Please help a newb!!!

[newbie111]

Hi, can someone tell me if i'm on the right track.

I go FOREX FACTORY factory and check the news feeds and for an example. Today on the Euro the head line for 3:00 am read.

 

(French Flash Manufacturing PMI)

Now I personally have no idea what this means, but when I click on the (More Details) link, it reads.

 

(Usual Effect Actual > Forecast = Good for currency)

 

So I take this as an indication that the EUR/USD will

rise in price, and between 2:00 and 3:00 am New York time, the EUR/USD actually rose from 1.4241 to

1.4300. Now I am thinking that it could no possibly be this easy. Cam someone please help me by guiding me on how to interpret the currency news and especially where and how to get the major reports in real time such as the non farm payroll.

Your help would be greatly appreciated.

[forex4love]

Re: Please help a newb!!!

 

Hi, can someone tell me if i'm on the right track.

I go FOREX FACTORY factory and check the news feeds and for an example. Today on the Euro the head line for 3:00 am read.

 

(French Flash Manufacturing PMI)

Now I personally have no idea what this means, but when I click on the (More Details) link, it reads.

 

(Usual Effect Actual > Forecast = Good for currency)

 

So I take this as an indication that the EUR/USD will

rise in price, and between 2:00 and 3:00 am New York time, the EUR/USD actually rose from 1.4241 to

1.4300. Now I am thinking that it could no possibly be this easy. Cam someone please help me by guiding me on how to interpret the currency news and especially where and how to get the major reports in real time such as the non farm payroll.

Your help would be greatly appreciated.

 

For major reports in real time such as the non farm payroll with Free, in here:

 

You can find in

http://www.forexfactory.com

or you can find in

http://www.dailyfx.com 

for news and click Calendar menu for see news realease.

You can find in

 [url]http://www.fxstreet.com[/url]

too for other choice or

http://www.bloomberg.com 

 

For major reports in real time such as the non farm payroll with Cost, in here:

http://www.forexdiamonds.com

 

For major reports for comment, analysis, market issue and all, in here:

http://www.fxstreet.com

that Premium

 

How to interpret the currency news => You must see news from day by day, follow it, read comment and analysis in

Dailyfx Website or FXStreet Website, self descibes, self interpretes, and next you will be find for the best entry in the markets.

 

Good luck Newb... :)>-

[imatache]

Re: Please help a newb!!!

 

The way I read Actual > Forecast = Good for currency is the following: if we get USD bullish news (Actual > Forecast), then USD strengthens agains EUR, then EURUSD pair will actually drop, because there's less dollars for the same euro.

[100pips]

Re: Please help a newb!!!

 

One of the methods I know is to trade to place 2 pending trades 30 pips apart before the NFP. The idea is that once the trade is triggered it will continue in that direction. Just an idea for you to consider, please do your own DD.

[forex4love]

Re: Please help a newb!!!

 

One of the methods I know is to trade to place 2 pending trades 30 pips apart before the NFP. The idea is that once the trade is triggered it will continue in that direction. Just an idea for you to consider, please do your own DD.

 

Be careful, this method does not always gain. Please review chart EUR/USD for NFP yesterday, very fast chart break down 50-60 pips so Up 100-130 pips, if you use this method you will be big lost because your all stop loss will be triggered.

[newbie111]

Re: Please help a newb!!!

 

Thank you everyone, I am monitoring the news at the sites listed above and watching the pairs as news comes across the board. I will let you know of my progress as soon as I develop a more stable way of monitoring both.

[crips]

Re: Please help a newb!!!

 

I do not know how long have you been trading forex but as you state help newb my quess is that not for long. My advise would be that stay away from news. News trading I think is most dangerous thing to do. Majority of traders do not trade around important news cos at that time price can spike in any direction and the way it goes first may not be the predicted way. As I have been writing here somwhere in the forum already currencies do not react to the news any more as they should. For excample bad news for dollar shoul dnormaly mean that euro is geting stronger and dollar waker and when trading eur/usd that should mean thet price goes up but in reality during last year it have gone oposite way too many time too offten.

[alansim]

Re: Please help a newb!!!

 

Kudos to forex4love for your Great Detail Reply...

 

Thank u.... :)

[arnaudbzh]

http://www.forexfactory.com

http://www.bloomberg.com

[wirefax]

Hi, guys

Where can I find the most current news and operational?*

[iqofgenius]

Wirefax, check out Oanda, they have the best newsfeed for free that I know of right on their platform.

Newb, stay away from news. DO NOT trade within 30 minutes of a news event until you get months of successful experience behind you

[wirefax]

Tnx iqofgenius)