If you are into short-term gains in the forex market, news can have a significant impact on your trades because the market moves because of news. And it’s not just your country’s news that matters but of the whole world, because you are competing against traders from different parts of the world.
It depends. There are pairs that are greatly affected by news of medium importance and others are not. In fact, there are some indicators that affect a certain currency in a very particular way, so being attentive to the news will depend on which pair is being traded to know which news to watch for.
It is always recommended to keep a track of the major macro events, and understand the impact that they can levy on your trades.
News affects your trading decisions so it is very important to keep a regular track of all the imporant announcements and events
Yes I always trade major events and reports from eco calendar with Hotforex, they give volatility which is always a trading opportunity for those who learned how to manage risks.
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Correct! Fxstreet is also a great website.
It absolutely does. It is so important to be aware of all the latest happenings, in order to predict the market conditions and place trades accordingly.
That actually say a lot of people but I don’t know anyone who trades just based on fundamentals. I don’t know how would someone put sl and tp if he only looks at economic news.
News can have a significant impact on the trades you make. This is the reason why most traders follow the news to make their decisions whether you are a long-term investor or a day trader, because your currency positions will be affected.
Obviously, It’s great. Without FXstreet, it quite tough to get efficient news.
Yes, it matters a lot as it effects your trading decision. Any major event or announcement has an impact on the market in some way
It is not a rule, I know many people who don’t read news and they are still profitable. Also market does not always do what is expected by reading news because market is moved by money, not by statistic in economics and political events.
I agree with you, news matters at any timeframe. There is volatility in the market immediately after an announcement or a major event which has an impact on the market
News 100% matters to markets.
The confirmation or contradiction of news and the associated narratives is a huge part of what moves markets, not trendlines and triangles
The magnitude of impact depends on how strongly the market was surprised, i.e. actual outcome deviated from market expectations. It often happens that significant deviation in NFP Payrolls produce little impact on the market as preliminary data such aS unemployment claims hinted that the labor market had significantly strenghtened thus preparing markets for positive surprise in the data.
It surely does. News provides the basis for any major upcomigs that can be expected in the future and it further affects the trading decisions that everyone of us would take.
I think it does, to a smaller extent however for longer timeframes. smaller ones tend to get more affected
Important news releases and significant economic and political events have a big impact on currency prices so do your research and keep yourself updated
News impacts the normal functioning of the market. But it is not the only factor that matters.
I guess that news is that one of the most important things which matters a lot. In my opinion news monitoring along with psychology, risk management, money management and learning are fundamental elements for traders. You can’t become a successful traer without checking news before your trading day (you ought to check it actually all the time you trade if you wish to reach a success). News show you what is happenning with the market in real time, you know real-time market monitoring. After looking at the news you can make conclusions and build a trading strategy for your day. You may try to trade without news checking, however you’re at risk to lose all your balance.