trade the news---are they effective?

[xxfunguyxx]

A lot of people have suggested for me to use trade the news as a poor man's way of effecitive fundamental infos...should I and if I do, why are they useful...thanks

[PipHunterE]

Originally Posted by xxfunguyxx

A lot of people have suggested for me to use trade the news as a poor man's way of effecitive fundamental infos...should I and if I do, why are they useful...thanks

I'm only a week+ into using them, and I can tell you that if you've ever sat looking at your charts and noticed a big raise in the dollar across all pairs... And you've checked your calendar @ babypips or Forex Factory, and no news is listed for that time... chances are, SOMETHING probably happened in the world. Last week for example, The nut case running North Korea fired off some more missiles. I saw the U.S. dollar strengthen against all currency when this happened. Without TTN I'd have had no idea. Other news services would certainly pick it up eventually, and you could find out by other means. But they really do hit you with the news when it is happening, and seconds (or minutes for sure) count if you're going to try to news trade. I'm a huge fan already.

Earlier tonight they were giving BOJ Governor Fukui's comments as he was making them. Unfortunately I was set up for trading the USD/CHF retail sales number, and not Fukui's comments. NOTHING happened with the CHF Retails sales despite them sucking badly, and Fukui's dovish stance sent all Yen pairs to the moon. Practice and learn lol.

If you decide to use TTN, check forexbastards.com. As long as Felix still has his deal with TTN, you can get 30% off the monthly rate.

They also offer a week free trial without having to give them a dime, so if you want to check it out that way you can. I did.

It really is very good. They're very professional, and very timely. They prep you in the upcoming minutes and seconds before the release.

Best regards.