Forex trading the news? – I know this may seem fairly obvious to most, but news events aren’t what they’re talking about on the television financial news networks right now. That’s journalism, reportage, call it what ever you like. As useful information for placing trades in the retail forex market, it’s dead.

Anything that might have had a use has already been absorbed and acted upon by pro traders, the markets have moved accordingly – and yet you do hear online forex jockeys relaying what they’ve heard on Bloomberg news, CNBC, any financial news network, as if they’ve found some secret inside deal for lasting success…

Global Markets
You’re not getting the whole picture this way, anyway. Forex, duh, is global – not everyone watches Bloomberg round the world, and they may (will) be off doing things, making decisions on the real stuff, while you’re left picking up the pieces from the studio discussion.

News Quality
Some deeply cynical people might suggest that the talking-heads aren’t total experts on what they going on about in the first place. I know they have to simplify to some extent, but their technical analyses do seem lurch into the bizarre on occasion. Some might even suggest that the talking-heads have been chosen because they are telegenic, or, in some cases, blonde… This could never be.

Leave well alone
The stuff on your television, or coming at you by desktop video, is chit-chat – it’s there to entertain, to inform the amateur and generally fill up a bit of airtime. So don’t place trades on the basis of this reported ‘news’. You’re looking at what happened an hour ago – at best – it’s stale, and you won’t make a pro trader that way.