You may be seeking information on market activity, but where should you start the research process?
Should you start by asking around? Where are the professionals whom you can seek for advice? Where do you find them?
From the previous questions, seeking information on market activity and recommendations can be a tough process. You may find yourself needing a set of guidelines, before selecting the best individuals for advice, right?
Why can’t I just ask brokers about market recommendations?
To many people that is an option, yet it isn’t one that is recommended. Brokers are simply middlemen who help provide the best quotes based on your order. A broker is not an analyst who is going to provide you information on what to buy and sell.
Additionally, a broker probably doesn’t know anything about market principles and motion. Technical analysis might not be something that has been studied by a broker. In fact, 80% of brokers usually do not know much about technical analysis tools, and how they factor into trading decisions.
This means that you might need to look for an analyst, to help you get the information you need.
So the analyst will provide me with the trade recommendations I need?
Nope. The analyst also has their hands tied in terms of their potential. An analyst can provide you information on the market. They can provide you with highly and least likely motions of specific assets and markets. But when it comes to recommending entry/exit times, and also amounts to be placed in an order, do not expect an analyst’s help.
This is because an analyst is not necessarily a trader. An analyst may have no market experience placing trades based on the knowledge they provide. They might not understand proper risk management measures required when placing an order. They may even be lacking in the psychology required for trading.
This leaves us with one final option when it comes to advice.
You need someone who’s been in the game for long enough.
Someone who has played the game, and succeeded in the long-run, is someone you should be seeking for advice. This also applies to those who watched markets for years and decades and educated traders over such time, who understand well the long-term picture of the market.
If you’ve played long-enough in financial markets, then you may have gone through a blunder or two. You may have survived a bear market intact at least once, and even made money strategically shorting it. You may even have profited well on the ups and downs of a boom and bust cycle!
Such individuals with long-term success are whom you should be seeking advice from, and this is exactly what you will find on the FSM News website. Through FSM News, you will receive information by traders and market analysts with deeply refined information on trends and technical, and coaches of highly successful traders.
The easy to understand principles and market analysis provided will definitely provide you a boost on your trading journey! Not only that, but the team of FSM News provides educational material to aid you in becoming an independent trader, capable of making decisions without referring to others, and possibly guiding others too!