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Please help: Where do you get fundamental news on top of the EC?

  • #1
  • First Post: Dec 20, 2012 9:32am Dec 20, 2012 9:32am
I took a beating for trading JPY pairs and failing to take notice the election in Japan and their government intervention last week.

I want to learn from my lesson. Is there a website/source/feeds that gives you complete forex news on top of the economic calendar? e.g. in this case, they tell you the possible intervention and the upcoming general election.

I know I have to keep up to date with the general news, but everyone know for forex purposes, the news from the mainstream media is very lagging. They only tell you when things have happened.

What do you guys use for news and market sentiment?

Many thanks in advance for sharing.
  • #2
  • Dec 20, 2012 5:14pm Dec 20, 2012 5:14pm
You didn't notice the News tab at the top of this website? It has a pretty decent coverage of breaking news. and a lot of the other stuff you want from "non-mainstream" sources.

Impending elections are not, of course, breaking news. It's been on the news for WEEKS, if not months.

For market sentiment, there's always the Positions widget in the Trades tab above.

I personally don't track market sentiment as I trade mostly breakouts so I don't let sentiment color my judgment.
I'm not trying to convince anyone. I'm not in the "convincing" business.
  • #3
  • Dec 20, 2012 5:50pm Dec 20, 2012 5:50pm
http://www.forexlive.com/
  • #4
  • Dec 21, 2012 1:28am Dec 21, 2012 1:28am
Thank you kindly FxCross and skenobi.

I'm still a noob and relying too heavily on indicators =)

1) So is our routine now supposed to be checking out EC, News, and sentiment on a daily basis? And say if I want to know which country will be having an election soon and whether a country is about to do intervention, I should be able to pick it up from these sources right?

2) And you know with that market sentiment, are they really the reflection of real trades made by the retail traders, or is it just their opinions? And is there a way to see the market sentiment of the big players?

3) I've been checking out your suggestions, I guess one other thing that concerns me is the interpretation of forex news, which is a bit harder than interpreting mainstream news IMHO. I know this is pretty much the art of forex, traders always have conflicting bullish and bearish biases, but how are you supposed to holistically understand and interpret the forex news?

Would appreciate your help. Many thanks guys.
  • #5
  • Dec 21, 2012 2:47am Dec 21, 2012 2:47am
Quoting Ishtana
I'm still a noob and relying too heavily on indicators =)
Relying too heavily on indicators is only half as bad as relying on fundamentals, IMHO.

Quoting Ishtana
1) So is our routine now supposed to be checking out EC, News, and sentiment on a daily basis?
You make it sound like a chore. Being aware of the news should be as natural as breathing. And I'm saying this even tho I don't trade the news.

Quoting Ishtana
And say if I want to know which country will be having an election soon and whether a country is about to do intervention, I should be able to pick it up from these sources right?
The short answer is yes. Except for the intervention info which you'll never know until after the fact.

Quoting Ishtana
2) And you know with that market sentiment, are they really the reflection of real trades made by the retail traders, or is it just their opinions?
Maybe. And even if the answer is not yes for certain currency pairs, doesn't mean you can't trade against them. You should develop your own opinion.

Quoting Ishtana
And is there a way to see the market sentiment of the big players?
The sentiment is in the price, mate.

Quoting Ishtana
3) I've been checking out your suggestions, I guess one other thing that concerns me is the interpretation of forex news, which is a bit harder than interpreting mainstream news IMHO. I know this is pretty much the art of forex, traders always have conflicting bullish and bearish biases, but how are you supposed to holistically understand and interpret the forex news?
Why wrack your brains trying to interpret the news? You should only pay attention to the REACTIONS to the news.

Try waiting half an hour after a news release. If the news was supposedly "bullish" but the price move 30min afterwards was "bearish", would you still want to go long?

I'm not suggesting you actually trade this way but my point is that the market will go where it wants to go.
I'm not trying to convince anyone. I'm not in the "convincing" business.
  • #6
  • Dec 26, 2012 11:11am Dec 26, 2012 11:11am
I see, so you're not suppose to predict price movement prior to news release, but to trade based on news reaction. You're only responding instead of anticipating as most traders do. I'll keep that in mind skenobi. Thanks.

And also, can we confirm that the only thing that cannot be predicted in terms of fundamental news movement is government intervention? Hm... I always knew that forex is a game that big players play and contrary to common belief, I think there is such thing as forex insider trading. I bet every member of BOJ who knew about the intervention bought all JPY pairs minutes before the actual intervention.
  • #7
  • Last Post: Dec 26, 2012 4:53pm Dec 26, 2012 4:53pm
Quoting Ishtana
I see, so you're not suppose to predict price movement prior to news release, but to trade based on news reaction. You're only responding instead of anticipating as most traders do. I'll keep that in mind skenobi. Thanks.
I prefer not to say "you're supposed to". Prefer not to knock somebody else's way of making money (even tho that's what I seem to be doing LOL).

I personally know people who can and do predict price motion prior to events and they seem to have a talent for it. What I can say is that if you don't have a talent for predicting, maybe you should try something else.

Quoting Ishtana
And also, can we confirm that the only thing that cannot be predicted in terms of fundamental news movement is government intervention? Hm... I always knew that forex is a game that big players play and contrary to common belief, I think there is such thing as forex insider trading. I bet every member of BOJ who knew about the intervention bought all JPY pairs minutes before the actual intervention.
You're absolutely right. But let me ask you this: Now that you know there is insider trading going on, so what? Complaining about it doesn't help you make money, does it?

Focus on what you CAN control rather than bother with things you CANNOT control, like Japanese central bankers.
I'm not trying to convince anyone. I'm not in the "convincing" business.
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