Am i retarded?

[new_trader]

Fair point - I'll rephrase: Forget fundamentals unless you thoroughly understand them.

The understanding will come naturally will it? Without any effort...perhaps through subliminal learning!

 

[Chartsy]

I prefer to read them just to not be ingorant. Plus it's useful as i'm doing an economics degree soon

 

[x4x]

The understanding will come naturally will it? Without any effort...perhaps through subliminal learning!

I very much doubt it.......if you feel the need to understand then I'm sure it will take a whole lot of effort - personally I don't feel the need.

 

[x4x]

I prefer to read them just to not be ingorant. Plus it's useful as i'm doing an economics degree soon

I read them too, but I wouldn't claim to 'understand' them - not in so far as to make a decision on a trade that might only last the next 30 minutes or so.

 

[Pazienza]

Fair point - I'll rephrase: Forget fundamentals unless you thoroughly understand them.

I agree.

In my view, in many (certainly not all) situations fundamentals can be very helpful used in conjunction with technical factors to significantly improve the likelihood of a successful trade.

However, the only one I consider is the mood of the market. For a day trader, this is necessarily a shorter-term thing, although it might obviously agree with longer-term fundamentals.

Essentially, it goes back to the line of least resistance, but crucially one must be on one's toes and recognise that this can change rapidly. One must also recognise that one's time scale can have a dramatic effect on this.

As a very obvious example, the line of least resistance for index futures is clearly up. However, yesterday I took one of the easiest shorts I have ever experienced yesterday on YM. This is because the line of least resistance (on my time scale) is clearly down.

In this instance chart reading was merely a timing factor, that is it told me when to start trading, and not in which direction to trade.

Other times I ignore fundamentals entirely and trade based solely on the chart . However, it is generally far easier when I have fundamental factors in support.

 

[x4x]

We all owe it to ourselves to get good at whatever fits with our strategy - my 'edge' is watching every time frame of the market I trade (EUR/USD). Like Black Swan I find it better to specialize in one market and get to know its character and important levels.

E/U went straight down nearly 200 points yesterday - it should have been an easy and profitable day for all intraday traders - today was nice too.

 

[Pazienza]

We all owe it to ourselves to get good at whatever fits with our strategy - my 'edge' is watching every time frame of the market I trade (EUR/USD). Like Black Swan I find it better to specialize in one market and get to know its character and important levels.

E/U went straight down nearly 200 points yesterday - it should have been an easy and profitable day for all intraday traders - today was nice too.

Black Swan doesn't though. He's given up trading because he couldn't make it work.

Sorry, I mean he gave up because he found it too easy. My bad.

 

[x4x]

LOL - I told him to learn those funnymentals...

 

[safvan]

EURUSD is moving sort of side ways on the weekly charts and there are other instruments in a nicer trend. I would stay out however my bets would be on the long side on a daily time frame.

I seriously envy a lot of you traders on this forum that can trade the instruments on time frames shorter than daily charts. It requires tremendous amount of solid trading skills to be able to consistently make a profit on lower time frames (no sarcasm).

 

[AspiringTrader.]

Thanks for all the replys, there's some good advice in there. I probably am looking a little too narrow at my s & r levels, and taking fundamentals a little too far sometimes.

Oh well.. win some, lose some , still learning everyday.

Cheers AT