Hello boys and girls of babypips, I trade with little to no fundamental knowledge and I feel like I’m doing a disservice to myself by not learning more. So I’ve been browsing this section of the forums to get a better idea of fundamentals.
My questions are;
What other sources can I go to to learn about this stuff?
How can I figure out when a major news release will happen?
How do these reports relate to price action?
mind you, after reading post after post I have an inkling of an idea but I really want to learn more.
Find that out for yourself by studying your lower-time-frame charts (1-minute or 5 minute) around the time of major news releases. Pay special attention to the big movers — Non-Farm Payroll at 8:30 EDT on Friday, May 6, for example.
Get hold of a copy of Kathy Lien’s book [I]Day Trading and Swing Trading the Currency Market - 2nd Edition[/I] (Wiley, 2009). You can probably find a free download on the internet. The book has a lot of useful information on technicals, fundamentals, major market movers, strategies, etc.
Hi Clint, Thank you for taking the time to provide me some links! I’m looking to get a copy of that book right now. I guess I don’t know which are important big news events vs less important ones. On the calendar you gave me I should assume all the red ones have a bigger impact?
And you can filter the list, if you choose to, by clicking on the [B]Filter[/B] tab in the upper right-hand corner of the calendar, and selecting the “expected impact” and/or the specific pairs you want displayed in the calendar.
I don’t filter out anything. But, your preference is entirely up to you.