- Quick Tip On Dealing With Risk Sentiment Pullbacks - July 2, 2020
- Quick Tip On Taking Profit - July 2, 2020
- The Difference Between ADR & Pivot Points? - July 1, 2020
Successfully Trade With Fundamental Analysis – Degree Or No Degree
Just quickly following up with a question from Abu who asks us, “What type of educational degree “should somebody get to help them trade the fundamentals “for the financial markets?”
So, answering the question, there is two very important distinctions that we need to make and that is the distinctions when it comes to education. So there is education that’ll obviously help you increase your theoretical knowledge of something and then there is education that will help you to apply that knowledge that you have gained.
When it comes to educational degrees, there are quite a few out there that are considered the staple degrees for knowledge about the financial markets which includes things like a Bachelors Degree in Economics or Bachelors Degrees in Banking, and even others which are more specified which provides degrees in wealth and portfolio management.
Now these degrees will surely give you a very broad based knowledge of the fundamentals and how all the different parts fit together and relate to each other from a macro point of view, but that knowledge will not necessarily help you to trade or invest with the fundamentals or in the financial market.
It’s one thing to have the knowledge, the theoretical knowledge, but knowing how to apply that knowledge and actually make a profit from it is a whole different ballgame right?
So, that is where having access to market commentary and analysis comes in with something like the Forex Source Terminal, so what we try to do is we take all of the complexities of the financial markets and filter it down into the most important and market moving information.
Firstly you need to understand why the market is moving and that is across various asset classes and they’re more importantly helping you to understand how you can basically apply and use that information to find high probability trading opportunities.
So to your question, is a bachelors degree something that I would encourage somebody to do? If you are going to do it because you want to use it as an additional qualification or you want to get it with the aim of using it to find more work opportunities in the trading industry for example, I would say go for it if you can. But don’t do it to, in the hopes that will make you necessarily a better trader.
Do it knowing that it won’t necessarily make you a better investor or trader, for that type of info you do need more hands-on training and help with, which is something that the regular institutions in terms of bachelors degrees et cetera won’t really provide, that is more hands-on training with something like market commentary and market analysis et cetera.
So, I hope that helps Abu, any other questions, just let us know.