The Forex Trading Course: A Self-Study Guide to Becoming a Successful Currency Trader, 2nd Edition

Chapter 9Conducting Your Own Fundamental Analysis

The forex trader today is very lucky. The Internet provides unprecedented access to information and data—perhaps too much information. There are billions of words out there that can be called into use and sorted. The bag of words can serve as a very useful tool to inform the trader about global economic conditions.

A good technique to use that provides an efficient way to pull information out of the World Wide Web is to use the search engines and input the right terms. For example, traders preparing to evaluate a currency to trade should also scan the latest news. Here is how to do it:

1. Go to Google (or any other search engine such as Yahoo or Baidu), click on the News link, and then click on Sort by Date.
2. Input search terms (US dollar, Australian economy, etc.).

For example, if you input the term Australian interest rates, the results will quickly point to the latest article on it.

Using Google or any other search engine effectively will depend on which terms are entered. The following terms are good starting points to maximize the items retrieved:

1. US dollar
2. US economy
3. US interest rates
4. Bloomberg on US dollar
5. European economy
6. European interest rates
7. German economy
8. German interest rates
9. Yellin
10. Draghi
11. Zhou Xiaochuan
12. Haruhiko Kuroda
13. Bank of China
14. Glen Stevens
15. Mark Carney
16. Australian interest rates
17. Australian economy
18. Canadian economy
19. Canadian interest rates
20. Bank of Japan

The idea is to try to grab the latest analysis while you ...