Does waiting for a new story and then buying/selling the currency depending on if it’s positive or negative news work? Or will you always be too late to profit from it?
hi ziggir bro )))
no its not working , market ulways create new support resistance and updating you better attention to the price only , nothing you can do about just accept and going on
It depends who you are.
I’ll always be too late.
Financial institutions with economic research departments may not be. They’ll always have a big advantage over me.
I don’t want to trade against them, so I avoid trading the news, because I’m a retail trader.
Trading the news and FA may not be the same thing.
To trade the news blind without some concept of FA is leaving a trader exposed to market manipulation.
To learn how to trade the news is a forward test exercise, the next upcoming news is EZ on Tuesday - manufacturing pmi.
To help get a sense of trend (yep trend exists in FA) maybe have a read here:
Germany Manufacturing PMI | 2008-2018 | Data | Chart | Calendar | Forecast
Or to get a sense of reporting have a read here:
So from that it is possible to get a sense of what the market expects from France/German pmi - so in thinking ahead imagine if the German numbers come in below/ at par/ above.
(Germany is a larger manufacturer in EU)
Which of the three will impact Euro price most - below obviously, then is there buying of Euro in recent past, if so then would par/above be both positive on price.
There will be guys setting orders on Monday evening based on those 3 possible outcomes.
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It’s more of a gamble. I predicted a short but the news triggered a bullish trend. U know what happened!
I’m a newbie and trading the news just doesn’t work for me. I have no in-depth knowledge of FA and not enough time to go through macro research either. Based on my experience, I wouldn’t recommend it to other new traders. 