Rocketman

The LIMITATIONS OF TECH. ANALYSIS & the Assuie Rate Decision

FX:AUDUSD   Australian Dollar/U.S. Dollar
179 1 11
I am proud to say that I am a currency trader and investor!

The Aussie rate decision comes out in 30 minutes as of this writing.

So, do we buy or sell now before the Aussie rate decision? Gurus tells you to wait until AFTER the news comes out. Why? Because they have no idea of what to think. And, you pay them $1000s and then, miss the part of aligning yourself with the mighty economic powers and the movers and shakers.

The LIMITATIONS OF TECHNICAL ANALYSIS:

Without knowing the power of economic-fundamentals, you cannot, confidentally, get strong moves either:
(1) before they occur
(2) be proactive; you are reactive staring at charts
(3) Be on the right side of the market WHEN they occur; you are just a professional gambler (like professional; horse betting) with great money management skills

You will second "guess" yourself. Or, if you do not, you will blindly follow a robotic without thinking. You will have losses, but you don'y care. That is what professional gambling is all about. Next gamble!

Boom, you are on a losing streak, you obey your system, and some eventually evolve and realize that there is a better way....

So, buy or sell Aussie now or later? WHY?

For me? I like looking a little deeply at things than at a pair chart (which represents only a piece of the evidence) because I am not JUST a trader; I am a currency trader! We can do better!
Comment:
snapshot
Good points, I agree...if we're serious about trading, we should strive to have thorough understanding, or at least as much as possible, about the fundamentals, to then filter trade ideas, and timing, derived from technicals.
Cheers.
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