hey Ya’ll, I believe I’m the worst trader as far fundamentals are concerned. fact is I forget about the news for the day. AND WHEN THEY KICK IN, I CLOSE MY PC FOR THE DAY.
What’s the best way to keep up and maybe trade them?
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Some fundamentals occur on a pre-planned calendar of dates. Others happen randomly. But very few traders take a position based on some news which is either expected or just released. Usually the principle is wait for the market to react - it is the major banks and funds who move price when they decide whether the news means to buy or to sell. They don’t release their analysis to non-clients like us but the thing is they can’t cover their tracks - if they’ve decided to buy, we will see price go up, and that’s your cue.
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in other words, I should engage the markets instead of staying away.
thanks, tommor
Have you completed Pipsology? There’s lot’s of good info about trading fundamentals there.
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I’ve tried to trade news events and got burned too many times. I would just keep an eye on the events and news and releases. And probably stay out of currency pairs that might be affected by the news event. At least until you get more familiar with how other traders react.
I think that’s the bigger tip. It’s not so much whether the number is big or small or whatever, but how other traders react to it being big/small/higher/lower than expected. Make sense?
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makes more sense that way, appreciate ya
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You can keep up with the market news by keeping a track of the economic calendar, as most of the major events or data release are pre planned so you will know which data is going to be released and when.
Yea, I use the calendar here for that too.
And the good calendars put an impact rating on the event, so high or red means it’s important and will probably affect market prices.