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  1. #1
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    Real time forex/economic news is important?

    I would like to know, how important do you think is forex/market/economic real time news is while trading and for trading?

    I would like to get your views, please share your views as much as possible atleast with the option mentioning:

    a) Yes, required.
    b) No, not required.
    c) Doesn't matter.

    Please give your views, mentioning your options atleast.

    Thanks.

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  3. #2
    Gold Member Array JimJamBonks's Avatar
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    I subscribe to Tradethenews.com. It's certainly helpful in getting the economic numbers immediately. However 'immediately' still isn't fast enough to give you an edge before the price spikes in reaction to that news. Nonethless TTN do a good job of packaging it for easy digestion so that post-announcement trading can be done. I used to subscribe to their squawk service too but found it too distracting so I downgraded to the text only version.

    The real value of a realtime news service for me is in explaining the weird stuff that happens in the market - be it a careless remark of a central banker, geo-political event, quirky reaction to asset flows, big deviation in earnings figures for large corporates, fat finger trades or whatever. They are all things which can cause price hiccups for short-term traders and it's frustrating not being able to know why they happened. With a news service you at least know 'why', even if you're spiked out. Ultimately I don't make massive use of it but it's worth the $50 per month for the feeling of being 'plugged-in' to what's going on.

    Being as I sound like a salesman for Tradethenews.com (which I'm not) they also do a 7 Day free trial - and all you have to do is give your details without credit card or any further obligations... :o)

  4. #3
    Gold Member Array JimJamBonks's Avatar
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    I've just realised that Tradethenews seem to have changed their requirements for new subscribers.. Nonethless my general points still stand, whatever the provider.

  5. #4
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    in my humble opinion, the only way I use news is to know when it is and not trade it during that time (15min before and 15 min after) or if i am already in a trade, move the SL to Breakeven. Just my 2 cents.

  6. #5
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    I agree with both agni123 and JimJamBonks. You might get stopped out or book profits based on your own technical indicators or tools or systems. But, you would want to know what moved the market up and down. Recently, Broco stopped giving DJ News (No Idea why), I asked their tech support, who have no idea about it. I asked them couple of time, first it was like we will give it in couple of days, then we may not give at all, so they arent clear. So, I started wondering is it just me or there is still a big crowd out there who want to know what the market things (may be after the move, but you would know why). I tried tradethenews, pretty impressive real time updates on the economic data, comments by bankers etc. But, I still miss that read which DJ has like Market Talk and other news/views. This is just my view.

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