Sources of information for news strategy
News trading strategy is one of the most popular trading options on virtually any exchange.
It can be used both in trading on the Forex currency market and in trading on the stock market or commodity exchange.
Despite its apparent simplicity, there are a large number of nuances that should be taken into account when using this strategy in practice.
The strategy itself has been described many times on our website " Forex News Trading, " but today we'll talk about sources of information from which you can receive signals to open trades.
Where to get news for news trading?
There are several sources of information that can serve as a source of news for opening trades:
Economic calendar – shows the time of news release for a specific asset.
It's a good option, but because it often includes a forecast, the exchange rate begins to react even before the news itself is released. However, there's nothing stopping you from opening a trade if you see a trend reaction even before the news is released. The economic calendar is suitable for trading on the Forex market.
Economic news sites – today there are many reputable sites that publish reports on events in the world of finance, economics, or reports from various analytical agencies.
Here are the most popular ones:
- Reuters ( www.reuters.com )
- Bloomberg ( www.bloomberg.com )
- Associated Press ( www.apnews.com )
- CNBC ( www.cnbc.com )
- Financial Times ( www.ft.com )
- Wall Street Journal ( www.wsj.com )
- BBC News ( www.bbc.com/news )
- CNN ( www.cnn.com )
- Al Jazeera ( www.aljazeera.com )
- Xinhua News Agency ( xinhuanet.com )
It should be noted that there are both free and paid subscription options, with Bloomberg considered one of the most reputable options for stock trading.
News feed in Metatrader - if you use this trading platform, it has a built-in news feed.
True, the news here is published in English, but even if you don’t know English perfectly, you can always use Google Translate or another similar tool.
I've never personally used this source, but perhaps someone will find it useful. MetaTrader 5 also has its own built-in MT5 news calendar .
MT4 News Indicator – This tool displays current news directly on the MT4 currency pair chart according to the specified parameters.
You can set up an alert when new news is released, allowing you to avoid missing an important trade signal. A drawback of the indicator may be the questionable source of information it relies on.
As you can see, there are quite a few options, and you can test each one yourself and then choose the one that best suits your strategy. I personally prefer Bloomberg .
