i am new in the business, but i detected a good combination of some indicators which gives me reliable entry and exit signals.The problem is, that you can smash the signals in the bin, when economic data are released-there are many websites,which tell you exactly what kind of data and when they are released.
So it is possible to gamble prior to the release on the outcome-this is not realy the problem, i learned so far that this is normal, and you can anticipate that or jump on the train.
The problem are those speaches or interviews with important persons,which are not registered in advance, but if the persons say something important,the price reacts immediatly, like today at GMT1 21:00hrs, when Trump said something to NAFTA, and the USD/CAD jumped up in a second.
So now my question: it seems,that it is neccesary that i have at least one information provider medium at my side,beside watching my indicators to react on unforseen news as well.
What should i watch or listen to (BBC,CNN,Reuters…?) near my Laptop,
to get the best life informations?
So you’re watching BBC “News” and at maybe 19:45 it gives you a “Report” - By the time you’ve turned on the computer, you’re half wat back up the “Response spike” at 20:05 ! - lol
How can you “Be in control” of that - you can’t - Feed is irrelevant.
So what did he say ? It only seems to have effected CAD !
OK well I just looked it up - apparenty NAFTA = North American Free Trade Association - so for those of us not in America or Canada, it’s pretty much irrelevant, except for it’s effect on trading instruments.
Market News releases are the most dangerous times to trade and should be avoided at all costs…These events would account for the most losses in Forex so below is a link to a news release calendar…FREE and covers all FX major countries.
Set your timezone (ie: +GMT1) and try not to trade the currencies which have a red marking at the time of the news release as price can change dramatically during these periods…
You can check the Calendar prior to trading at least 24 hours ahead of most forecast News Releases…Hope this helps.
I would use news reports only to plan your trading day. Waiting for an announcement to come out and then jumping into the fray is pretty tough. Chances are that the spreads and fills will kill you. When the news comes out there are a few possible outcomes.
The first is nothing. The news was as expected and thier is little to no reaction by the market. The second is a burst of volitility that ultimately did not change market fundamentals. The third (the money maker) is where there is news that fundamentally changes the market. Here is what I do.
I identify announcements that I think have the potential to alter the markets. I wait until after the announcement comes out, the chaos settles and a trend develops. I drop down to a lower TF and identify a pull back in the trend and enter there.
i think we are in the same boat with this view of the market- today i observed the market reaction of EUR/USD at the time of the release of some ECB News (i had them from the investing.com calender) at 13:30, and at the time of the US News at 14:30.
the strategy is easy and clear-some minutes prior to the news (only the important ones with two or three bull-signs) take a small position in the direction the market should go (according to your opinion)-take the pip-rush for some seconds or maybe longer, and be happy!
at 13:30 i just observed EUR/USD, and i saw that at first it went down some pips,and seconds later came the up rush.
the same happened at 13:30 -at first again down some pips(i was EUR short, and my thoughts were: hey,pay attention! this seems to be the same situation like hours earlier! at first it goes down,and then straight up-so take your actual down profit, and go long!) unfortunately i did not listen to my inner voice-when the EUR went up my 20 EUR short were gone!
But tomorrow 14:30 a lot of US Data are released-it is clear,that there will be a sharp up or down move,-the chances to make a fast profit are 50:50 if you take a position before the release
