I want to be a fundamental trader

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.

Dual, fundamental trading requires time and experience. Unlike technical analysis, you will hardly find any patterns in fundamental side of trading. and most the time, every event happens for a different reason at a different time and will likely give you a different outcome.

For example, currently USD is in question on how many hikes will be there this year, and how many more in 2017. as for EUR, its QE ends in March next year, what is ECB is going to do about it? on GBP side, the post-Brexit time and May's next move. These aren't the new issues, but they will sure bring out new challenges and uncertainties int the play. If you like to learn how to trade fundamentally, you will eventually learn these events and make your prediction or educational guess.

I have a fundamental trading thread opened under the Active Trading section, feel free to visit and have chat with me there.
http://www.forexfactory.com/showthre...40#post9203040

for making fundamental trader you need to thane knowledge, experience ,patience and confidence.

Wow. That really helped. I would have never realized that you need knowledge, experience and patience to succeed at anything. You know what? This was the most informative post I've ever seen. I already feel the knowledge of FA overcoming my whole body, mind and soul. Thank you good sir so much for this extremely detailed and informative post. You saved me years of struggle.

Yeah it's possible, it's not even as hard as most people seem to think it is. The two biggest drivers of a currency's value are central bank direction (longer term) and current risk sentiment (shorter/medium term). Learn those two things, learn them well, and buy or sell a currency only when they both turn in the same direction.

Timing is a big part of FA ..... by that I mean syncing your trade timing with the markets timing. Most people make the mistake of using a shorter term trading strategy with longer term fundies, or longer term trading strategy with shorter term fundies. Reading central bank sentiment is pointless if you are keeping trades open for a few hours, watching intraday news releases is pointless if you are swing trading.

The "Piponomics" blog at Babypips is an excellent place to start, get into the habit of reading it every day:
http://www.babypips.com/blogs/piponomics

Bloomberg currency news
http://www.bloomberg.com/topics/currency


Fundamentals is by far the most important aspect of my own trading, I don't even look at charts until I understand the fundamental situation and know exactly what I want to see on the charts before I open them. I spend probably less than an hour a week looking at charts - the rest of my time is studying fundamentals. It can generate profits but not consistently .... sometimes I have several losing or breakeven months in a row, you need to be very patient and keep the long term in the front of your mind all the time, if that makes sense.

I started this thread a while back which describes my own trading style:
http://www.forexfactory.com/showthread.php?t=587512


Good Luck

fundamental is not driving force for market..it is only fuel

I like this one, too:

http://www.forexfactory.com/showthread.php?t=572517

http://inflateyourmind.com/
Micro and macro economics

https://en.wikipedia.org/wiki/Financial_market
gold - bond - stock - currency relationship

when the amount is sufficient, the substance will change.
failure is when you give up.

My advice: separate yourself from trade. Stand outside watching.
Sometimes, I sit alone and do nothing but close my eyes. I always think about the macro economy ... then a lot of ideas have occurred.

Financial markets are neutral, news is neutral. the same news, a fact but each person will have different views, some people say good, some people speak ill.
the market is not against anyone, the problem is that traders do not listen to the market, they refuse to learn the language of the market :->

You will learn the language of the market, you will understand what the market wants to say when you are watching and observing, there is no right or wrong definition, good or bad. Like a child, learn and have no preconceptions.

some books you should consult:
1/ alchemist
2/ trading in the zone

Forget one thing: elastic band connecting goods market, stock, bond, currency is: inflation.
focus on it.

You do realise this thread is from 2016

[quote = EcoTrader; 12343674] Bạn có nhận ra chủ đề này là từ năm 2016 [/ quote]

:-)) hahahahahahah

Let's be honest, so that you can get into the market you certainly need basic knowledge about what the market is and the basic methods of its analysis. Once you have determined what is right for you, for example, you have realized that fundamental analysis or scalping method trading is right for you. After that I would have already studied in more depth the strategy that suits you best. Besides classical trading canons, you should not forget about modern trends. And you should not be engaged in passive trading methods, you should pay more attention to studying and further practice. There is a lot of information on the Internet, so I will not recommend anything specific. I think you'll figure it out.