01/12/2019
The most important of Forex trading tips is centred around timing. This sounds incredibly vague so I’ll elaborate. Everything in the world of Forex is related to time. Material financial data that traders use as a guide when executing trades is consistently released at the same time. Reserve bank announcements regarding monetary policy and interest rate announcements take place at the same time every month. Jobs data, farming/agricultural output and information about trade surpluses and deficits are all tradable market events as volumes spike and prices fluctuate.
For example, the world waits in anticipation as the US Federal Reserve Bank decides whether or not to increase interest rates for the first time in 10 years. Interest rate announcements always attract Forex traders to the market as currencies are often directly impacted by the decision. However, this particular event is likely to be a landmark trading day as traders from all over the world try to predict the outcome. As a budding forex trader, one of the best forex trading tips is to know exactly when important market events take place so you can prepare your trades to leverage off spikes in trading activity.
