Why is nobody talking about FOMC? | Forex Factory

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Why is nobody talking about FOMC?

  • #1
  • First Post: Jun 16, 2015 7:24pm Jun 16, 2015 7:24pm
Hi, I'm new here and new in trading, and I'd like to know why nobody's talking about FOMC.

In the news it seems pretty important.

http://www.dailyfx.com/forex/fundame...C-Meeting.html
A good strategy for trading is... the opposite of having a bad strategy.
  • #2
  • Jun 16, 2015 7:51pm Jun 16, 2015 7:51pm
Quoting PowerTrade
Hi, I'm new here and new in trading, and I'd like to know why nobody's talking about FOMC. In the news it seems pretty important. http://www.dailyfx.com/forex/fundame...C-Meeting.html
Trade based on your system rules not FOMC or NFP!
No one know what fed will decide so why should anybody talk about something that they don't know anything about it?
Without an edge MM is useless!
  • #3
  • Jun 16, 2015 9:37pm Jun 16, 2015 9:37pm
Quoting PowerTrade
Hi, I'm new here and new in trading, and I'd like to know why nobody's talking about FOMC. In the news it seems pretty important. http://www.dailyfx.com/forex/fundame...C-Meeting.html
It's important enough for me to not trade today, although EURUSD is probably going to go up to Wednesday's high
  • #4
  • Jun 17, 2015 12:23am Jun 17, 2015 12:23am
Quoting afhacker
{quote} Trade based on your system rules not FOMC or NFP! No one know what fed will decide so why should anybody talk about something that they don't know anything about it?
Yep, I guess that's a noob mistake

But I asked because I've been watchin this on the news, and I thought it's a big (BIG) event with an inmediate great impact on markets.
A good strategy for trading is... the opposite of having a bad strategy.
  • #5
  • Jun 17, 2015 12:25am Jun 17, 2015 12:25am
Quoting Stinky
{quote} It's important enough for me to not trade today, although EURUSD is probably going to go up to Wednesday's high
Please, explain to me a little bit, I'm almost a total newbie.

I thought EURUSD was going down, because I've read that FOMC decision will strenght USD.
A good strategy for trading is... the opposite of having a bad strategy.
  • #6
  • Jun 17, 2015 1:09am Jun 17, 2015 1:09am
Quoting PowerTrade
{quote} Please, explain to me a little bit, I'm almost a total newbie. I thought EURUSD was going down, because I've read that FOMC decision will strenght USD.
There is too much uncertainty. When that's the case, traders tend to want to get in at a better price. That's why I think EURUSD will go up to the sell limits, then down if the Fed is bullish.
  • #7
  • Jun 17, 2015 1:50am Jun 17, 2015 1:50am
Quoting Stinky
{quote} There is too much uncertainty. When that's the case, traders tend to want to get in at a better price. That's why I think EURUSD will go up to the sell limits, then down if the Fed is bullish.
Thanks, I think I get it.
A good strategy for trading is... the opposite of having a bad strategy.
  • #8
  • Jun 17, 2015 2:17am Jun 17, 2015 2:17am
What is there to talk about?
  • #9
  • Jun 17, 2015 8:53am Jun 17, 2015 8:53am
Quoting GDR3k
What is there to talk about?
I don't know, like: this is about to happen, look at this, this is probable, or things like that.

I think I expected a big drop on Dow Jones and EURUSD
A good strategy for trading is... the opposite of having a bad strategy.
  • #10
  • Jun 17, 2015 12:16pm Jun 17, 2015 12:16pm
Rate increase is coming sooner than later. This is good for economy, despite what all the clowns say.
  • #11
  • Jun 17, 2015 12:38pm Jun 17, 2015 12:38pm
Quoting 666spx666
Rate increase is coming sooner than later. This is good for economy, despite what all the clowns say.
Hi, thanks.

do you have any link (news) so I can read? please. Or you can just teach me a little bit.

