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Using the FPA Daily Signals?

Discussion in 'General Forex Talk' started by sergiel, Jan 27, 2009.

  1. sergiel

    sergiel Private, 1st Class

    Joined:
    Jan 26, 2009
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    Hello all, I have been dabbling with Forex demo accounts off and on for a couple years but I'll be the first to admit I am completely green. I posted this question in the BootCamp section as well because I wasn't sure which room was more applicable.

    I checked out the free signal for the first time today but have to admit I am a little lost already.

    They provided a recommendation baded on pending financial news regarding the GER IFO and AU CPI. He provided the expected numbers, but I am a little confused on where Forum members are going to retrieve this information when it is released.

    Is there a standard financial news website that members are referring to? Can this info be retrieved from the FPA Forex News Calendar as it is released or will the info be to old to be used by the time it is up on the site?

    Once I have this info, eg. Actual Ger IFO is 83, 2 points higher then expected 81, if I am correct in interpreting the signal this morning, the EUR should fakeout or spike, because it only deviated by 2 points. So the suggested method is to wait for the spke to peak and then sell. Are there any suggestions for us newbies on what to look for to determine when the spike has peaked? I noticed a trader lost 2K getting in at the wrong time (comments after the signal).


    Thanks in advance for any help you can provide.

    Serge
     

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