Forex market news is news regarding businesses, economic situations and political actions that will have a potentially solid impact on one or more of the major currencies being traded in the Forex market. Market news can be a very useful tool for any trader but it has proven to be more valuable for seasoned traders. The reason for this is simple, experienced traders have a much better understanding of the specific news feeds and how each one will effect the Forex market as well as the respective currency pairs which they are trading. Newer traders have much more difficult time interpreting news feeds simply because many new traders have trouble realizing the effect that a specific piece of news will have on trends and market conditions.
Instead of market news feeds, there is a solution that is generally much more effective for helping more inexperienced traders executive profitable trades, an automated signal service.
Automated Trading Signals
Automated signal services, also known as Forex trading systems, can provide a solution for traders who aren’t yet ready to successfully interpret market news feeds and advanced charts. Most signal services provide trading signals by email, sms text message, pop-upsoftware, or other more advanced methods which the trader can use in order to maximize his or her chances of success. The goal of a signal service is to show you exactly when to open a trade so that you enter the trade at the trend reversal point. Once entered,…