That's right! Forget about all of the technical analysis and how to control your emotions... and forget about money management rules and risk to reward ratios and everything else you THOUGHT was important to trading Forex.
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The plain fact is... and this is what separates great traders from Gurus-that-can't-trade-so-they-teach... every currency pair, every price action, and every order placed, are results of Fundamental News releases.
Take two traders, both just beginners, both took the same beginner's Forex course and learned the basics of trading. Both have similar education and background, and both love trading and their goals are to trade for living for the rest of their lives. Let's call them "John" and "Henry".
John spends all his time studying the chart, he experiments with new indicators, new parameters, and constantly trying out new trade ideas. He gets his emotions in line. But he never realizes the fundamental factor to Forex trading... as a matter of fact, he purposely ignores news releases and he never makes the simple correction that will make his trades profitable.
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John, later in his life, is the guy you might find frequenting discussion forums, public online trade (chat) rooms, posting some amazing trades, but never ever show you his live account statement... that is, if he even have a live account at this point.
Henry, on the other hand, early on senses that there must be more to Forex trading than just looking at the chart. He may not understand the fundamental news effect to the world economy, but he makes a simple adjustmentin the way he looks at trading. Despite the warning from die-hard technical traders to ignore the news, he trusts his intuition and does what's right... not what people told him.
Read more: http://www.articlesbase.com/business-articles/henry-liu-news-profiteer-3299615.html#ixzz103JLk1hx
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