Trading question - Fundamentals vs Market Sentiment

[alextrde]

Great question. Is there such a thing as an automated trade tracking journal?

You can try Myfxbook. It's free service that offers an automatic trade tracking log

 

[Arafx]

Successful forex trading requires understanding the balance between fundamental factors and market sentiment.

 

[NatureGirl]

Some brokers have a client sentiment also you can use forums cause always traders are speakin bout the market. also try google finance bloomberg and reuters

 

[Purecaster]

Actually, forex trading is influenced by a plethora of factors including fundamental ones and market sentiment.
Market sentiment is usually influenced by the events happening in the world arena, whatever these are economic or political ones.
Speaking of technical side of this question, then prices are influenced by market makers or people with huge deposits who are ready to invest big sums into certain asset, or vice versa, to sell a lot.

 

[bigdolly]

Hey guys, I wanted to ask this from the experienced traders. I have been trading for a year so I am an absolute newbie. Is forex trading primarily driven by fundamental factors or market sentiment?

Forex trading is influenced by a combination of fundamental factors and market sentiment. Fundamental factors include economic indicators, interest rates, and geopolitical events, while market sentiment reflects the collective mood of traders. Successful trading often involves considering both aspects to make informed decisions.

 

[Gazel]

The market is definitely driven by fundamental factors. Even if you are a day trader for example, it doesn't mean that certain event with bad consequences for the asset you are used to trade won't affect your positions. It will, basically.
That is the reason why even if you are more about technical analysis, it's worth reading news in the morning shortly before the trading day. It won't be superfluous to check such things as economic calendar, but I presume it's more about forex trading.

 

[bigdolly]

The market is definitely driven by fundamental factors. Even if you are a day trader for example, it doesn't mean that certain event with bad consequences for the asset you are used to trade won't affect your positions. It will, basically.
That is the reason why even if you are more about technical analysis, it's worth reading news in the morning shortly before the trading day. It won't be superfluous to check such things as economic calendar, but I presume it's more about forex trading.

In the long run fundamental factors are indeed play the key role in determining asset price trends. Hence if you want to trade using fundamental analysis you have to focus on swing trading, instead of scalping or algorithmic trading.

 

[Felhamand]

Surely, if it's about fundamental analysis and precise analysis of the current market sentiment then it's only about positional trading. Scalpers operate different tools to conduct proper analysis.
I heard scalpers depending on their strategy can utilize up to several tens of applied indicators on one assets, because they actually need to react quickly. But the majority of scalpers are also involved in algo trading. That is also a fact.