Forex market news is news regarding businesses, economic situations and political actions that will have a potentially solid impact on one or more of the major currencies being traded in the Forex market. Market news can be a very useful tool for any trader but it has proven to be more valuable for seasoned traders. The reason for this is simple, experienced traders have a much better understanding of the specific news feeds and how each one will effect the Forex market as well as the respective currency pairs which they are trading. Newer traders have much more difficult time interpreting news feeds simply because many new traders have trouble realizing the effect that a specific piece of news will have on trends and market conditions.
Instead of market news feeds, there is a solution that is generally much more effective for helping more inexperienced traders executive profitable trades, an automated signal service.
Automated Trading Signals
Automated signal services, also known as Forex trading systems, can provide a solution for traders who aren’t yet ready to successfully interpret market news feeds and advanced charts. Most signal services provide trading signals by email, sms text message, pop-upsoftware, or other more advanced methods which the trader can use in order to maximize his or her chances of success. The goal of a signal service is to show you exactly when to open a trade so that you enter the trade at the trend reversal point. Once entered, the trend will rise and, at the highest point of the trend, another signal will be sent telling you to close the trade. This way, the chance of profit maximization increases. Some of the best Forex signal services start at around $149-$300, but there are a few which have promotions running including money saving trial offers.
Whether you trade using market news feeds, automatic signals or your own personal trading strategy, remember that the potential to make money in Forex is endless, never give up and, although losing trades will always be a factor, profitable trades can deliver more return on investment in Forex than any other type of investment available.