Is anybody remotely successful trading the news event releases? And if so, what kind of news are your looking for? Just general economic stuff, or currency pair specific, or specific data points from a economic calendar?
And where are you getting your news?
Fxstreet?
Dailyfx?
Twitter?
Your broker?
Newb out.
The BabyPips Economic Calendar works just fine and can serve as a reliable source of economic data.
What traders should look out for is the Actual compared to the Forecast (expectancy) instead of Previous.
e.g. Actual Non-Farm Payroll (NFP) data could be slightly better than Previous data but if the increase is less than the Forecast, market could still be “disappointed” and trade lower.
Bonus:
Here is a video guide which can help illustrate the point of how to setup your trade positions prior to any high impact news release.
Hey cool, thanks for sharing. Great video. Is that you? haha
“I don’t even know what I’m eating for lunch tomorrow.”
While day traders may trade the news several times in a trading session, longer-term investors might do so only occasionally.