Retail Sales? Trade Balance? What it means? Newbies ask here. Pros answer here.

Hi,

after jumping into the forex world for a month, i learned many things. My journey is tough and i envision a thread where the learnings of those before us can be passed on.

i will like to focus particularly on economic factors as i find it one of the most complicated facet for newbies . . .

For the new folks, please post your questions here. For the pros, please join me in supporting this thread so that all in FF can benefit!

Go to the calendar, upper left, then click on the news being released and it will give you a short descrtiption. Or buy the book The secrets of economic indicators.

This is a good tip! sometimes, explaining and guidance will help a long way too ...

Ok, why dont i post a question first.. now that the central banks are providing short term loans to mitigate the effects of the fall of lehman etc, what does this mean for the underlying currency? any effects on it and why?

my contribution ..

http://www.pfxglobal.com/

this website has lessons and some analysis .. good for newbies

pros! we need you.. do make this thread useful ! any insights for this?

Great book!!!

hi thanks for gracing this thread.. why dont you share more about why this is good and how it relates to the newbies..


pros anyone for my question??

It is great because it really goes in depth into news releases that are pertinent to trading. It will tell you what it is, some back ground, how to read the actual report when it is released, what it does to the separate markets (equity, bond, currency), and what a trader needs to know about the release. It is a lot more in depth than the bit of info that the ff cal gives you.

thanks!

heres one for all.. In my opinion, if you intend to trade during news, please be careful. Spreads can widen alot and pips can jump in excess of 100.

The strong market driver, human sentiments is at work here. Hence news like, retail sales or non farm payrolls, issues that highlight sentiments can cause quite a stir in the price action.

Tighten up your seat belts and make sure your risk is well managed. If things go wrong, make sure you can live to fight again. Even if you have stop loss, the pips may jump so much that your stop loss is filled at market order instead ( the best available price at the moment ).

To get a heads up on upcoming news, go to the calender and check it out. Expected impacts and forecasts are there too!

May the pips be with you

(pros, pls support this thread for the good of all ! )

1 question.. how good is using SMA 5 and SMA20 as an indicator of buy / sell trends?