New to forex

Dear friend

Hi every body…

Friends I am totally new to Forex and trying to under stand this game before investing money. I am from India.

Can any body tell me news impact on currencies …how these influenced… and how I can get the right news at right time.

hope some will also help me on this topic.

Thanks.

safearn

Greetings safearn and welcome to the forums! Always glad to welcome new friends from India, and I hope we can hear more about ya.

There aren’t hard rules of how to pick a direction or how far a move may go (or when it will fade) during a news event because every event has its own set of variables driving price action. News trading is a skill that takes a lot of market experience and practice to develop. But probably the biggest things to practice from the start is to trade very small and wait a few moments for the volatility to calm down after the event. It’s tough to catch a move from the very start, but you don’t have to to make a profit.

Dear sir

thanks for support

safearn

May I ask why you are interested in trading news?

As pipcrawler mention, trading news is a skill that comes with experience. The problem i’ve seen with new traders is that they tend to believe that by trading news its a fast way to make money with the volatility that comes along with a news event such as NFP.

My suggestion is learn the basics of trading, if you are interested in trading news in the future that is fine, but you must also develop technical skills and prepare your mind psychologically before diving in. Trading is a skill that is learnt and developed over time, like any other profession.