Trading Proverb #7, Currency Meter

Trading Proverb #7. Use this suggested currency meter to track fundamentals.

If you have not already guessed, or assumed, I don't really use fundamentals for trading signals. Fundamentals is a fancy way of saying news releases. There is only so much a person can absorb, and you already know I prefer as much automation as possible.

I don't trade news releases, so I don't trade their spikes. However, I always know when they are coming. I know a person who LOVES trading fundamentals, so rather than me studying it, I use my master mind alliance (Think and Grow Rich) and let him provide his analysis and tool.

Ah, the tool. He has his own currency meter. Perhaps you have not heard about this tool? It measures the bulls versus the bears and inputs a value onto a chart or spreadsheet. I have two actually. One is a histogram, and the other is my friend's version. His is available at http://www.newsprofiteer.com/newsprofiteer-meter.html

There are other meters on the Internet, most are for sale. This one is free. But that is not why I use it. I use it mainly because before I start to trade I can open it up and there is notice of the next news event and what time it will be released. There is even an alarm to alert you 5 minutes before the release. After the release it updates the expected versus actual data. Too cool.

I do not use it for signaling, only for the news release notices. He provides training on his site for how he uses it and what the data means if you want to use it differently. Additionally he will send you weekly and daily newsletters with his fundamental analysis if you want to read it. It saves you all the time of tracking it yourself.