reliable opinions

Hi guys,

I'm a really new forex trader wannabe initiated by a guy who made quite a few money playing the speed news thing. I'm not intending to get very involved in FX because there are other things that I do and I like but I want to play from time to time and eventually win .

I know for a fact that the most important fact in FX are the news which influece the game and I saw that there are few daily news that really move the charts.

I need to know from you if there is any site, blogs etc or any soft that will show the most important news, like the forexfactory page does, but with explanations and eventual opinions of how it will influece .

It can be paid, it can be free the important thing is if you consider it worthy of anything.

Maybe programs like reuters or bloomberg but explained?....

Really appreciate if you can give me a tip like this. Thanks

I think you may have glanced at the calendar which is obvious on the homepage. You need to be reading the News on Forex Factory which is the third tab on the homepage. Well respected pundits write there and you could do a lot worse if you google and find other sites which do essentially the same. Not that I'm biased, of course.

I'm sure if you want to try to trade news release spikes you can surely find some guru out there that will sell you a service that tries to trade that way.

In the early days of retail forex trading there was a way to straddle the market and because brokers were willing to guarantee your stop orders you could actually make some quick money that way. Now the slippage is terrible around news releases and you will just lose your ass if you try that. And as far as predicting the near or long term effect of a single news release on the market you might as well be flipping a coin. The only thing consistent that I have seen about news releases is that they may temporarily jolt price out of line but shortly the trend resumes and overall the news has little effect. But even that is not guaranteed.

My opinion is that "news trading" as a system, is long ago dead and buried. And so will your account be if you try it. But if you just have to prove it to yourself, PLEASE trade with the smallest lot size you can until you see for yourself. And don't expect live trading to be anything like demo.

You say:

I'm not intending to get very involved in FX because there are other things that I do and I like but I want to play from time to time and eventually win .

If you think you can play at trading and eventually win, I suggest you go to the nearest casino to play. Your odds are much better there than in the forex market.

If you want to learn to trade and are willing to do what it takes then FF offers education. That's what I suggest.

If you decide to ignore that and just jump in the market.... well we could use the liquidity.

Good luck,
Dave