Large trading groups usually have a firsthand access to important news. Thus, it would be beneficial to join such trading groups to have access to the news and share trading related ideas with professional traders.

It would be difficult for a beginner trader to read all the Forex related news, flip through charts, and decide the suitable pair to trade. In this regard, social media platforms would be of great assistance as the trader can get to know the currency pair where the action is currently going on.
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Forex blogs are nothing but customized web pages of individual traders who provide regular updates on the currency market. Such blogs also offer analysis of currency pairs, teach new trading strategies, introduce new indicators, and even provide trade setups.
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More importantly, unlike a plain Forex news website, a reader of the blog will usually be able to communicate with the blogger. Forex news providers such as previously mentioned ForexFactory, BabyPips, and DailyFX offer customizable blogs section, which can be used by individual traders to provide news updates and write their thoughts on the market.
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On the other hand, there are individual blogs run by well-known professional traders. Do not forget about our own blog , which albeit not focused on news, covers important events that influence the FX rates. It is also one of the most reliable sources of news on currency pairs. However, unless you have a school or a college mate working as a proprietary trader, developing contacts with institutional level traders will take time.
So, it should be the last option for a beginner trader.
All the news sources mentioned above may not suit all traders. Depending on the timeframe of analysis, two professional traders may have contradicting opinion about a currency pair. So, depending on the trading style and risk profile, a trader should select the most suitable news provider and stick to a simple strategy.
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Otherwise, it would be too easy to sink in the overwhelming sea of mostly useless news and information. If you want to get news of the most recent updates to our guides or anything else related to Forex trading, you can subscribe to our monthly newsletter. What Is Forex?
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Bad news for forex traders on both sides of the Channel -
Dedicated Forex News Websites It is arguably the best source of the market related news for beginner traders. These are arguably the two biggest financial news channels that are most popular with traders and investors because they broadcast 24 hours a day and are available in many different countries all over the world. Many people feel obliged to have one of these channels on in the background when they first start trading from home because they naturally assume that it will help them to become more profitable without really knowing why. One of the main reasons why forex traders can benefit from watching these TV channels is because they will often feature interviews with industry experts who can provide logical in-depth analysis of the currency markets.
They can either be technical analysts who can highlight why a particular currency pair may be headed higher or lower based on price chart patterns, for instance, or they could be fundamental analysis experts or economists, for example, who offer predictions based on economic data. Either way, these insights can be very useful if you are someone who likes to trade the forex markets with a medium or long-term view.
Bad news for forex traders on both sides of the Channel
Finally, one other reason why forex traders can benefit from watching Bloomberg or CNBC, and why they will often have them on in the background all day long, is because they deliver breaking news stories as soon as they have them. So if there is a major news event that has the potential to move the currency markets, this can help traders to make instant decisions about their current open positions, or potentially open a new profitable trade based on this news. So watching one of these financial news channels can really help to ease some of the boredom commonly associated with full-time trading.
You should always do your own analysis and make your own decisions when trading the markets.