FOREX TRADERS

[ultimatepick]

With your vast fundamental knowledge combined with technical analysis you can make as you say a "boatload" more $$$. Bank traders look at the daily chart and the 20 and 50 moving averages. They hold for at least a week.

The most important indicator is price action. Clusters of support and resistance are very important. Think of it like this ... a guy buys a stock at 1.3000 (eur/usd). And this dude bought this "stock" at the same time as other traders bought the stock at that price. This price is engraved in their minds and they have a threshold of pain (stop loss) that they must deal with. So there is a very high "probability" that the price will bounce at these levels. Nothing is for sure but this is a game of probabilities right?

Also the second most important tool in your arsenal is Fibonacci. Hands down (my opinion) it will absolutely AMAZE you how price follows these levels.

Also look at price action at the figure 1.3100, 1.3200 etc.
The half figures 1.3150 are very important also.

Trendlines for the most part are respected .. you know why?
Because traders know that other traders will respect these lines and so they go with the masses.

If you combine all this with your superb fundamental knowledge you will do very very well.

I have alot more pointers ... feel free to ask any questions you have.

Glad you are thinking about turning to the dark side Luke ... I mean Lava! LOL!