So you want to learn forex? Well, that means you have to make an important decision. You have to choose what kind of analysis you are going to use. You can either decide on technical analysis or fundamental analysis.

I’m sure you can find a few traders who are equally great in both categories but for the most part, traders usually stick to only one form of analysis as their MO.

But unfortunately, there are plenty of traders who have made a conscious decision not to learn either method. Trust me, I know this sounds crazy, but many traders would rather trade from the heart, instead of taking the time to learn how to properly analyze the market, so you can trade it successfully.

You may laugh, but there are many traders who dont really grasp just some of the basic fundamentals that come with news events. To give you an example, there are many traders who couldnt even tell you the significance of NFP numbers or unemployment numbers. Its sad but true.

Many traders arent even sure whether an increase or decrease in interest rates will make the price of their currency rise or fall.

What makes this even worse is the fact that many traders never really learn about the trading the forex market from a technical perspective. To some of these traders, the entire idea of using technical analysis is to put every single indicator on your chart, and somehow hope that your indicators are pointing you in the right direction.

The honest truth is that the vast majority of indicators will not ever provide any kind of proper technical analysis. The big reason for this is because they are inherently lagging. If you want to know what has already happened, then they are pretty good. But if you want to know what will happen, it doesnt provide much help.

If you are really serious about learning to use technical analysis, then I strongly encourage you completely get rid of your indicators start learning about price action.