Integrating Forex fundamental analysis with market time patterns
When I took the leap and decided to not only trade technical analysis but incorporate fundamental analysis that took me to the next part of my learning curve which was 10 years 9 10 years after I started trading, which is to use fundamental analysis and develop those fundamental skills, now we have to be honest here, as a lot of you will lose interest now because I mentioned fundamental analysis which is sad, and I can also relate to the feelings you have because I haven’t been interested in fundamental analysis for nine years.
Integrating Forex fundamental analysis with market time patterns
In nine years of trading, I was purely technical and not interested in supporting fundamental analysis and resistance I am a price action trader I am a trader who uses technical analysis I was very stubborn and if I had been more prepared and more adaptable earlier I would have become a trader here a lot quicker but the thing is It takes you to know that it took nine years Medi’s results have made me humble in providing fundamental analysis.
Technical analysis has its part to play and I use technical analysis every day it’s a major part of my trading but it’s just a part so let’s move on to fundamental analysis and uh the learning curve there is okay fundamental analysis I honestly don’t remember why I decided to finally introduce what the process is Thinking that, I wish I kept some sort of journal but in 2021 it could have been maybe 2022.
But very early in 2022, I decided that I needed to start incorporating fundamental analysis into my trading, and good thing I did because as I said, it changed me from being a humble standard currency trader to someone I consider a professional.
How did you learn fundamental analysis?
Trader, how did I do it, do you know how I learned fundamental analysis before I got into these details, let me say this one of the reasons I stopped learning fundamental analysis for a long time is because I didn’t think I was smart enough to understand it.
You know, trying to listen to Bloomberg, I was like what are they talking about, trying to read the Financial Times, what’s written here doesn’t make any sense, so this feeling that I’m not smart enough to understand fundamental analysis and apply it, you know, is not I have a degree in economics, I was very afraid of fundamental analysis.
I honestly believe this is why most people don’t learn it but you can do it and it will change your trading and it will do more than that, it will help you understand the markets like no other, and it will make you feel good about yourself, you will feel the difference, you will feel more professional, you will More confident, it will have a huge positive impact on you. Your ability to control your business emotions.
The importance of teaching basic Forex analysis
That’s the thing that changed for me is suddenly I had a lot more confidence when it came to trading and holding trades longer, and the fundamental logic was more of a conviction for me mentally, intellectually, and emotionally than it was a technical reason, you need to learn fundamental analysis.
I can’t say that this is enough not to replace technical analysis but to complement it, they go hand in hand, so I decided that I would start using fundamental analysis, and this may sound unbelievable, but I learned fundamental analysis by doing stuff full of stuff first, I started watching or listening to Bloomberg TV completely free, it’s on YouTube, and you can even watch through the Bloomberg website completely free.
And I listen to that for 5 to 6 hours a day and I still do that, I start trading at about 6:00 in the morning and I listen to it until about noon, and then I’ve had enough, I know that’s more than five or six hours But you know I’m not like that.
Engage in other activities while trading Forex
Always on my screen, like I said go to the gym and shower, whatever doing that for three or four months, things start to click and you start to understand it’s kind of like and I don’t have any experience with this but it’s kind of like immersing yourself in Another language or culture.
They say the best way and the easiest way to learn another language is to be around people who only speak that language, so listening to Bloomberg for five hours a day suddenly the term makes sense, and after time, you understand what they’re saying about as well as watching the article clips on Bloomberg um, so Bloomberg’s YouTube channel subscribes to watching these article clips on other YouTube channels as well.
Operated by expert Forex traders
So there’s a guy called Patrick Bole who is very good, I started buying the Financial Times Ft I was reading the weekend paper that on the weekends you don’t do that much anymore, but these are the steps I took and within 6 months I understood fundamental analysis okay, I taught myself basic economics and self-taught fundamental analysis.
I taught myself fundamental analysis just as I taught myself technical analysis, so Baby Pips had courses but I did some fundamental analysis if you can learn technical analysis, you can learn fundamental analysis I have some trades open, it was NFP this afternoon.
So I’m just trying to keep an eye on these things, so now I’m trading after all these years, and my trading journey now includes things like forecasting interest rates and central bank decisions looking at inflation numbers, economic numbers, GDP unemployment rates, trade balance, retail sales And a lot of other things.
