Why Forex News Is Important To Your Forex Trading Sucess

Forex News Is Important To Your Forex Trading Success. In the first article we wrote, that “the traders who earn the most money are those…who are more attentive to day-to-day events.” It’s because? Because News allows you to predict market movements. That is to say, with the news, it is possible to know if a currency will appreciate or depreciate. This feeling is acquired with time and training.

And naturally it should be relevant news, such as the effect of a pandemic on the economy, the unemployment rate in a particular country, or even a war between countries, an earthquake in another country etc. To this news analysis, we call it Fundamental Analysis. We should not despise Technical Analysis, which is the analysis of charts. Both analyzes have to be done together, so that this information allows the forex trader to orient himself for the correct decision making, just as a pilot guides himself through instruments to guide the plane. It is noticed that the absence of information, or incorrect information, can result in in wrong trades with big losses.

Relevant news related tips

Technology, the internet and other factors allow world news affecting currency markets to be released globally in a fraction of a second. Therefore, the impact on the international market is immediate. It is essential that you get the forex information on time to react appropriately. And you must get this information from reliable sources, since today there is a large volume of information, which can be beneficial, but it can be harmful.

The news makes the forex market very volatile (the volatility is a result of institutions deciding where to place their long term orders and for the market to find an equilibrium price), mainly news related to business, stocks, economy and politics from any part of the world. Focus on the news that will impact the currency pair that you are trading (or the pairs) and based on them, decide whether it is better to buy, sell or not carry out any trades that day. Don’t worry because relevant news are released many times during the month. It is worth mentioning that there are traders who buy and sell currency before the release of the news and others who carry out such operations after the release of the news.

Conclusion

Forex News Is Important To Your Forex Trading Success. Don’t go into forex trading without first having all the necessary information. This will increase your chances of making short, medium and/or long-term profits.