I have been considering forex for a while now. I have been reading alot of books studying Fundamental, Technical, psychological analysis, market behaviour, risk management,..... and lots more. <snip>
After stating all of that, i would like to know if there are ways to avoid false indicators, and be able to detect and distinguish between actual real indicators from false indicators, and i would be grateful if i would get more advice from people who are more experienced.
Welcome Amsuna
Forex trading is usually considered the most difficult market. One reason is that governments directly intervene for political reasons so market forces are not reliable indicators. I think a bigger reason is because this is one of the largest, if not the largest, market and is dominated by the biggest players with the deepest pockets and best informed traders in the world. This is very risky for a beginner in the best of times. To enter this market during times of unprecedented turmoil strikes me as pure folly. Besides, as all currencies are being devalued simultaneously, any relative gain you may capture is still in a depreciating asset. So even if you win, you lose. I’d suggest you consider hard assets like gold, silver, commodities, and productive land.
Travlin
I have been considering forex for a while now. I have been reading alot of books studying Fundamental, Technical, psychological analysis, market behaviour, risk management,..... and lots more.
And then now i have reached a point where i still have thirst for more knowledge, like i really want to dig out those hands that really controls economy, like the real hands inside the Muppet sock, coz i was not convinced with all what i have read, until I decided to retake all those economic courses i use to take back in college, and here i stumbled across Chris Martenson's crash course vids.
I am convinced 100 % of everything Chris said in his videos, and it made me wonder a few things about economic indicators i get in the economic calender, and probably have doubts about most of them if not all of them, like when i watched
(Chapter 16 - Fuzzy Numbers) talking about CPI and Hedonics it made me understand why most of the economic indicators did not affect the charts, when it should have gone high or low depending on the news, it didn't, but news in the economic calender have different affects on the chart, some take a one star, others take more accordingly to the degree of importance and effectiveness on currency.
After stating all of that, i would like to know if there are ways to avoid false indicators, and be able to detect and distinguish between actual real indicators from false indicators, and i would be grateful if i would get more advice from people who are more experienced.