Latest forex news and tips?
Wednesday, April 14th, 2010 at
10:04 pm
I am trying to get into the forex market, I would like too know the best site for news and tips.
I am going to be trading GBP.USD.
Tagged with: forex • Latest • News • Tips
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Forex EA
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Hope this helps?
Nope – there are no ‘tips’ that will give you any market edge. Forex is a quick moving market. You have to get a feel for it yourself. Just make yourself aware of the huge economic news days (and time of anouncements) in the US and GB. Know how to read trends and cross your fingers. Forex is not for the faint hearted. I hope you realise what it is you are getting into?
get into this site to download a Free Forex Ebook and browse the pages for the daily and weekly news and all the tools needed to learn and analyse forex trends. open an account (mini, gold,platinum, vip) and you will be provided a personal Account Service Manager to be your consultant, mentor and trading partner with whom you can talk live over the phone, email or chat and discuss anything of value when it comes to profitable forex dealings. all the best
You’re looking for tips in the FX market…………… your question indicates that you believe someone can give you a “tip” on how to be successful…… well here it is.
Work hard. Take 2-3 years to learn “Technical Analysis”. Spend as much time understanding the critical importance of “Money Management”. Paper trade with the understanding that the results mean nothing…. but it will aclamate you to a trading platform and some feel for technical analysis.
Know that there is no guru, software or alert service that will make you money.
BTW: Do you have a clue on how much Volitility there is in the GBP/USD pair….. a whole lot more than many other major pairs. This would have to be your first really terrible choice.
Know….. 96% of those that try FX trading stop after 4-6 months (because of large losses). Most have no plans when they trade & certainly don’t use money management techniques.
Jonoeckley,
I reckon you have chosen the perfect pair to get started trading in the Forex market. The GBP/USD is more consistent and predictable than many of the other pairs. With the right strategy, knowledge, money management, and attitude you should be fine. It is right that Forex is not for the faint of heart but you CAN be successful trading Forex.
As for excellent sites for tips, news, analysis:
I use bloomberg for my economic news. Keep in mind – I trade a longer term strategy that is not significantly affected by intraday news releases so Bloomberg works for me. If you plot to scalp you will need a source to give up to the second news as well as an “economic calendar”. I recommend forexfactory but there are plenty of others. Just google forex economic calendar.
As for analysis, I like fxstreet. It is free and has decent content. But, what you will quickly learn is to not give into the hype. You will find that one analyst will say one thing and another will entirely contradict the first. Read with an open mind and then use your own knowledge to choose how you react.
And for where to find excellent tips…that is a hard one. Most tips are trading system specific and may not be right for you. But, probably the best way to get trading tips is by joining a free Forex traders forum. I like forexfactory, fxfisherman, or babypip’s forum. Just google any of those three.
Excellent luck! Don’t let the naysayers get you down. Forex is not simple and many DO lose their money. But it sounds like you are taking the proper time to learn and become a successful trader.