True. And also sometimes the pace falls down a bit, I expect a minor correction to happen, yet the price picks up the pace again and skyrockets. These kinds of events are not for a beginner like me.
Whipsaws are the bane of my trading existence, it’s why I avoid news events.
where i try to handle the news , it always make me loser
to be experienced by strong fundamental and bring the profit during news. good luck
That is sh*t is scary ASF
Yes, happens with me as well. Check the important and relevant news only, every news bit is not to be seen. Also, it is suggested to not depend on news entirely, keep your technicals strong, as well
Perhaps u can look at myfxbook’s forex-economic-calendar . Here can you can see different news and how much of an impact they are predicted to make
I bolded the stuff important to me. Great quote here. I’m not saying you can’t trade news. I just think for me, straight up gambling.
Just because it fits here- this afternoon was the impeachement vote against Trump-so this was an event ready to be traded .Accidentialy i turned on CNN 10 minutes prior to the vote and realized that, so i waited. After the positive vote i went EUR long, scalped small profit.
I think thats a typical example, how news-trading works.
Yep, it’s the opposite from gambling
Last weekend it became clear from news that the Uk asked for a Brexit extension - in fact it was possible to view the request on-line before Monday market open.
That was pound positive news so guess what happened the pound on Monday morning.
Then later in the week it became clear from news that an election would happen. Opinion polls have long been signalling that the ruling party have a huge lead and it happens that the same ruling party negotiated deal witn the EU (pound positive).
So guess what happened to the pound on news of the election.
Check out @Falstaff thought provoking thread on GBP and the effects of brexit:
Thats exactly what i would call a “penalty” (from soccer), if these kinds of news are in the air. I think the next interesting event is the UK election itself- all opinion polls say, that the conservatives are far ahead-on the other side i cant believe, that the Brits are realy 100% in love with them after this Brexit comedy. Stronger than expected socialists will drive down the pound immediatly-if that turns out during the next weeks,its again an oportunity to make money.
Forget the News…or fundamental trading… technical analysis is the best way to go… zero indicators…learn market Structure…price action.
Always use a good website for News to identify that it is true. Then check for the News to impact on the market and how it can impact the currency.
Forex news website Fx Factory is really good than all others, when time to news i always depend on it.