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Keep in mind the timeliness of the reports you read. A lot of this stuff has already occurred and the market has already adjusted prices to take the report into account. If the market has already made its move, you might have to adjust your thinking and current strategy. Keep tabs on just how old this news is or you’ll find yourself “yesterday’s news.”

You also have to be able to determine whether the forex news you’re dealing with is fact or fiction, rumor or opinion. After all, the goal is usually to derive a prediction and then benefit from future price movements.

News Moves Fundamentals and Fundamentals Move Currency Pairs

A quick Yahoogleing (that’s Yahoo, Google, plus Bing) search of “forex + news” or “forex + data” returns a measly 30 million results combined.

There’s just way too much information to try to process and way too many things to confuse any newbie forex trader. That’s some insane information overload if we’ve ever seen it.

But information is king when it comes to making successful trades.

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 forex traders weren’t born successful. 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.

Acquiring Market Information Tips

1)Traditional Financial News Sources

While there are tons of financial