Three Ways to Stay on Top of News

Wednesday, 30 March 2011 02:10

News is an integral part of trading, and as every respectable trader, you got to stay on top the events that trigger the market. How to make sure that you don’t miss anything? Were to get the right information, at the right time? Here are three ways to help do that.

Trading News Feeds

If you want to be among the first to receive breaking news related to finance, then nothing beats professional news feeds such as the popular Dow Jones News or Bloomberg Professional. Not only do they deliver reliable news very quickly, but they are also integrated within customizable systems that let you control which news you would like to receive. You also get access to exclusive analyst reports from banks and other market specialists. Dow Jones News is offered for free at many forex brokers, but there exists many alternatives, some of which are free. So look around for these services — using them might just revolutionize the way you trade.

Forex Calendars

A calendar is essential for any forex broker. Forex calendars tell you when economical data is to be released, as well as the forecasted number. The good thing is that many are available for free. The bad thing is that some don’t include all data, and some of them are a bit slow. Nonetheless, a calendar is the first thing you should look at before any trading session — you don’t want to be caught in the middle of an interest rate release!

Finance channels

Finance channels such as CNBC or Bloomberg TV (free on the Bloomberg website) are a good source of information as well. They often diffuse interviews with bank analysts and other strategists which can help you analyse a new trade idea. The coverage of global financial markets on CNBC (covers the Asian session) can be pretty informative for the forex trader on top of being freely available on the CNBC website.