200 sma is used as a bias reference, PA above bullish, PA below bearish.
I have a nice list of news sites but they are not real time, so I guess is not what you are looking for…
Nurhakim, I don’t use ANY squiggle lines on my charts. Moving averages of any sort squiggle, so I don’t use them. If I were to use them, it would only be to know where other traders are putting their stops.
By the way…of these so called “experts”…how many of them trade full time for a living? I would use this as a standard before calling anyone an expert.
IFR markets is a good news source, along with Dow Jones. Look around, u should be able to get a datafeed for between $150-$300… though I can’t say I use it on a regular basis… I pretty much use previous market turning points to determine 90% of my trades.
Jay
I dont know who told you that using indicators will allow you to enter FASTER than others. Considering that ALL indicators lag price. Its just the way they work, they require price to move in order for them to calculate their new relative positions to how price has moved. Price is the only real time “indicator.” If you look at how price moved i would guess that there was already some ‘hook’ in price before stoch or MACD give you an entry signal. But thats not really my point.
I personally use IFR, dow jones, 4cast and UBS live feeds. They are very good and help me make trading decisions on a daily basis. I also have Bloomberg TV and other squawk boxes on. However there is so much information out there, if you haven’t practiced how to filter out the info to find “EXACTLY” what bits of information that are important then you will be swimming in a sea of useless information. Now i would never go back to trading with out the feeds.
My opinion would be pick 1 text feed, 1 video and if you want include a news paper (this is what the slow masses are seeing). I like financial times personally, WSJ is fine as well. Start there learn see the changes in fundamentals, meetings, speeches and other events and their effects on market sentiment and how that affects price. Stick to monitoring 1 market IE Europe or UK for fiber or cable. Write down for the day what current sentiment is and what events coming up in the next day or 2 could change that.
thanks for that info. but really i would be more than happy if you could share your news sites.
I trade with Oanda, they have news feed as MeiHua said…, dowjones, UBS, 4cast and IFR. I think when you apply to demo you have access to its feeds…
But in the net you can go to:
Global Markets News | Reuters.com
OANDA News Aggregator
eFXnews : Daily Forex Report | Currency Trading News | Forex Market Research
MarketWatch - Stock Market Quotes, Business News, Financial News
News - Forex News, Forex Trading News | IBTimesFX
and the best:
ZeroHedge | On a long enough timeline the survival rate for everyone drops to zero
Use these sites carefully, for example Marketwatch tends to be market bullish as opposed to ZeroHedge that usually is bearish.
Use the info just for your long term bias…
i read news from daily fx, forexfactory and this site ( i like this one specielly because they explain everithing and i can have the chance to ask if i dont understand (noob here)
as for real tiem news i have used a demo o tradethenews_com its awesome, real time and i guess cheap. 70 us monthly. you need a linkdin account to start.
im not using their services, right now becouse i need more knowledge to undertand what concecuences do any news have on market.
What was the name of the company running this course, so that other newbies can take note?