How to find forex trades

There are thousands of financial assets you can choose to trade. There are hundreds of currency pairs, thousands of stocks, hundreds of indices, tens of commodities, and thousands of bonds. The availability of these assets is a good thing because it gives you an opportunity to trade in diverse markets. But the challenge that many traders face every day is how to find good opportunities to trade. This article explains a simple process you can use to find assets to trade.

First, you should start the day by reading the business news from credible sources like Bloomberg, Financial Times and the BBC. If you read these sources, you will get a better idea about events in the markets. It will also give you insights about what happened in overnight markets. For example, if you trade during the European time, reading these sources will give you a summary about what happened during the American session. As you read these sources, you will probably find one or more ideas for trading.

Second, you should look at the economic calendar. This gives you a list of all the expected market-moving data that will be released that day, and in the future. If you have a good understanding of the data that will be released during the day, this will help you identify potential opportunities.

For example, if the US Federal Reserve is expected to release its interest rates decision, there is a possibility that EUR/USD will see major movements. The same is true when the European Central Bank is expected to release its interest rates decision. Other important data that tends to move the markets are inflation, retail sales, Gross Domestic Product (GDP), and manufacturing data.

Third, you can find opportunities by reading local news, some which are not covered by the major media brands. This works well when you are thinking about specific commodities like cocoa or platinum. The biggest producers of cocoa in the world are from Ivory Coast and Ghana. Since large media brands like Bloomberg have very little presence there, you can use local news to predict the performance of the industry. Another way to do this is to find connections with local journalists, who will update you on the local news, possibly through social media. This alternative data can help you become a better trader by giving you access to legal information other traders don’t have.

Fourth, you can find trading opportunities by just looking at the charts. You can use trading platforms such as Metatrader, or charts on web-based trading platforms from brokers like easyMarkets. These platforms give you hundreds of charts for financial assets. To find opportunities, you can open these charts, look at the trends, and then do some research about the trend.

For example, you might open the chart of an unpopular currency pair like USD/SEK and see it increasing. Then, you can do your research about the USD and the Swedish Krone, and then you will know how to trade the trend. This is a very popular method of finding opportunities.

Fifth, you can use a proprietary service. Using the service, you get access to signals that have been generated by the service provider. These signals are usually generated using technical analysis. After you receive the signal, you should do your own research about it, and then use your conclusion to trade.

Finally, you can find potential trades by watching financial news. Examples of popular financial news channels are Bloomberg and CNBC. These channels feature analysts who are interviewed on the news of the day and give their opinions. By watching the television channels, you can easily find trading ideas. But it is always recommended that you do your own research after finding the ideas from the analysts, before you trade.


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