Forex How to

such as the unemployment data for the us on friday which caused the dollar ot spike up as much as 2 percent in a matter of hours, what other important news dates hugely affect the forex market? (unemployment, interest rates etc)

This is so called fundamental analysis in forex trading. The two main factors are the interest rates and economical performance.

In each economic indicator, like the gross national product, foreign capital inflow or perhaps the international trade representative are the national economical performance, also decides the national currency supplies and demand.

http://www.forex2u.com/fundamental-analy…

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.

Jonoeckley,

I think 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 true that Forex is not for the faint of heart but you CAN be successful trading Forex.

As for good 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 plan 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. However, 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 good tips…that is a hard one. Most tips are trading system specific and may not be right for you. However, 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.

Good luck! Don’t let the naysayers get you down. Forex is not easy and many DO lose their money. But it sounds like you are taking the proper time to learn and become a successful trader.

Using the Mtpredictor’s technical analysis Elliot Wave Principle software, Bsmtprediction provides Forex Traders with FREE access to AUD/USD, EUR/GBP, GBP/USD, EUR/USD, NZD/USD, USD/CAD, USD/CHF, EUR/JPY, GBP/JPY & USD/JPY daily currency forecasts through this website. At Any Time / Any Day (we’ll straight away post the signals here in real-time if there’s any triggered) 1 hour, 4 hours & daily time frame forecasts are published on this site. The predictions are good from the moment they are published until either it reached the take profit target, hitted the stop loss or another new prediction of the same currency & timeframe unveils on the same / following day. Essentially, the prices shown are for an unknown period.. That’s why we encourage you to subscribe our FREE Google Groups newsletter to get the latest signal updates sent to your e-mail from the very 1st minute it surfaces the net..

I’ve opened an account on GFT, but when trading the news there is a huge slippage between the stop buy price I wanted & the execution price. GFT has a dealing desk.

So, what are the best forex brokers for trading the news ?

Thank you !

For accurate and reliable market tips and daily updates Finexo is the best. Many of my friends suggested me this when i was a newbie in Forex trading. Since then my dealer is providing me with the most accurate tips, market updates and charts so that i can make optimum use of these. It has fetched me 99% of returns on my investment.

Many other qualities like user friendly platform, easy forex glossary, well managed accounts, charts and economic calender have made Finexo unique.

tradethenews.com is the best source for news info and instant news releases.

Paul