The MOST profitable Forex strategy? *BONUS: SPECIAL GIVEAWAY*

ever heard the term technical or fundamental trading do you even know what the difference is even more important is one approach more profitable than the other now I’m going to discuss this however be sure to stick around, because at the end of the video there’s going to be a giveaway that I’m sure you’re going to be want to be part of let’s explain what the terms mean and, then I’ll tell you how a typical day trading looks like for me I’ll invite you into my world to show you how I attack the market okay, so what is a fundamental analysis fundamental analysis for a Forex trader basically means he’s looking at the general state of a particular country’s economic standing and he’ll pitch this against another country’s economic standing and hopefully determine which currencies he should be buying over which countries currencies he should be selling now the biggest determining factor of a country’s currency strength is the local interest rates now central banks around the world set the country’s interest rates to control typically inflation now in doing, so they monitor the state of the country’s economic health by assessing key data such as retail sales employment producer prices and, so forth now a country’s economic health is gauged by its currency value and the fundamental forex trader will put all this information together and make a decision on which countries have a strong currency and which countries have a weak currency now generally speaking a fundamental forex trader will be trading a longer time frame his predictions are more likely to play out over a sustained period of time let me give you an example of what a fundamental trader could look like and something you might be more familiar with say the stock market now the largest company in the world is Apple now a fundamental trader the wants to trade Apple shares for example may look at the company’s product what’s the new iPhone 10 like for example they look at the sales numbers around the world how many iPhones are being sold in China or how many iPhones are sold in India are they buying the iPhone in preference to the competitor Samsung or whatever it is they’ll look at the cash flow of a particular company and the earnings now and potential earnings for the future, then the fundamental trader will make a judgment by putting all this information together on whether he should be buying shares an apple or not he’s looking at the big picture, so should shares and that will be bought or sold that’s based on the big oval picture of the company now on the other hand a technical trader will look at previous price action of a currency or a stock or indeed whatever trading entity and use this previous price action to help predict where prices may go in the future a technical trader believes in essence that human nature has a tendency to repeat itself and in order to do this a technical trader will look at a price chart being a candlestick chart a bar chart or a line chart I traded the trade purely technical analysis believes that all the information about a particular trading entity is reflected in the price and therefore on the charts, so no need to look at the fundamentals or indeed be interest in them at all now traders that use technical analysis typically use various tools in their analysis and these are known as indicators the most commonly used indicators are the basic support and resistance lines, then then you have the moving averages and, then you have the other indicators that basically derive from the moving average like the MACD and the CCI and, then you’ve got the various oscillators that tell you supposedly, if price is overbought or oversold now I’m not going to go into all the pros and cons of all the different indicators out there that’s a whole basic course in itself, but it’s fair to say the choice is vast, so it’s trading technical its technical trading more profitable than fundamental trading nope there’s no proving either way instead it’s about how you use both practices in your trading to make profitable trading decisions let me tell you now how I trade and that’s by using a combination of both methods I typically wake up in the morning make myself a coffee and get to my trading screens an hour or, so before the European session starts, so what I do I go to all the news feeds and look to see, if there’s been any fundamental news overnight such as economic data releases central banks speakers or world that’s pretty market sensitive I’ll, then go to my charts and look at price action basically look at what’s happened to price overnight see what price has been doing in the past now I’ll, then use some technical analysis to help me predict where prices may go in the hours ahead now I’ve improved I have a predetermined set of trading rules that give me entry and exit signals based on recent price action, so I’m predominately using technical analysis why well personally for me it takes to all the ambiguity out of the market I need structure to keep me focused just the way I’m built I need to be able to see, if this does this or that does that, then I will do this now I need to defined set of rules to keep me on track for me relying purely on the fundamentals isn’t precise enough for me to act on, but certainly a very important overlay in my trading I believe that as a trader you can be successful both as a technical trader as much as you can a fundamental trader, but you should certainly should have an understanding of both for example knowing that key fundamental economic news is due for release that release could have a major impact on prices this could cost you a lot of money and cause you a lot of heartache, so you need to be aware of that I mean think about it for a moment, if your day trader and you’re trading off the 15-minute that one hour or the 4-hour chart or, so and you’re entering a trade just ahead of an important interest rate decision yeah that’s basically like playing Russian roulette with your trading account Madness, if your fundamental trader knowing where key support and resistance levels is is again, so important, so the best way I think to approach the market is using a combination of both a technical trader should have an understanding of fundamentals and a fundamental trader should have the basic understanding of technical now I’m outlining board strokes here, but I’m hoping you’re getting my drift guys I’ve been overwhelmed by some of the great comments you’ve left me here on the videos that I’ve Publishing I do try to respond to as many as I can, so I mean haven’t responded to you yet keep watching I’m sure I’ll get back to you, but there’s a special big thank you, I want to do something quite unique here I’m going to give away three annual passes to our trading room here at photo signals calm now inside the trading room you can watch me trade the markets live and also sing your teeth into the pacific strategies that i use throughout the trading day I’ve also published hours of content in there as well, so there’s a lot to get involved with now, if you’d like a chance to win all you have to do is the four things below sounds a bit of a challenge i know, but i assure you it is all pretty simple stuff first thing you got to do is give me a thumbs up, if you enjoyed the video in fact, if you give me a thumbs down, if you haven’t enjoyed the video that’s fine as well I won’t disqualify you from the competition that’s your call second thing you need to do subscribe to the channel, if you haven’t already done, so and the third thing leave a comment with hash tag folks and the fourth thing is to share this video with at least one of your friends colleagues or indie family I’ll announce the three winners here on video that I publish on the 16th of November, so in the meantime happy trading and best of luck.

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