Thursday, October 28, 2010
Trading the News in Forex
I saw this post over on Forex Crunch by Yohay saying that forex news trading is a fool's game and that forex news traders have no chance of achieving long term trading success. What a load of garbage, the author has obviously no clue what they are talking about. Of course no forex trading strategy is without risk, however with the right amount of research of previous releases and general idea of financial market sentiment and price flow, forex news trading can give a trader higher probability successful trades than any other forex trading strategy. We go on to notice how the author goes on to promote their own service. Obviously trying to bank traders who are search for info on this highly profitable forex trading strategy.
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Hey Ya'll,
"Which Forex pair and time frame is best to trade" is the frequently asked question and I want do give you the EXPLICIT ANSWER in this comment.
Are you expecting that I am going to say something like EUR/USD on 5-minute time frame or GBP/USD on weekly...? No, it is not so simple, but SIMPLE ENOUGH we can figure it out!
The "PROBLEM" is that markets change over time. If EUR/USD was a well trending currency pair a few years ago, today it is another one.
I actually want to let you know about a SPECIAL INSTRUMENT that I use to find the BEST TRENDING PAIRS among all the Forex pairs.
GET IT HERE: ForexTrendy
The software examines 34 Forex pairs on all time frames from minute to monthly. This way you pick the best trending pair and time frame at the current time.
GET IT HERE: ForexTrendy
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