Whats a reliable source to get news events for forex trading?
thanks,
Use the forex factory, it’s probably the most extensive, mainly due to the fact that they show more news events than on other sites.
Forex Calendar @ Forex Factory
I’d only recommend trading red events, the other colours never really move market much, and unless you’re a pro news trader, it can be difficult to make use of them.
While it is very important to be aware of news releases I would not recommend new traders to trade those events specifically. Not one single person can predict an economic news release so the best you would do is take a 50-50 guess if you plan to open an order right before the release. Keep in mind when what is released cause it will move the price of currencies, but trading news as a sole strategy is not something I would recommend.
I have traded news but it has taken many years to learn the integration of news releases with technical analysis.
I recommend that you start with a demo and learn how to capture the breakouts that occur during and shortly after
the release. Start with the major news: ECB, Fed, BOJ, BoE and see whether you can develop a methodology
before you trade any cash during news.
Grix
hai mblake8, nice too meet u
Hmm, lot of sources bout news and ton of ways to judge that. Everyone had their own analysis bout that. I have one too, and u can reconsider this as ur knowledge.
http://forums.babypips.com/free-forex-trading-systems/50741-spidypips-news-release-system.html#post447872
We can see my journal as my journey with that system. Whenever i get triumph of glory or loss sight of life, we can see that -__- :
http://forums.babypips.com/trade-journals/50742-spidypips-journal-3.html#post467389
Not recommend you to trade news events. But Bloomberg, dailyfx , forex live, etc Provides reliable news. There is a tool called economic calendar. Most of the forex forums offer this economic calendar. Actually that is really easy to identify upcoming news events, what would be the impact if the news event be positive or negative, etc… Hope this helps.