The Forex markets are open 24-hrs a day during most of the week, allowing traders a huge flexibility on deciding when to enter their trades with the intention of making a profitable decision of each of these trades entered in the market. As long as the markets are open the prices will be constantly fluctuating as a response to a number of factors that can influence the markets, as can be easily seen by looking at the charts. And it’s thanks to this fluctuations that traders can have profitable trades many times per week.

One of the factors that highly influences the prices of currencies in the Forex markets is the economic news releases.

When considering the release of economic news as a source of profitable trades all forex traders try to take advantage of the difference between the forecasted and the actual economic number. In order to take full advantage of this strategy you need a very fast news data feed such as those provided by Bloomberg because you’ll always want to get in the trade before the move begins.

Once you have access to a fast news data feed at Bloomberg then you can track the news and then determine the significance of the economic news report being released for the particular currency pair you are trading, if the news are not important, do not trade the pair.

In order to be more accurate on what you need to know you will find that a good economic data calendar will be of great use and most of them are free. Once you get some familiarity with the important data to be released then you need to know how large a discrepancy has to be in order for you to act on the trade and become profitable. With this facts in hand you only have to watch the news release using your fast datafeed and trade the numbers for your particular currency pair. It’s highly probable you will make a good deal of pips from this forex trading strategy.

For more in detail strategies and a great forex system please visit our welcome page:

=> [http://www.squidoo.com/forex-training-kiss-strategy/]

Author: Adrian Pablo
Article Source: EzineArticles.com
Excise Tax