If you’ve done some research on forex trading, you have probably read all about how important a good currency trading broker is. And, yes, that’s true; without a good forex broker, you will not get the tools you need to succeed. However, the forex game isn’t all about finding a good broker. You have to work hard, too. Part of your work involves keeping close tabs on the latest forex news.

Just why is forex news so important?

Forex trading incorporates a whole lot more than just “luck”, “hunches”, or even “educated guesses”. Instead, when you’re dealing with trades in a variety of currencies at all hours of the day and night, there are lots of things that can affect them. For example, if part of the Middle East gets bombed overnight, it is going to significantly impact the currency values in the surrounding areas. Or, if the value of a certain product skyrockets one afternoon, it is going to affect the value of its entire industry.

Based on happenings around the world, a deal that would have been a steal for you a few hours ago, may not be so great anymore. However, if you’re not keeping up with the latest forex news, you could pull the trigger on a deal without knowing all of the facts!

But isn’t your forex broker supposed to alert you to things like that?
Yes. However, it doesn’t always happen.

A good forex broker will do whatever he can to keep you in the loop on new developments. However, in some cases, forex news can change so quickly that your currency trading broker simply doesn’t have time to assess it, write up a report, and send it to you. By the time he does all that, the situation may have changed again! What may have been considered “breaking forex news” this morning could be hopelessly out of date by the time you check your email this afternoon.

So, what does that mean?

It means that a big part of the responsibility falls on you.

If you’re smart about your forex trading strategy, you won’t make a single deal without going through the news first. You can make things easier on yourself by reading reliable forex news websites and having the latest related headlines sent right to your inbox. You can even sign up for news alerts from the big news outlets.

It may take a little longer, but if you wind up finding something that changes your entire perspective on a trade, isn’t it worth it?