08.07.2010 Post in Trading

All traders working on the international currency market use analytical reviews and forecasts. This substantial component plays a great role in reaching success and making a permanent profit. As all decisions taken by a trader in the market work must base on some forecasts and researches that is why Forex market forecasts are so necessary for the traders.

Today there is a great many of different sources which provide Forex forecasts as an additional of service. A trader must decide on one of the information resources. But before making your mind who will be your information deliverer on Forex market it is necessary to rely on your market view, as all market forecasts are nothing but somebody’s suppositions concerning the situation expected on the market in the nearest time. A trader must learn well to combine his opinion with the analysts’ opinion who make the forecasts.

Using the analytical forecasts a trader must base on the following rules:

1. A trader must determine the range of sources, from their forecasts he will use the information about the existing processes on Forex market. Nowadays there are a lot of sources on the market which deserve the investors’ attention. The trader can apply to analytical reviews issued by the official resources as well individual traders.

2. Almost all forecasts of Forex market are paid that is why in order to be sure in the received information worth paying attention to the publication popularity. At present, it is rather easy to find it out. You just have to know the public opinion that is actively promoted by thematic forums and blogs.

3. The forecast quality. This assessment criterion can be also easily educed as almost all analytical outlooks are paid and if a trader decides to pay money for Forex market forecast, then the most reliable and competent source must be chosen for this matter.

It would be wrong to say that using the forecasts for Forex market is low efficient. However, even big financial institutes interested in the quality of the provided analytical information do not give a 100% guarantee of a positive result. And none of the financial companies can give, that is why it is better to choose the one which has the biggest and longest work experience on the market.

Added by Evgeny Galaev,
Chief Manager of InstaForex Client Relations Department

  • http://www.easypipsforexsignals.com Manuel Forex Signals

    I agree. Using forecasting services that provide forex signals and forex alerts help eliminate alot of research time. however, it’s important to still know chart reading. I like to use Metatrader for my charts.