forecast on Forex

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Trevor
150
Trevor  

I'm pretty new to this and reading all the articles and blogs never gives you a straight answer. Always uses words like maybe , on the other hand, if. Its never clear.


Does anyone have a good source for news and forecast?


Regards


Trevor

Sergey Golubev
Moderator
106123
Sergey Golubev  

News is different from forecast, and forecast is different from technical analysis.
This is how I understand it:

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Forecasts. You are following some system which is 'black box' for you and can not be disclosed in public. You just believe in this unknown system/person/trader/coder which is making forecast for you. Forecasts are made with no any alternatives, for example: "buy EUR/USD at 1.2440 now/tomorrow at 10 am etc."
It is similar with weather forecast (no one is responsible for false signal for example). There are free forecasts and commercial forecasts.

Technical analysis. The person is using indicators or/and price action to make a technical analysis describing the market condition in the past together with price movement explanation to the future on alternative ways. For example: "if the price breaks this level to above so ...., alternative - if the price will cross this level to below so ...".
In this case - technical analysis is acting as the science which everybody can repeat in MT4/MT5, and you are always having the choice about what to do (to buy, or to sell, or to do nothing).
There are free technical analysis and commercial technical analysis.

There are some websites and sources which are publishing the articles with the word 'Forecast' (dailyfx.com and investing.com for example) but if you look at those articles so you will understand that it is the technical analysis only.

Analysts (the persons who are providing the technical analysis) consider the forecasts/forecasters as the forex scam (so, basicly they do not like each other).

We do not have forecasts on this part of the forum because it will be consider as an advertisement with commercial promotion anyway (technical analysis and forecasts can not be on the same subforums because of the differences between them: technical analysis is the science, and forecast is commercial or promotional service.

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I mean - if someone will post some link to the website with the forex forecast/trading signals and so on (and if it will be real forecast without technical analysis) so this your thread will be deleted sorry.

Sergey Golubev
Moderator
106123
Sergey Golubev  
But there are more confusion related to forecasts ... On the post above - I described the differences between technical analysis and forecasts.

And there are some differences between forecasts and signal services too. For example, the best way to check forecast/forecaster is to ask him to provide the signals so everybody will see/check the results. But in case of forecasts - it is not very good way because forecasts are making once in a month or once in a week so I think - no one will subscribe to the signals which are trading one time in a month/week just to prove some article/post about "where the price will go to in May" for example ... so ...

Forecasts, signal services and technical analysis are 3 different services: we have just one of them here - signals as a service (and free technical analysis by free indicators from CodeBase here on the forum).

Trevor
150
Trevor  
Sergey Golubev:
But there are more confusion related to forecasts ... On the post above - I described the differences between technical analysis and forecasts.

And there are some differences between forecasts and signal services too. For example, the best way to check forecast/forecaster is to ask him to provide the signals so everybody will see/check the results. But in case of forecasts - it is not very good way because forecasts are making once in a month or once in a week so I think - no one will subscribe to the signals which are trading one time in a month/week just to prove some article/post about "where the price will go to in May" for example ... so ...

Forecasts, signal services and technical analysis are 3 different services: we have just one of them here - signals as a service (and free technical analysis by free indicators from CodeBase here on the forum).

Thanks for the details. 😀
Michael Maggi
1854
Michael Maggi  
Start with a demo account and trade a divergent group of currency pairs and CFDs and you will eventually develop a trading style that suits you time available and personality. YouTube is a great source of advice but almost all of it is trying to sell you something or promote themselves as the greatest trader alive.  Don't believe any of the wild promises and when you start trading a demo you will see there is always a maybe involved in trading.
Sergey Golubev
Moderator
106123
Sergey Golubev  

As we know, almost all the brokers are making technical/fundamental analysis just to promote themselves and receive new clients.
So, the technical/fundamental analysis from the brokers are prohibited on the forum because of the strong promotional/advertisable purposes of such the brokers' analysis.

Anyway, the users can provide this activity on the brogs on inside the profiles for example.

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