Hi all ,just this is abraham from Africa a newbie in forex industry whose trying to understand how to trade the markets using fundamental news or other economic information
I have to learn to do news analysis. However, I never enter the trade before the news. If there is any trade, I manage it. Because there is a lot of volatility in the market during news. I try to trade by following the impact of the news.
The online babypips course is a great place to learn and understand. Trading the markets on fundamental news or economic sections are outlined here:
- Fundamental Factors That Affect Currency Values
- Where to find Forex News and Market Data
- Market Expectations of News and Their Impact on Currencies
There’s more in the section against Fundamental Analysis section that’s worth going over.
Really nice post and starting point
I generally place trades after the news release not before, because you never know what kind of impact it is going to bring in the market.
Basically we need to understand the nature of the news, if it will be favorable to your trade or not. If the news is expected to be positive and you already have the trade open, hold the position. If it is gonna be negative then book your profit and close the trade.
Actually there is no need, as I think, permanently watching for the price movements. However everything depends on the style of trading and chosen (or created) strategy. For this, there are stop-loss and take profit. I believe that every trader has to start his trading day with chekcing the news, then he/she makes a conclusion and opens a position, and here he/she uses SL and TP. Of course, it’s not an exact option to sty stable but it’s the option which can let you not to check price movements every minute. Once the negative news is published then the price goes down and you fixes minimal loss due to SL. With positive news everything is contrary.
in forex, you should always follow the news, after all, the market is tied completely around them
I also think that the best point to start learning fundamental analysis is in babypips education section.
Completely agree, its a treasure chest of info
It is very important that the beginner initially has a small level of knowledge. Otherwise, the result may not be the most beneficial.
Well, here the moment with training did not disappear anywhere, you need to learn this work in any case, otherwise nothing will work out