How to Learn to Trade the Forex Market – Where Most People Go Wrong

It’s obvious that many people want to find out how to learn to trade the forex market. If this is you, you are going to have to make a decision. Are you going to have to use technical analysis and fundamental analysis? Most good traders have a decent comprehension of at least one of them. If you don’t use one at least one of them, you are going to have a very difficult making a living in the forex market.

Sadly, most traders really don’t take the time to properly learn at least one form of analysis. We live in a time where traders prefer to trade based on what their gut feeling is telling them. That’s just simply not going to get it done.

Most traders don’t really have a clue about fundamental analysis. I’m not talking about being as knowledgeable as an economist or analyst. That would be unfair to make that comparison. But many traders don’t even know the basics, such as the importance of Non-farm payroll numbers, and how it affects currency price. You’ve got plenty of traders that don’t have any idea how interest rate decisions affect currency prices.

This really wouldn’t be that big of a deal if more traders understood technical analysis. When most traders think of technical analysis, they think that all they need to know is when their stochastics tell them to buy or sell. THIS IS NOT TECHNICAL ANALYSIS.

Stochastics or any other lagging indicator cannot give you any insight into technical analysis. All you need is your eyes and a simple bar chart.

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