FOREX: is trading forex on news releases a viable way to trade forex and what would anyone service would you r

Question

which service would you reccommend , is there any good free site that publishes news releases

Answer 1

Here is a link to the global economic releases this week: http://www.gftforex.com/resources/calendar/calendar.asp
The reaction to these releases is in seconds and the first indication you'll have that they're out is that the prices has moved 10, 20, 30 pips or more. You can subscribe to a newsfeed from Reuters or Bloomberg (for about $1200 per year) and get them as they come out but you still need to be quick on the mouse click.

If you try to trade on the news that comes across on free services such as google news, Bloomberg, etc., you'll go broke.

You need to be in close enough touch with the market as a whole to understand the economic trends and cyclic trends that are going on, trade on those at the right time using technical analysis and if you're going to be in a trade when the news comes out, it's best to try to hedge one currency pair against another. For example, in about 2.5 hours, the Reserve Bank of Australia (RBA) Commodity Index is due to be released. You can try to guess whether it is good or bad and place your trade in advance or you can hedge it with another currency so you're covered whether it is a good or bad report. The latter is safer but things can still go wrong.

Answer 2

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Answer 3

Forex is a very volitle arena that is not fit for amateurs. Any news releases are almost instantaneously assimilated into prices so the chance of you profiting on something that you saw on cnn is pretty low because large institutions and hedge funds have analysts all over the world that track trends and events and have probably already acted on news before the media even gets ahold of it.

Also, there is a thing called a spread that will prevent you from easy profits, meaning that a currency dealer will always win.

Answer 4

You want to trade Forex? My advice is take the money you want to invest in trading Forex and grab a good travel and vacation book. Pick a vacation spot you would like and book your holiday. Stay there until either your money has run out or the idea of trading Forex as an amateur has been expunged from your mind. If the first eventually comes to pass you have had a nice holiday and you can return to work well rested. If the latter comes to pass you kept some of the money you would have lost.

Answer 5

Smart move looking for a free site for information on forex. There is so much info available on the net you can keep your money in your pocket. I like FXStreet.com for some good training on both technical and fundamental (news) style of trading. They also host some free webinars that you should sign up for. I really like the one with Wayne McDonell during the Non-Farm Payroll on the first Friday of each month. Pretty interesting.

Babypips.com is another awesome site for free education.

There are alot of people that lose money trading Forex. You can actually find quite a few of them on sites like this. Keep studying, trade free demo accounts until you have a good track record and then proceed slowly.

Your primary goal should always be capital preservation. Don't trade on greed or fear. Remember the market is not going anywhere you do not have to enter until you are confident and ready. Live to trade another day!

I would be happy to discuss strategies with you sometime.

Paul

Answer 6

The GFT forex site below gives a good overview of news releases.

Yes, there are people that trade systems out there that depend on news releases. They are short and sharp trades with shallow stop losses.

Answer 7

The old adage, selll on information, purchase on rumours. by skill of the time the information comes out its too previous due. people have already priced it in. persons are already paying for and advertising on what is going to happen. So its close to impossible to have the better hand. expenditures at any given time mirror the evaluations and perspectives of a lot of people, which includes the investors, businessman, vast corporates, MNCs, Goverments, politicians and principal Banks. in case you commerce on fundamentals, like Soros did in his prominent Sterling debacle, or replaced into it...besides, be arranged to adhere it out. It takes time for the industry to regulate to the "vast mac" valuation index. Minute to miunute, or perhaps hourly, or perhaps daily paying for and advertising its exceedingly much impossible to have the better hand in paying for and advertising base in information. TO ME fundamantal paying for and advertising isn't paying for and advertising on information.....commonplace paying for and advertising is once you be responsive to there's a discrepancy in valuation of two currencies by using short term fee fluctuation becasue of climate or in spite of. Say if Sterling replaced into at a million.eighty yet your perspectives or some analyst view is that becasue of in spite of it sghould be a million.60. And in case you carry to that "commonplace" view", then take a place in that direction.

Answer 8

IF INVESTING CAN MAKE YOU GREAT RETURNS - IT CAN CAUSE YOU GREAT LOSSES. It is better to not put yourself in front of a train than to hope you can get off the tracks when you see the train coming.

Answer 9

If you cannot even afford the news then you should not especulate with currencies from other countries.