If you have been trading the Forex for sometime now, you will realize that price action fluctuates the most usually before and after an economic data release from the world’s major economy such as America, European Union, or Japan. Other times when price action swings in a volatile fashion is during times of political unrest such as the recent Egypt Riot, Greece Fiscal Crisis, or natural disasters as in the case of Japan’s recent massive Tsunami and earthquake off the Northeastern Coast of Sendai.
Whatever the case, staying up to date with current events and being able to interpret them as it relates to the currency market is an important skill that every trader has to develop in order to make sound trading decisions. Because news has such a huge impact to the currency market, sometimes causing pairs to move 60-100 pips in matters of 30 minutes-an hour. Subscribing to a Forex news signal provider can greatly enhance your ability to catch the BIG pips during these massive buy/sell rallies.
Forex News Signal Trading: Where to find them?
If you go to major Forex news services or large popular Forex brokerage, you can usually find a place to subscribe for a Forex news signal trading services for a monthly fee of anywhere $50 and upward. This is beneficial for you as a trader because this allows you to trade along side with a panel of expert analyst as they themselves trade the same recommendation as you and they are working for their company.
How to Trade News Anywhere in the World!
To trade the news, you should go to sites such as Forex factory or any other site that shows the daily, weekly, and monthly economic calender.
The first things you should note for is configuring the time zone to match the time zone you are living in to make sure you are not a few hours behind or few hours ahead when the news get release.
Second thing you should do is pay close attention to the particular countries you are trading your currencies with. In most cases, anything related to America is important because most of the major currencies are pegged to the American dollar as they are the world’s reserve currency therefore whatever the Americans do will have an effect on most currencies on the board.