I’m currently looking for the best free economics/ Forex news source. I just went to dailyfx to see if they covered the US steel and aluminium tax news but they didn’t.
I may be wrong but I assume that it’s a poor news website because the $US lost much value just after that news. Anybody got a good website where you have all the news that can impact price fluctuations? Thank you.
Also, I’m trying to see how different types of news affect different currencies, so if a website have a news archive, that would be great.
what he means is… there is a lot of BS out there and you can’t trust the news completely
that is what he meant
obviously you want to know about the news… right ?
but obviously YOU BELIEVE that if you interpret the news correctly you’ll be winning at forex.
No Mate, Not Quite
you have to remember that markets are driven by sentiment as well, if news feeds can create emotions to make people do things , why would they not
other times you gotta consider, do they even know what they are talking about
News has to be taken with discretion, depending on the source
With thanks to @anon81929759 for trying to interpret what I said, What I am really saying is that there is so much “News” out there, that little of it has any effect at all. Mostly the reporting of it is extremely biased to fit the agenda of the “news outlet” and if the price action does not go in the expected direction of the “News”, the Analysts and Commentators will look arounfd until they find something.
No matter how obscure that “something” may be (Hence my light hearted examples) the "Analysts will grasp it and because they NEED an explanation, they Will use it as an “Expplanation” of unco-operative movements.
The reality is that taxes on alumiinium for example are just not “Interesting enough” to be mainstrem and therefore just get ignored. Hence your quandry.
Now that may be ok - IF you actually know that taxes changed and go looking for it hard enough, you may find it, but I don’t think there are ANY news sources, which have the resources to actually find every bit of what they regard as “obscure” changes.
When prices are rising, “news commentators” will report “News” biased towards being “Good News”. WHan prices are falling, they will report only “Bad News”
At “Tops” all news will be “Great news” and at “Bottoms” all news will be “Bad news”
Human behaviour is very predictable some of the time and is often wrong footed by the “Consensus of opinion” - “Consensus” is a very BAD indicator unless you take a contrarian view !
I’m new to forex trading, transitioning over from trading crypto. In the crypto world, news can have a huge effect on the price, sending it surging up or plummeting down. so a lot of my trading was based around current news and development updates plus TA.
In the forex market, i was under the assumption that the events on the economic calender + TA would be the way to go.
Are you guys implying pure TA is the way to go in Forex?
nothing wrong with that, if that’s what works for you, and as long as you’re aware of the news events taking place at the time, and if any of them are high impact.
nope TA is dead, outside of a few momentum tech runs, best to focus on the real stuff, central bank news. Long Term fundmentals is the way to go, TA is based on price history, and while history always seems to find a way of repeating, the real mover is pending orders. Find the piles and ride with the banks.
Find the strongest Major currency, find the weakest Major currency… Buy the Strong crosses and Sell the Weak crosses… no TA, no Charts,…no Bullshite…no Stress…
90-95% profitable every time… it’s that easy.
Research Currency Strength strategies, find a CSM for your platform and you won’t look back… references all over this forum…
circa, separation of TA and FA is great for debates and discussions, but in the market the separation is without meaning.
I cannot recall his name right now but a well known old time trader (now in the option market) wrote how he spent around 9 years as an analyst using FA only. He said that only when he switched to TA did he start to make money - yet when you read his memory of big trades he recalls the FA aspect.
Maybe some of the older guys here will know his name, bottom line - learn and use both.
Hey @circacrypto When you research Currency Strength strategies you will understand the power of trading with the market and not against it. If you follow the strength and weakness (SW) of the major currencies you will find that TA will confirm what the SW strategy has already shown you.
Some links to start with, but keep looking, there is so much out there on this strategy.
