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Chapter 21, Part VI. News Impact.

Discussion in 'Complete Trading Education- Forex Military School' started by Administrator, Dec 22, 2011.

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  1. Administrator

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    Part VI. News Impact. [​IMG]

    Commander in Pips: Financial and political news are extremely important for the Forex market. That’s why despite how small a broker is, it usually has online FX news update via the trading terminal or on its website. The point is that news moves markets – news changes fundamentals, and they, in turn, change price. One of the major components for profitable trading is information. Since you also want to make as much profit from your trading as possible, you also have to deal with information. But how – it’s too much information and they are very different. You will have to spend all day just to catch it, but when we can trade then?

    [​IMG]

    Successful traders are not prophets, they can’t foresee the future, but they have some kind of a filter that lets them drive inside the huge flow of news, events and information. This filter saves their time and lets them extract from thick blur flow of information those pieces of news that are really important and could be useful currently to make proper trading decisions.

    Pipruit: Well, that’s great, but before separate something, I need to find information sources. Where I can find information at all?
    Commander in Pips: Well, that question could have seemed reasonable in the 1960s, but currently it’s a bit curious. There are huge resources of information, both electronic as printed. First place, of course, belongs to the internet. There is a great amount of resources – different sites, media pages, online translations and others. They could be as free as on paying basis. Second place is the old & kind TV – CNBC, Bloomberg, news channels etc. And the last but not least, very expensive online software that also includes a super news module that you can see almost second to second, when they just have been released – Bloomberg, Thomson-Reuters, CQG and some others.
     
    #1 Administrator, Dec 22, 2011
    Lasted edited by : Sep 25, 2016
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