A quick Yahoogleing (that's Yahoo, Google, plus Bing) search of "forex + news" or "forex + data" returns a measly 30 million results combined.
30 MILLION! That's right! No wonder you're here to get some education! There's just way too much information to try to process and way too many things to confuse any newbie trader. That's some insane information overload if we've ever seen it.
But information is king when it comes to making successful trades.
Price moves because of all of this information: economic reports, a new central bank chairperson, and interest rate changes.
News moves fundamentals and fundamentals move currency pairs!
It's your goal to make successful trades and that becomes a lot easier when you know why price is moving that way it is. Successful traders weren't born successful; they were taught or they learned.
Successful traders don't have mystical powers (well, except for Pipcrawler, but he's more weird than he is mystical) and they can't see the future.
What they can do is see through the blur that is forex news and data, pick what's important to traders at the moment, and make the right trading decisions.
Where to Go for Market Information
Market news and data is made available to you through a multitude of sources.
The internet is the obvious winner in our book, as it provides a wealth of options, at the speed of light, directly to your screen, with access from almost anywhere in the world. But don't forget about print media and the good old tube sitting in your living room or kitchen.
Individual traders will be amazed at the sheer number of currency-specific websites, services, and TV programming available to them. Most of them are free of charge, while you may have to pay for some of the others. Let's go over our favorites to help you get started.
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