What time zone are the Daily Trading Signals based on?
All Daily Signals trades by Sir Pips and Crazy Cat are in US Eastern Time - New York Time. I personally find this convenient, since Florida is in the same time zone.
Where do the released news numbers come from?
Most of the numbers come from some government agency in the country that the news release is from. Some come from private groups.
What does m/m, q/q, and y/y mean?
Those are short for month to month, quarter to quarter, and year to year. Or, to put it more simply, these would mean monthly, quarterly, and yearly reports.
Why can’t the Daily Signals give entry price, target, and stoploss for news trades?
The Daily Trading Signals are issued many hours before the news comes out, so there’s no way to know what the price will be when the time comes to enter. Targets from entries are given if the trigger number is reached or exceeded and you can get in before the spike. Stoploss would be hard to give, since different brokers widen their spreads by different amounts. 25 pips might work great for one broker, but will get taken out by wider spreads at another.
What are basis points?
Interest rate changes can be described as fractions of a percent or as basis points. A 1/4% (or 0.25%) change can also be called a 25 basis points change.
Where can I see a list of news reports?
Every page in the FPA website has a top menu. Just click where it says Calendar. Currently, the calendar here is one of the fastest free calendars available, but it's still not quite fast enough to do spike trading.
Remember, if you are just learning to trade the news, start with demo trading just to familiarize yourself with market reactions to news events. When you move to live trading, remember that slippage and requotes will be MUCH worse than demo trading, so only risk the smallest amounts of money at first. Please read my article about Risk Management if you have any questions about this. Also, if you don't understand a particular trading signal, don't trade it with real money. It's much better to risk missing out on some profit than to risk throwing away your money on a misunderstanding.
All Daily Signals trades by Sir Pips and Crazy Cat are in US Eastern Time - New York Time. I personally find this convenient, since Florida is in the same time zone.
Where do the released news numbers come from?
Most of the numbers come from some government agency in the country that the news release is from. Some come from private groups.
What does m/m, q/q, and y/y mean?
Those are short for month to month, quarter to quarter, and year to year. Or, to put it more simply, these would mean monthly, quarterly, and yearly reports.
Why can’t the Daily Signals give entry price, target, and stoploss for news trades?
The Daily Trading Signals are issued many hours before the news comes out, so there’s no way to know what the price will be when the time comes to enter. Targets from entries are given if the trigger number is reached or exceeded and you can get in before the spike. Stoploss would be hard to give, since different brokers widen their spreads by different amounts. 25 pips might work great for one broker, but will get taken out by wider spreads at another.
What are basis points?
Interest rate changes can be described as fractions of a percent or as basis points. A 1/4% (or 0.25%) change can also be called a 25 basis points change.
Where can I see a list of news reports?
Every page in the FPA website has a top menu. Just click where it says Calendar. Currently, the calendar here is one of the fastest free calendars available, but it's still not quite fast enough to do spike trading.
Remember, if you are just learning to trade the news, start with demo trading just to familiarize yourself with market reactions to news events. When you move to live trading, remember that slippage and requotes will be MUCH worse than demo trading, so only risk the smallest amounts of money at first. Please read my article about Risk Management if you have any questions about this. Also, if you don't understand a particular trading signal, don't trade it with real money. It's much better to risk missing out on some profit than to risk throwing away your money on a misunderstanding.
Forex does not have any restriction when it comes to directional trading. This means that you can buy certain currencies if you think that they are going to increase in value later. You can also sell what you have if you believe that their exchange rate will drop anytime soon.
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