How to become a full time forex trader

Becoming A full Time Trader -Developing Forex Systems - Nial Fuller
You only need to master one trading setup to be a consistently profitable trader.
Screen time will allow you to master one setup.
After you have mastered one setup “own it” you can add another setup. This can be an ongoing process developing your own style.
The best setup to begin with is the one that you see and understand easiest. If you are forcing yourself to learn a setup because you believe another person is successful using it you may be taking the longer route to profitability. We are all different . Our brains and personalities will gravitate to different setups. This is also true of exit techniques. Most traders I hear from lengthen their road to profitability by trying to apply too many concepts before owning the first one. They have studied a myriad of techniques but have yet to master any. This allows them to talk about trading but unable to consistently trade profitably.
The first decision to make is; do you desire to be a counter trend trader? or a with the trend trader? Eventually, you can be both. At the beginning, or a new beginning perhaps, you will do best choosing to master a setup and follow the trend. If you have been at this game for awhile and are not yet consistently profitable you know what I am saying is correct.
This site contains trading techniques and setups with the intent that it will aid you in creating “your” trading style. My personal trading style is a combination of various styles and setups.
I trust this website will be an exercise in my personal understanding of my own style allowing all to benefit.
PICK ONE, MASTER IT, BE CONSISTENTLY PROFITABLE

Forex Fundamental Analysis Article

Basics of  Forex fundamentals

That forex analysis is a basic part of any trading method is accepted and understood by everyone. The usefulness of technical analysis for the determination of entry and exit points is also recognized by most traders. It is a pity that the other branch of forex analysis, the fundamental study of currency markets, is neglected by a significant number of beginners, and even by some experienced traders. This is an unfortunate situation. Since the invention of coinage by the Kingdom of Lydia in Anatolia, speculation has been a part of economic activity. And since those earliest days of trading, a vast number of successful traders have based their decisions on fundamental analysis, which is a fact recorded by documents thousands of years old, such as the Chinese Shi Ji.

Forex fundamental analysis is based on the notion that although market events are random in the short term, in the long-term the value of a currency pair will converge toward the theoretical value determined by economic fundamentals. In the short-term, markets move in an apparently random fashion. But examination of long-term forex trends shows the relationship between fundamentals and the markets clearly. It is, for instance, basic knowledge that interest rate differentials influence market action in an easily perceptible way. Unlike technical studies, fundamental analysis also helps us to establish the causes of market events. While technical analysis shows the how, where, and when of the markets, fundamental studies provide us the crucial “why” component necessary for linking those “where, when, how” aspects of the price action.

Fundamental analysis is certainly not news trading, nor is it a way of timing the markets. While it sometimes happens, it is rare that the dictates of forex fundamental analysis will be reflected in the market action immediately. But the later that the markets realign themselves with fundamentals, the severer the correction will be. The longer the irrationalities last, the stronger their elimination in the markets, and the greater the profits of the fundamental trader.

From the earliest days of the invention of currencies, fundamental analysis has brought countless riches to its followers. The speculators of antiquity, army contractors of the Roman era, Chinese merchants of the Warring States period, the Rotschild family in the 19th century, and the better known examples of our time like George Soros or W. Buffet have all utilized the powers of fundamental analysis to acquire wealth well beyond the imagination of those whose practice is limited to technical studies. Whether you wish to join them is up to you. But the tools of forex analysis are available to all who desire to use them, and you have only yourself to blame if you miss your opportunity.

Why Use Forex Price Action Analysis ?

Why Trade Forex with Price Action?

The forex market is a highly liquid and sometimes fast moving market that lends itself wonderfully to the trading method of price action analysis. Price action analysis is the identification and implementation of specific price action signals or setups in the market you are trading. Forex is a great market to use price action analysis on because it is open 24 hours a day 6 days a week and this means there are more price action signals for you to take advantage of. All you need to know is what to look for and you can best learn this from a professional price action trader.

I have tried about every way to trade the market you can imagine and after all the frustration, time, and money wasted I ended up realizing that the best way to trade any market is just by analyzing a naked price chart. My unique way of trading using price action setups is a result of many hours of screen time spent analyzing price movement and price action patterns.  Trading is a process of trying different methods and tweaking them and eventually ending up with your own unique trading method.

Price action analysis works very well in the forex market because it is such a dynamic and active market. The beauty about price action analysis is that it is an inherently flexible approach to trading that gives you a perspective on the market that allows you to make sense out of what is happening at any given time. I have been profitable by concentrating on just 2-3 good price action setups that have proved profitable again and again for me. If you learn how to read what the chart is telling you and focus on 1 to 3 setups that you like, eventually you will make money. Where people go wrong is using indicators and other overly complicated methods and then constantly jumping from one technique to the next. You have to find a truly consistent edge in the market and then just concentrate on that until you get it down, then you can maybe add more tools to your arsenal.

Trading is difficult enough without having an overly complicated method that tells you to look at multiple lagging indicators when you could just be looking at a simple price chart. Probably the best reason to trade forex using price action is that any indicator you use on your chart to analyze market movement is derived from price and is just showing you in a less vivid format the same thing price is showing you. Some people like indicators because they give you buy and sell signals when lines cross or whatever. The thing is, if you know what price action signals to look for you can get the same entry signals but at a much better price which gives you a better chance at profiting.

Just because your charts come with a hundred different indicators doesn’t mean its going to help your trading or make you money in the markets. We are trading financial markets here, so the core of what we are doing is trying to profit off of price movements. Why people would not naturally make their trading decisions off of pure price movement is beyond me. I promise you that if you simplify your trading method and concentrate on using price action you will wonder how you ever traded any other way.