Is it worth using analytical data in Forex?

Each of the newcomers who come to Forex, as a rule, repeats the standard path traveled by thousands of traders.

First there are attempts to simply guess the trend, then the transition to automatic trading, then the use of forecasts from analytical agencies or individual analysts.

How realistic is it to make a profit by trading Forex and using other people's analytical data?

Oddly enough, it is quite realistic, the only peculiarity is that it is best to trade using analytics on medium time frames, such as M30, H1. Longer-term forecasts rarely come true, and when trading with scalping, you simply will not have time to fully use analytical information.

Where is the best place to get analytical data and forecasts on exchange rates?

Almost all Forex dealing centers , but the main thing in this matter is not the beautiful presentation of information, but the accuracy of the forecast.

To do this, you will have to independently analyze the history of the forecasts presented, and then compare how well they coincided with the actual behavior of exchange rates.

Using this selection option, I managed to find my analyst, the reliability of whose forecasts reached 80%, unfortunately, after several months of work, the broker company replaced him with another employee. technical analysis of the market must also be applied .

In fact, analytics only serves as an additional guideline that allows you to confirm the correctness of the conclusions made in the process of technical analysis, the time when the received data coincides and will be the best for opening transactions on Forex.