Ever since the forex market has been able to discover its online dimension, a communication revolution has transformed the dynamics of forex trading. These days it is not as hard to get forex news as it used to be a decade or so ago because through the internet every trader has access to the latest forex news irrespective of territorial boundaries.
But even after we take into account all the facilities as of today that a trader has at his disposal to conduct forex trading, it’s definitely an alarming situation that nearly 90 percent of traders are only getting out of forex trading what the Indians of America got….nothing!
Every where you go and no matter to whom you talk, they’re talking about the importance of forex news, but no one really points out that getting the news is only getting half of the job done. The other and more important part of the job of a FX trader is to be smart enough and take decisions based on the data collected. The reason why so many traders don’t ever get to see the sight of big money is that they naively follow every piece of information that comes to their knowledge. There may be many benefits of online forex trading, but one big disadvantage that has played a vital role in destroying many careers in forex trading is that not every online forex news source is credible. There are at least dozens of websites and blogs that immediately come to mind that are being run by self-proclaimed forex experts who in a way are misdirecting inexperienced U.S. forex news traders.
Forex trading can be profitable when the actions of a trader stand on the firm foundation laid by forex news that is received by a credible source and quickly after it is originated. Acting on news that is being read by millions of traders at the same time is only going to endanger your equity. On the other hand, you need to double check the source before you start reading any euro forex news and tips online.
