Forex Fortunes - Use The News
In my time as a trader, I have never seen the benefit of announcements as being that great for off-the-floor traders. Generally anything you hear in the news is old information in the trading game, because the floor traders have access to it before everyone else. Often the traders on the floor have already established the correct positions, before the announcement is made. This puts the public trader at a disadvantage. The forex market has come along and changed that, because there is no trading floor, so everyone receives the information at the same time. This creates an even playing field for everyone. There are several announcements that are made each month, that forex traders can use to their advantage. Since everyone gets the info. at the same time, its like being on the floor yourself. Some of the announcements that are beneficial to traders, are unemployment, interest rates, inflation, GDP, and the consumer price index. There are others, and you have to also consider announcements by other countries. Using these announcements can be very beneficial to the part-time trader. Often part-time traders do not have time to study the markets, but they can take advantage of the reactions to these announcements if they know how.
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