Fundamental Analysis There are 2 basic methods of trading foreign currencies. The most common and widely promoted is technical analysis. There are hundreds of books and cources, software packages and alert services promissing some new insight or method to improve your ratio of wins to losses, or striving to improve the pips won versus the pips lost. Many new learning forex traders are seeking "the holy grail" with which to guarantee their success. Unfortunately, the holy grail is very elusive. Some signal systems seems to work for a while and then falls apart. If you want to be truly successful trading the FOREX market, you must learn to use your brain and develop a basic understanding of what moves currency markets. One of the best educational sources I have found, is a book by Thomas Yeomans, entitled "The Perfect Trader". In his book, or study course, he concentrates on the effect news has on the currency markets and how to interpret that news. He also ocassionally offers mentorship where traders can trade along with him as he does an analysis of the release of governement reports and their effect of currency pricing. Whether you decide to follow technical analysis or a more fundamental approach, this course is going to pay for itself many time over in real gains as you learn the impact that breaking news has on the currency markets. I cannot recommend this course highly enough. For more information click here. Unfortunately, this course and mentorship is only available when vacancies exist, so check out the site, put yourself of the waiting list, and then be patient. It will be worth your while. |