Had a chat with my uncle, who is also a trader. After awhile, I realized that he and my other trader friend in army also trade in the same way. They actually trade the market, and less so focus so much on technical analysis.
The difference between Market traders and News trader is that Market trading is more long term. News trader takes action once a news is realized, taking advantage of the emotions of people when the news are released.
Market trader read often and update themselves. They are like a compilation of News trader, who gather information and try to use it to make sense of the market. They come to a conclusion where the currency should be heading. That is why it is important to understand the fundamentals of the market. Using various reports to understand where the market will be heading, and how it will affect the currency.
My uncle mentioned that the Market is more important than Charts. Does the Market moves the Chart or does the Chart moves the Market? Understanding the market will give you a good prediction about what will happen to the chart. Spend more time thinking, understanding and predicting the market, then you use the charts to help you enter a trade.
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