Gove news traders in the foreign exchange (FOREX) market depend on news reports to cause volatility in the price of the currencies being trade. Due to the rapid change in price following the news event, the news traders are often able to capitalize and profit significantly. Free online tools are readily available to assist the news trader in the quest for lucrative returns. Let's briefly review three of these tools.
Free Official Time Sync
A news trader must be cognizant of the importance of time and timing with respect to the reports being released and the manner in which the trade is executed. Certain news reports come out monthly at a designated time. Other economic data may come out a couple of times per quarter or with other regularity. Knowing this, the news trader will prepare for the trade accordingly.
In order to execute the trade with the necessary competence, the Gove news trader must be sure that the time piece relied on is precise. This means than hours, minutes and seconds must be properly synchronized with the official time used by the governmental agency releasing the report. There is a website showing the official U.S. government time. This can be found at one can utilize this website as a reference in adjusting the PC time to comply with the official time.