In today forex faq, I will be sharing with you my personal opinion on the following issue.
Below is the question from our fellow trader
What is the best trading system? I mean to ask do I focus my trading on fundamental or technical trading pattern?
There is no right or wrong answers for the above question as it all depends on the individual opinion. If you ask this question to a fundamental trader, he will definitely say fundamental is more important. However I myself is a technical trader which means that I trade purely with charts. Naturally I will be more inclined to the technical part of trading.
Maybe let me share with you why I think technical analysis is more important for me.
If you are trading the news, it is very hard to know whether you should buy or sell. This is because different people interpret the news differently. You may think that you should buy when you see the news release but there are more people who think that they should sell and therefore the price falls.
To me, this is very hard to digest and the movement is purely by human sentiment. As for the technical analysis, everything is more systematic. I understand that there is no way you can read the market with 100% accuracy but at least with the help of indicators or price action, you will be able to have an edge over the market.
Below is another question from another fellow trader
I wish that you could send us the trading signals with buy sell and limit for stop loss.
If you have been receiving forex trading signals from my website, you will know that I sometimes give you information on when to enter your trade. As for the stop loss and profit level, I did not offer you this information.
This is because the stop loss and profit level depends on your personal appetite for risk. What I think is a good stop loss may be too small for other people. Therefore I seldom tell you when to get out.
I hope that I have answered the 2 questions from our fellow traders and do feel free to give your comment below.
If you will like me to trade your account for you and help you recoup back your previous losses or help you grow your trading account, you can take a look at my Forex Signal Service below
For those of you who are totally new to forex trading, I will suggest that you read through this blog post that I have written for beginners