Forex currency trading has been a hot subject lately. Imagine a business with no employees, no customers, and no inventory; with possibility of reaping great profits every single month. It is only you and your desktop computer, and your favourite office home. Sure, but the secret ingredient of success is missing in the formula.
It is estimated that only 5% of retail Forex traders make money trading the currencies, using profitable currency trading system. It is usually based on deep understanding of fundamental analysis or technical analysis, which is the awareness of the patterns of market reaction on specific economic events. This require the use of trading charts and indicators.
I call this "Forex news trading 101", loosely referring to the process of transmuting substances of no or little value into pure surefire gold. Economy news that people watch on television just to have something to chat with their friends later apparently are not of great value. The very same news disturb currency market, providing possibilities to make money on the market movements and therefore become remarkably tangible. Training and experience is required to interpret news into the trading terms and the final product of such interpretation is called Forex Trading Alert.
High quality Forex trading signals service provide final price projection based on the deviation between prior number, actual number and possible revision combined with support and resistance levels. Timing of the indicator is of crucial importance here as well as the same deviation may have completely different impact on the market. It is advisable to eventually get familiar with these Forex technical terms; however generally you can follow the simplified summary explaining optimal trading strategy for this particular news event including entry and exit points and stop loss limit.