Hi
I am a beginner and I would like to avoid trading news event.
Understand that some of the news event might be announcement by Fed or so, but how about those sudden news like north korea’s missile launch, are they consider news event trade?
If it is, it seems to be unavoidable to be caught in it right?
Thanks.
Please, try to learn news analysis ASAP! Without news analysis, it’s really hard to exist here! There have so many useful threads on News trading into BabyPips Forum.
yes it is . but you must intend to be active trader , and good with news analysis , its not bad idea to have services grabbing the top headlines and companies news
personally i like interest rates or nfp , its a open door to market casino , place your bet please
Any suggestions to better learn news analysis, I mean any particular sites
Thank you in advance
DailyFX, ForexFacroy, Bloomberg and BabyPips Forum.
Very wise.
Loosely, yes.
As far as trading is concerned, there are two types of “news events”: “scheduled news/announcements” and “unscheduled/sudden news”.
Of course the first type is easier to avoid. Occasionally it’s unavoidable to get caught out by the second.
Longer term traders are certainly at much greater risk of this second type than most faster traders, because they’re in the market for longer.
(One can also be “favourably caught” by them.)
No, you can’t avoid trading during previously unannounced events. There’s nothing really you can do about it but hope that something of that sort doesn’t happen while you have open positions.
As for the rest of the events, I recommend checking an economic calendar regularly. Babypips has one and I quite like it.
I use Economic Calendar of ForexFactory, it’s free! You can use this one.
That’s is the importance of setting stops.