Forex News Important and Forex News Websites

1.Forex News Websites.

It is mandatory to stay updated with forex news if you want to become a successful trader.There are plenty of news regarding every currency coming daily.These news put a reasonable impact on currency rate.For example,If EURO is being traded around a rate and suddenly European Central bank decreases its interest rate on EURO,the rate will fall in seconds.If you were logged on to news and you put a sell order right in time,you can make much profit within seconds by selling EURO.Such important news are Jobs Data,Retail Sales,Bank meetings and many others which put a great impact on currency rate.

2.Good Forex Traders Watch News

All good Forex traders keep a close eye on news and even pay a lot of money to stay updated with news.There are a few good websites which offer forex news for free.Today,we will discuss a few Forex News websites which update their news quickly.These sites also provide a good analysis of currencies and articles about Forex which can help a trader to get aid.We can plan our trading after reading those articles.The top three sites for For Forex News are

1.www.Investing.com

2.www.dailyfx.com

3.www.forexcrunch.com

We will discuss www.investing.com here.It is a great website which offers a nice Economic Calendar.This Calendar contains news and events schedule alongwith forecasts.you can simply click the link of economic calendar and check the upcoming events.Moreover,the results are updated within few seconds after the release of news data.check Pictures below.

Bases things For Forex trading

Choice of Broker

A good broker is the one who doesn't charge any commission from you.All good brokers always try to earn money through spreads and they don't charge any commission from traders.For example,A broker who charges some commission whenever you place an order,either you get profit or losses he will charge a fix amount as commission.While,Good brokers always try to make money through spreads difference.The amount of difference between sell and buy price is called spread and lowest spread is always best for you.Try to select a broker without commissions and also with low spreads like Instaforex,etoro and Avafx.They don't charge any commission on placing Forex orders.


Trading Personality

The most important thing while trading is the determination of your personality.You have to trade as per your personality.If you have a quicky type personality and you can't sit for hours watching your trades going for losses,then short entry or day trading is best for you.It is also called scalping.Scalping should be done after trend finding.If some currency pair is moving in uptrend from past two hours or the whole day,you must buy it along the trend but buy when it has come below the top point of those two hours or the day.Always pay attention that no news is coming about that currency during that time. If a currency pair is going in downtrend,selling that at the top point of the day or hour would bring profits for you.

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