It turns out that a person who came to Forex is going through certain milestones on the way of his transformation from a nothing that does not understand a beginner to a successful currency trader. If you do not go deep into details, you can say that most successful speculators start with attempts to trade within a day, use technical analysis, study hundreds of indicators and so on. Then at some stage they understand the futility of this approach and begin to work on long timeframes in a more relaxed mode, getting the infrequent, but more accurate signals for entering and leaving the market. After this, as a rule, the next step of the trader’s evolution is trading on Forex on news, which is based on fundamental analysis.
Yes, before this stage few people reach, because for most people Forex is something like a field of miracles, where it is enough to place one order in any direction, so as to wake up rich in the morning. Unfortunately, the lot of such “grief-traders” is solid failures and disappointments. While people who have given enough time to learn the principles of the functioning of the interbank market and the factors that sharply and strongly affect quotes, quietly sip their own cocktails on exotic islands, paying only a little time to study the price chart on their laptop’s monitor and only then , when it really is necessary. How can we achieve this? The answer is simple you need to study macroeconomics in order to understand the interrelation of its indicators and earn well, trading in Forex news and Forex news.
Everyone who has already imagined that after reading a book on macroeconomics, you can immediately earn a lot of money, you need to warn in practice, you need to know a lot of trifles, without which it will be impossible to achieve such a goal. Having mastered the theory, it is necessary to proceed directly to the Forex trading itself only after choosing the appropriate broker. And here it is not enough just to learn the best rating of Forex brokers. It is important to choose among all the companies represented there that will allow you to trade on Forex news. Yes Yes exactly. Not every broker positively looks at how a lot of traders open orders in a single moment in one direction after the release of the important economic news, while earning good profits.
Most important news topics
Having decided what countries are in the priority for studying, you need to look at what kind of news should be constantly in the focus of the trader, who carries out successful trading on Forex news. Of particular importance in news feeds, as can be seen from the allocation of “bold” font, is information about the US Federal Reserve System (FRS) and its monetary policy.
In simple terms, the Fed each month prints 85 billion dollars and pushes them into the economy. These funds are primarily grown in the US stock market, but the echoes of this phenomenon are also clearly visible in the stock markets of many other countries, so when the head of the Federal Reserve or its representatives speak, all traders try to catch a hint that will tell what the Federal System intends to do.