Forex psychology?

Question

It is possible to trade forex based on news and indicator? I want to trade forex by the information by news of either buy or sell, and then I analyze by using 9 indicator. If 5 signal sell, 4 signal buy I would buy. Can I make profit, regardless high and low?

Answer 1

While I have never heard of 9 indicator I guess its possible to profit from fundamental rather than technical analysis, but not very likely. More people trading use technical than fundamental so the market will move based on that. Other than news days( which some people don't trade at all), fundamental is becoming more and more rare.

Answer 2

9 indicators sound like way too much... information overload. I only need 3 indicators and I do very well.

Yes you can trade on just news (fundamental analysis), indicators (technical analysis), or combine both. Personally I only use technical analysis.

No matter what you do, open a free demo account and trade for at least 2 months before you even consider putting real money in.

Answer 3

Hi,Please remember 10% of forex investors only winning other 90% lossing,So you have to very careful with the Economic news,Interest rates,country politics,If you play safely you will win,

http://free-forex-trading-training.blogs...