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The RDS Forex System: A Breakthrough Method To Profiting from Market Turning Points by Stephanie Radkay, Michael Radkay

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CHAPTER 7

Preparing for Known Events

There are three important lessons to prepare for known events:

1. Understand each report and the time that it is released on the calendar.

2. Know the key players that talk about and make decisions on those results.

3. Understand your emotions in stressful real-time situations

We believe it is important for you to get to know all of the events and people on the lists provided. If you were to ask us which are the most important known events on the calendar to plan for, we would say the early report events at 5:30 AM PT/7:30 AM CT/8:30 AM ET rank number one and the 7:00 AM PT/9:00 AM CT/10:00 AM ET reports rank number two. All reports take a back seat eight times a year to the most important calendar event, which is the Federal Reserve meeting (FOMC) that informs us on their decision to raise, lower, or keep stable the Federal Funds Interest Rate. Running a close second in terms of market attention is the first Friday of every month, when the Unemployment Jobs data report comes out.

FED FUNDS

During the FOMC meeting, the Chairman and Board set the Federal Funds Interest Rate. The federal funds rate is simply the lending rate (most times over-night) that private banks charge each other for loans. The target rate is set and influenced by the Federal Open Market Committee (FOMC). The FOMC meets eight times a year, at which they decide a rate level based on current economic conditions. They base this decision on the strength or weakness of the U.S. ...

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