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FOREX Trading Strategies
Fundamental Trading
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Markets are influenced by things happening in the world and the reaction of traders on these things, eg.
You can use these fluctuations in the price to your advantage to trade!
Sources of information:
www.fx360.com with trade recommendations
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Economic Calendar:
It is important to take note of the times that Fundamental Announcements will be made known on any day you plan to trade. They can create quick moves in the market, and if you are not prepared for these moves, you can be caught off-guard and lose some pips due to it.
Make it a part of your daily trading routine to visit a website where the list of fundamental announcements for the day is available. Make a note of the times of fundamental announcements on the currencies you plan to trade. This way you will be prepared for sudden market movements at the time of the announcements.
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You can set the timeframe of the calendar on the website to your local time, so there is no need to do complicated calculations in order to know when the next fundamental announcement will be.
Never be caught off-guard by an unexpected fundamental announcement again!
You can now make the information about the next fundamental announcement available on your Metatrader graphs by using a custom indicator!
Instructions:
Download the FFCal.mq4 indicator and save it in your C:\Program Files\MetaTrader - FX Clearing\experts\indicators directory. Add the indicator to a graph by selecting a graph, then click on the menu on Insert / Indicators / Custom / FFCal Make certain that "Allow DLL imports" under the Common Tab is selected and click OK You should now be able to see the fundamental announcement information on the graph.
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We teach our students:
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sources of quality information
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how to interpret this information
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how to trade fundamental announcements
Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.