish after release some news/data.
I am trying new ideas out to help on the psychological side of trading. Since meditation increases brain waves in the Gamma region I'm trying to try different methods to help increase this type of brain pattern. Here is one such attempt:
I've combined price action with the fundamentals and sentiment on a regular basis. Price action trading for me starts with first knowing the proper price action patterns to search for on the charts. That’s why I’ve introduced the day trading strategies using price action patterns PDF. In it, you’ll discover one of the most profitable chart patterns you can look at daily for different currency pairs. Price action alone is insufficient, so I’ll introduce other confluences that help you determine a high probability setup to enter a trade.
