Post
Topic
Board Trading Discussion
Re: If you aren't reading you shouldn't be trading
by
gabbie2010
on 14/07/2021, 04:40:22 UTC
It's just as simple as the both goes hand in hand both for technical and fundamental analyst. Trading is one career that requires steady update on how the news could affect the direction of a trade or possibly how an indicator or a candle stick can direct a trader on where the market is heading. If there is no time for a consistent update on your previous knowledge as a trader I guess at some point some level of gambling sets in.

A successful trader isn't a trader who makes consistent profit without any loss but rather a trader who knows why his trade went the opposite direction and also a trader who understand risk management. Most traders makes massive profit in a single trade and blows everything down in the next trade as such there is no professional despite his initial achievements. To maintain clean records of both profit and loss margin reading as a trader is inevitable because despite the level of knowledge you might have acquired there must always be a newer technique you learn each time you seek to update your previous views about how the market behaves.

Only gamblers stay a full month without refreshing their memories on what the already know because in as much as trading is concerned there are multiple ways of predicting market flows and it only takes consistent research to get a hand full of approach to maintain a good profit margin in trading.
From my own point of view fundamental analysis moves the market thus determine the candlesticks pattern formed, this assumption was based on some articles I read and watched some videos on Price Action trading  candlestick patterns like marubozu indicates the market trending in one direction possibly due to a fundamental news and occurs consistently during PUMP and DUMP thus creating trading opportunities.
With reference to yesterday BTC/USD 4hour time frame chart a bearish marubozu formed indicate that the bears had taken over the market might be due to some fundamental news.