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Thread: knowing your forex fundamentals

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    Default knowing your forex fundamentals

    while technical analysis is critical to currency trading especially for pinpointing entries and exists. it is insufficient on its own for creating a comprehensive trading game plan. market sentiment in FX is driven primarily by the economic and and geopolitical news of the day. the key players in the currency market - fortune 500 multinationals, the world's central banks multi billion-dollar hedge funds and the top tier investment banks that service them-do not care if there is a double top in the EUR/JPY on the hourly candles. instead, they formulate their trades by analyzing the most recent economic news and geopolitical developments, as well as the latest pronouncements from G-7 monetary authorities there4, the proper approach to FX trading can be summarized ad follows.
    see you next time.sm_win sm_win

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    Default

    You can use EA for technical analysis that can make pinpoint entries and exists without help of any manual calculation. It also make you free form the tentions related to forex day trading.

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    Bullish haymus's Avatar
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    Default

    well said market doesnt pay attention to chart patterns but it does pay some attention to some key resistance and support.

    well said that the big players of the game pay attention to key announcement but how many people ( day traders ) can afford a long term trade with a sl around 100 - 200 pips,

    now i realise that some so call news trader even still have a way of coming back to use technicals like hedging and using pending orders.

    above all as my friend p bain will say we are traders and not economist why dont you let them play their part and we do ours.

    above all use what suit you best never change your tradding plan if that is what works for you.

    enjoy

    the goal is to make money make more

    have a pipsfull week

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    Bullish haymus's Avatar
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    Default

    hmm

    well said that the market does play attention to chart patterns yeah cause of some key announcement and geopolitical event .

    well said that this stuff moves the market majorly as they all hang on interest rate of a nation.

    well said that the big player of this games use this as reveal by COT but we muct consider the fact that the market respect no chart pattern but pay attention to some key resistance to key support and resistance. we must also note that this big playes(BiG DoGs) are long term traders which can afford big stop losses and that makes to ask that how many of us day traders can afford a stop loss of 100 - 200 pips?

    even the so call news trader i found that at the end they come back to use tech as the will use the likes of pending order,hedging e.t.c

    what of when we have a revision in the announcement and you dont have a very good EA to do this for you?

    well for me we are traders and not economist as my friend p bain will say.

    BUT ABOVE ALL USE WHAT WORKS FOR YOU DONT CHANGE IT. if you are a good fundamentalist stick to it and if other stick to it .

    enjoy

    wishing all a pipsfull week sm_smile

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    Default

    looks like today is news day!
    Euor/usd hammered down
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    Default

    i usually count on EA for my day analysis but there is also other good analyzing sites
    baby Ahmed Mahmoud

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    Default

    for analysis i use forex killer 2008 it really raises your chances

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    I think we should follow a mixture of both fundamental and technical analysis and enter positions accordingly. I'm only a small trader so i relay on short term trends for accuring my daily pips, there is no scope for me to go for too much fundamentals coz i dont have that much to fund my trading account.

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    Default

    i use special system called pinbar 2009
    i cannot describe it now be cause i am still testing it

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