I'm not lazy, I learn by myself, and I know you won't get profit for teaching me, but I don't really know enough right now, and I would like to learn little by little, pip by pip.

I started a demo account like a month ago with 400$, I lost 150 in the third week, now since two days ago I'm winning with GBPJPY 60$ =)
A good strategy for trading is... the opposite of having a bad strategy.
  • #12
  • Jun 17, 2015 12:41pm Jun 17, 2015 12:41pm
Quoting 666spx666
Rate increase is coming sooner than later. This is good for economy, despite what all the clowns say.
Wait, what that means for you?

From my noob mind, I think a rate increase will slow a little bit production and other stuff, so USD will get a little weaker against EUR?
A good strategy for trading is... the opposite of having a bad strategy.
  • #13
  • Jun 17, 2015 3:44pm Jun 17, 2015 3:44pm
Hello Powertrade.

I see not many people are helping you with clear answers. First off, dont worry about being a noob. We are ALL noobs in ever changing market conditions. With that said lets move on.

1. There are basically 2 types of analysis in the forex business. A. Fundamental, and B. technical.

Lets start with B, since this is basically your question today.

EVERYTHING is about interest rates, inflation, and capital flows! I'm gonna try to make it as simple as posible. FIRST the inflation of a country increases because of the good circulation of goods and services and well being of the general economy. SECOND, The central bank will raise interest rates to slow the economy by forcing higher prices of the cost of money, which will demotivate businesses from start new projects like building other busineses and houses, ect. THIRD. A higher interest rate of a country will attract capital flows outside as well as inside the country for capital gains. (eg, the carry trade.) FOURTH. Due to the new demand for the currency to finance the hunger for capital gains, the value of the currency will appreciate drastically. ONLY the speculation of all this happening, that a central bank will raise or lower their base interest rate, will cause market participants to react. Its all about whats expected. Not only what the interest rates are at the moment. So the speculation of a raising interest rate for a country is absolutely bullish for a currency, and vise versa. The speculation of LOWERING and insterest rate is bearish.

Technical. Forget all the fancy indicators. learn price action like support and resistance on the 4 hour chart, combined with candlestick patterns and fibonnaci, and you will be on your way. when these two factors agree with eachother, then you could very well have yourself a trade!

cheers brother.

keep those bets small.
  • #14
  • Jun 17, 2015 5:35pm Jun 17, 2015 5:35pm
efxnews.com is good. I don't know much about fundamentals. Just enough to get the trend, and to know whether uncertainty is a factor in the lead up to important events.
  • #15
  • Jun 17, 2015 6:24pm Jun 17, 2015 6:24pm
Quoting aldadragon
Hello Powertrade. I see not many people are helping you with clear answers. First off, dont worry about being a noob. We are ALL noobs in ever changing market conditions. With that said lets move on. 1. There are basically 2 types of analysis in the forex business. A. Fundamental, and B. technical. Lets start with B, since this is basically your question today. EVERYTHING is about interest rates, inflation, and capital flows! I'm gonna try to make it as simple as posible. FIRST the inflation of a country increases because of the good circulation...
THANKS!

In fact I understand what you say, just that I don't know english enough to make a proper answer. But thank you a lot for explaining to me every thing you've explained.

What I didn't know was the bolded part
A good strategy for trading is... the opposite of having a bad strategy.
  • #16
  • Jun 17, 2015 6:24pm Jun 17, 2015 6:24pm
Quoting Stinky
efxnews.com is good. I don't know much about fundamentals. Just enough to get the trend, and to know whether uncertainty is a factor in the lead up to important events.
Thanks a lot to you too, I really liked that website, I didn't know it, and now it's on my favorites
A good strategy for trading is... the opposite of having a bad strategy.
  • #17
  • Last Post: Jun 17, 2015 6:44pm Jun 17, 2015 6:44pm
Quoting PowerTrade
{quote} Thanks a lot to you too, I really liked that website, I didn't know it, and now it's on my favorites
I mainly pay attention to what the biggest banks say. Cheers
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