One of the best things about the foreign exchange market is its nature as a global market and a trading environment that is open for business 24 hours per day, 5.5 days per week. Because of this, lucrative trading opportunities can arise at any time during the day or night (depending on your time zone), and it becomes important to keep your 'finger on the pulse' of the market by staying current on the latest economic news.

Understanding RSS

People sometimes argue over what the letters RSS stands for (many agree that it stands for 'Real Simple Syndication'), but few argue over what this fun little abreviation means: RSS is a popular and ubiquitous format for content syndication, meaning that you can take current content from one source and have it displayed somewhere else in nearly real time.

What this means for you as a trader is that you can take news and information from various sources and have it update on your desktop so that you are never behind when a large news announcement is released that you think will impact price data.

Using RSS is just a simple way to keep up-to-date on current information that can be very important to your fundamental market analysis. Items such as the non-farm payroll report and other labor data that is released monthly can have a significant impact on exchange rates, and in the window of just a few minutes there can be large price spikes. Keeping as current as possible in your valuation analysis of a currency can mean money in the bank, because profiting with forex is all about timing.