What are the types of analysis need to do in forex trading?

[Myra Wilson]

The trader uses previous price data to determine future price movement is called analysis. There are two types of analysis technical and fundamental. Both are important to trade effectively. Some traders ignore fundamental analysis. It is equally important as a technical term. I learned about technical and fundamental analysis from Eurotrader free educational courses.

[Beagra]

Personally, it seems to me that if you know how to use both technical and fundamental analysis, then the effectiveness of your work will be much higher.

[gds221]

In general, here everyone chooses for themselves a more suitable option for analysis.

[Vaabum]

Usually the type of analysis I apply depends on what strategy I use.

[Dora Wi]

The two basic types are fundamental and technical analysis. They complement each other well so it's best to use both of them in your trading. Some people mention sentiment analysis as a third type - it kind of ties into fundamental analysis, taking into consideration how the majority of investors feel about a certain asset currently.

[Ceban]

For efficiency, it is best to use both types of analysis so you can get more benefit.

[gds221]

I prefer technical analysis, but here the whole point is that it is better to use it in this strategy.

[Erienner]

first you need to start at least somewhere, so analyze your transactions and actions, look for mistakes, you will have a great experience

[Gidencenti]

first you need to learn how to analyze yourself and your actions in trading in order to look for mistakes and solve them

[Laidar]

Each mistake, if analyzed, gives very good opportunities for further development.

[gds221]

I believe that the trader himself still plays an important role here. Including the type of analysis also depends on the trader's approach to work.

[FXOpen Trader]

On 6/22/2021 at 6:52 PM, gds221 said:

I believe that the trader himself still plays an important role here. Including the type of analysis also depends on the trader's approach to work.

If we will make use of such kind of analysis that is easy for us to understand then our income will also increase.

[gds221]

Alternatively, test different types of analysis directly in the process. As an example, I usually test various types of analysis on a demo account.

[Gidencenti]

any analysis must be able to use and understand correctly, otherwise you will simply draw the wrong conclusions

[gds221]

In general, different types of analysis can be used, but the point is to get the desired result. And it's better to test it on a demo account.

[Gidencenti]

in fact, any analysis can be used with benefit, there would be a desire, for example, Amarkets has a lot of information on this topic, and you can also work with them with benefit, managers give very practical advice on work

[Erienner]

you can use completely different options for analysis, the main thing is that you understand what and how to use

[bigxy]

Both the technical and fundamental analysis are required to be considered before taking any trade.

[gds221]

I prefer technical analysis, this option seems to me to be more successful for trading.

[Vaabum]

As for me, in many ways it already depends on the style of the trader's work.

[Vaabum]

I believe that for a trader, analysis plays a really important role. It is worth understanding that this is a really important aspect that should be given attention. I usually choose the type of analysis depending on the market situation.

[gds221]

In general, this largely depends on the style of work of the trader. But, technical analysis is more suitable for me.

[Vaabum]

Technical analysis is more suitable for me, I use it.

[Hanettak]

There are 2 main ones: fundamental and technical analysis, in order to be successful, you must be able to work with them 2 and understand their significance.

[gds221]

As for me, the best option is to choose the type of analysis depending on the very style of the trader's work.