Guarding your experience

How to make a profit from Forex forecasts


03 / November / 19 Bunsi Shakiramal Visitors: 23 Rating: ★★★★★



How many deposits could have been saved if you knew at what moment to open and close an order. And what profit could a trader get. These problems would not exist at all, if the trader constantly received an accurate Forex forecast. This is the only opportunity to achieve success in the Forex market. But there are no accurate predictions, otherwise most traders could have become millionaires long ago. What a majority of them are. All traders would have become millionaires.

But if you understand how many long-term trends there were in the market, the beginning of which no one could predict. Moreover, no one could tell where the price would go after the completed trend. It is clear that there are three options for the development of events. It can be a continuation of the movement. Or a price reversal in the opposite direction. And the third variant is a prolonged flat (lateral movement). And who's to say for sure which one of these options will work. Nobody argues with the fact that Forex predictions never come true. In fact, Forex forecasts can be an extremely useful thing for a trader. But it is somewhat careless to rely only on forecasts. Even analysts of large analytical centers are wrong. Therefore, trading according to the forecast is quite risky. Not everything is as simple as it seems. Let's take a look at the forecasts for the Forex market. The first thing you can say is the lack of basic information. By basic information we mean the exact level of entry and exit from a position. That is, thanks to such a forecast we can only hope for a successful outcome. After all, any forecast is based on assumptions about economic events, only on a more global scale. We all understand very well that this is fundamentalism. And this factor is undoubtedly beneficial. But if you look at it from the other side, something can and will work out.

By the way, if you learn how to correctly filter Forex forecasts, you can still benefit. It may not be as big as we would like, but profit is profit. It is either there or it is not. Nowadays, there are a lot of special analytical centers, whose work is to conduct market analysis and make forecasts according to it. In order to receive forecasts, you only need to sign up. Let's say, a trader has signed up to receive a forecast and received it. But to trust it is a personal matter of the trader. It is true that some analytical centers produce paid forecasts. On the one hand, if a Forex forecast is paid, then it must be accurate. All the more so, there are several test forecasts. To check the accuracy of the forecast. On the other hand, these forecasts are simply reprinted to other resources, only without specific information.

Very often you have to hear that the confidence in Forex forecasts is gradually decreasing. They say that these forecasts bring nothing. Naturally, the attitude to them is negative. I would not say so. Moreover, there are some alternatives. The first variant forecasts from three or four resources at once. It reminds us of a trading system, where we receive a confirmed signal. So, if the forecast is confirmed by all resources, it means that we should trust it. But if all these resources give absolutely different forecasts, it is not worth doing anything. And there's nothing wrong with that. The Forex market doesn't seem to be going to close. The second option is to confirm the forecast with the help of technical analysis. I will not go into details of technical analysis. I will only say that having received a forecast, you can verify it with your conclusions. If the result is positive, then everything is fine. But if technical analysis indicates another development, you should not believe the forecast today.

In principle, analytical centers try not to make mistakes. After all, the reputation may suffer from this. And who would listen to a company that has a negative reputation? It's clear that nobody. But you shouldn't blindly trust Forex predictions either.

Comments 0