A quick Yahoogleing (that’s Yahoo, Google, plus Bing) search of “forex + news” or “forex + data” returns a measly 30 million results combined.
30 MILLION! That’s right! No wonder you’re here to get some education!
There’s just way too much information to try to process and way too many things to confuse any newbie forex trader.
That’s some insane information overload if we’ve ever seen it.
But information is king for making successful trades.Currency prices move because of all of this information: economic reports, a new central bank chairperson, and interest rate changes.
News moves fundamentals and fundamentals move currency pairs!
It’s your goal to make successful trades and that becomes a lot easier when you know why the price is moving the way it is. Successful forex traders weren’t born successful; they were taught or learned.
Successful forex traders don’t have mystical powers and they can’t see the future.What they can do is see through the blur that is forex news and data, pick what’s important to traders at the moment, and make the right trading decisions.