Made Easy Forex

You have chosen the perfect pair to get started trading in the Foreign Exchange market. The GBP/USD is more consistent and predictable than many of the other pairs. With the right strategy, knowledge, money management, and attitude you should be fine. It is true that Forex is not for the faint of heart but you CAN be successful trading Forex.

As for good sites for tips, news, analysis:I use bloomberg for my economic news. Keep in mind – I trade a longer term strategy that is not significantly affected by intraday news releases so Bloomberg works for me. If you plan to scalp you will need a source to give up to the second news as well as an “economic calendar”. I recommend forexfactory but there are plenty of others. Just google Foreign exchange  economic calendar.

As for analysis, I like fxstreet. It is free and has decent content. However, what you will quickly learn is to not give into the hype. You will find that one analyst will say one thing and another will entirely contradict the first. Read with an open mind and then use your own knowledge to choose how you react.

And for where to find good tips…that is a hard one. Most tips are trading system specific and may not be right for you. However, probably the best way to get trading tips is by joining a free Foreign exchange traders forum. I like forexfactory, fxfisherman, or babypip’s forum. Just google any of those three.