By now you’ve learned some history about the forex, how it works, what affects the prices, blah blah blah.
This is all obviously super important, but know that you’re now thinking…
Well, say no more friends because here is where your journey as a forex trader begins…
This is your last chance to turn back…
Take the red pill, forget everything, and we’ll take you back to where you were before.
You can go back to living your average life in your 9-5 job and work for someone else for the rest of your life…
You can take the green pill, which is fully loaded with the dollar extract, and learn how you can make money for yourself in the most active market in the world, simply by using a little brainpower.
Just remember, your education will never stop.
Even after you graduate from the School of Pipsology, you must constantly pursue as much knowledge as you can, so that you can become a true FOREX MASTER!
The learning never ends!
Are you ready to make that commitment?
Now pop that green pill in, wash it down with some delicious chocolate milk, and grab your lunchbox… the School of Pipsology is now in session!
Three Types of Forex Market Analysis
To begin, let’s look at three ways on how you would analyze and develop ideas to trade the market.
There are three types of market analysis:
- Technical Analysis
- Fundamental Analysis
- Sentiment Analysis
There has always been a constant debate as to which analysis is better, but to tell you the truth, you need to know all three.
It’s kind of like standing on a three-legged stool.
If one of the legs is weak, the stool will break under your weight and you’ll fall flat on your face.
The same holds true in trading.
Oh wait. Since the stool is supposed to represent how a trader goes about thinking and analyzing the market, it’s missing a brain.
But wait! The stool needs more brains!
There technically should be three brains….to represent the three different types of thought process…
Ahhh. There we go.
You need to have three “brains” when thinking about the market.
If your analysis on any of the three types of analysis is weak and you ignore it, there’s a good chance that it will cause you to lose out on your trade!