Most brokers have a free news plug in with their deal station. Headline economic data moves the forex markets and currency traders can take advantage of that.The news is released at certain times on the economic calendar and is reported instantaneously by news outlets including Bloomberg,Reuters,Dow Jones,Trade The News and CNBC making it universally accessible.Some of these agencies charge traders a lot of money for instant news so traders can trade the spikes that occur sometimes when the figure is outside the expected range.Sometimes, the news will affect the markets for days.
We trade with technical analysis and fundamentals.We pinpoint entries and exits with technical analysis.Market sentiment is driven primarily by the economic and geopoplitical news of the day.The key players such as central banks,multinational companies,hedge funds and top tier investment banks formulate their trades by analyzing the most recent economic news and geopolitical developments and pronouncements from G-7 monetary authorities.The release of the economic figures drives the price of a currency pair towards an important Fibonacci level, Pivot level ,support level or resistance level.
It is important to look at an economic calendar to see if the market is waiting for the release of a major fundamental announcement.Price may go into consolidation before the release time or it may move a lot as traders take a position beforehand.If the released figure varies considerably from the expected figure, the price will move a considerable distance.Some data releases are lot more important than others.
You can open a trade when the market settles down soon after a news release or if you are really daring you can open a trade 10 minutes before a news release,but have a stop loss in place for protection.The market can move 100pips in 30 seconds occasionally.Trading the news is not always clear cut.Price can go in opposite direction to what seems logical.Also, figures from previous months can be revised.
Major reports released for USA include Non-Farm Payrolls,Trade Figures,Retail Sales,Durable Goods,Consumer PriceIndex,Treasury International Capital,Current Account and Advance GDP.
Wednesday, March 3, 2010
Why Trade Forex
* Take control of your own finances.Beat the returns from mutual funds, hedge funds or managed funds.
* Start-up costs are low when compared with day trading stocks or futures.
* Forex is the world’s largest market. No one can corner the market.
* With a trading volume of around $3.2 trillion dollars a day( Bank for International Settlements April 2007), no single entity can control the market for an extended period of time.
* You can make money when the market is going up or down.
* Forex markets trade 24 hours a day. There is no waiting for the opening bell.
* Technical analysis works very well and the market trends well.
* Forex offers up to 100:1 leverage but it is wise avoid very high leverage if you can afford it. Stocks offer 1:1 or 2:1.Futures offers 15:1 leverage.
* The forex market is the most liquid in the world. Traders can almost always open or close a position at a fair price.
* You can make money working only a few hours a day or week on your computer.
* You can trade from anywhere in the world where there is an internet connection.
* You can gain experience without risking your own money by using a free demo account.
* When trading stocks, there are over 40,000 stocks to choose from. In Day Trading Forex , you can choose one or two currency pairs and focus your analysis.
* Start-up costs are low when compared with day trading stocks or futures.
* Forex is the world’s largest market. No one can corner the market.
* With a trading volume of around $3.2 trillion dollars a day( Bank for International Settlements April 2007), no single entity can control the market for an extended period of time.
* You can make money when the market is going up or down.
* Forex markets trade 24 hours a day. There is no waiting for the opening bell.
* Technical analysis works very well and the market trends well.
* Forex offers up to 100:1 leverage but it is wise avoid very high leverage if you can afford it. Stocks offer 1:1 or 2:1.Futures offers 15:1 leverage.
* The forex market is the most liquid in the world. Traders can almost always open or close a position at a fair price.
* You can make money working only a few hours a day or week on your computer.
* You can trade from anywhere in the world where there is an internet connection.
* You can gain experience without risking your own money by using a free demo account.
* When trading stocks, there are over 40,000 stocks to choose from. In Day Trading Forex , you can choose one or two currency pairs and focus your analysis.
Learn These Forex Trading Strategies and Forex Trading Systems used by Professional Forex Traders
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This is a genuine trading plan, containing everything we know and have learned from the markets. And the best thing is, its simple enough for you to copy every time you make a forex trade..
Lets talk about what might be the best forex training and most complete forex mentoring your ever going to find to make consistant profits ...
This comprehensive trading education course is designed to train forex traders to read price action and trade the forex market like real professionals. Your going to learn From Real Traders who have been trading for almost a decade, experience counts in this business.
Does your trading system lose money? Its time for a huge change in your trading!. Join the group that make money consistently. If you’re a beginner and don’t know where to start, try thee daily forex trading strategies first. Stop looking for perfect mechanical forex system, and learn to read raw price action.
Maybe you’ve bought a forex system or used a trading strategy before and your trading results still weren’t up to scratch, most likely because they where useless curve fitted systems that have no use in real world trading. The con artists all over the internet never tell you the truth, back tested results are useless!.
It's time to learn a real forex tading method based on pure price patterns which is simple and effective. ...
This ebook is filled with solid forex strategies, similar to those used by banks and financial institutions. It's going to teach you powerfull trading setups, which we have used to profit considerably and consistently. We dont teach a bogus one hit wonder forex system, We are talking about you going away from this ebook with a concrete plan of action , powerfull forex system in hand, ready to make serious money. You will have unlikley seen these trading strategies taught anywhere.
This is a genuine trading plan, containing everything we know and have learned from the markets. And the best thing is, its simple enough for you to copy every time you make a forex trade..
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