Hello
Where is the best place for forex news for a beginner?
Ive tried fxstreet and dailyfx they both look very messy to me.
Thanks
trading the news is dangerous!!!
Why is that?
I just want to start reading it so I know when my indicators are lying :mad:
Indicators compute data all the same and won’t change regardless of the externals surrounding it. Price is the only thing that can cause a change in indicators. It’s what price is telling you today, that will dictate what the indicator will tell you tomorrow.
So in an essence, the indicator can’t lie as it’s a story already told.
That being said, news and indicators don’t mesh well as the indicators cannot react to what the news is going to be. News comes, price reacts, the indicator adjusts as the next candle opens up.
If you intend to trade the news, which I urge you to not do being a beginner, do it without relying on indicators.
[B]mastergunner has just posted the best advice seen on this forum in months.[/B]
Every newbie should print his post, and tape the printout to your monitor.
If you don’t understand the points he is making about the nature of indicators, start studying this subject — and don’t stop studying until you thoroughly understand these concepts.
If you don’t understand his advice to AVOID TRADING NEWS, then you will probably have to learn a tough lesson the hard way. Trading the news is a crap-shoot, especially for newbies. If shooting craps is really what you want to do, then maybe the forex market is not where you belong.