Hope you are all well, I live in Brussels, Belgium, I am experienced value investor within the stock market with knowledge of fundamental analysis. I have been learning forex on babypipsfor the past 3 months which i find extremely valuable. and practising on a demo account with icmarkets for the past 3 months which i find extremely valuable.
I feel ready to go on a live account placing 250Eur trading 2% of the capital, i seem to be stronger shorting than longing. My strategy will be trading the news timing it with confirmation candles seeing if a pattern is forming before placing the trade. i’m not convinced with technical analysis as i feel they are nothing more than mathematical formulas they dont price in the economical / geopolitical news. Except for volume and momentum indicators such as RSI, moving average and MACD.
Hello
I am a light trader from Dubai, UAE.
When you say trading the news, you mean the important fundamental news like on forexfactory?
What time charts do use?
Thanks
Do you usually rely on the result of the news, or how the market reacts?
I am trying to make up a strategy for my trading and am placing some rules to follow.
For news trading one of my rules is that i should not expect one of the outcomes and place a trade before its out. This has cost me a lot before.
I should always try to react after the news is out.
Like trade the swing backwards , but its easier to say in words than implementing live.
Best of luck
when a news is released i don’t trade straight away i wait to see if there is a pattern forming, i wait for the confirmation candle before i decide whether i will place a trade