Ok, so this may sound very simple and i’m sure people do it already. But has anyone just sat around home all day watching and listening to ANY source of news that may affect the currency pair you are trading?
I’m imagining me sitting in my pajamas with Bloomberg on tv, along with another MSM channel, maybe some select twitter account…then as soon as I see news that can be perceived as positive or negative…I BUY OR SELL!
Obviously you wont be able to accurately forecast where the price will go, or if it will even go at all. But what’s the harm in waiting for a Trump tweet or a news story so you can grab some pips?
Does anyone do this, or have they tried it at all? I’d love to hear some feedback!
Hey there, I have lost lots of money doing that on AUD interest rate decisions…I did once make some money on a short after I heard the Japan earthquake of 2011 broadcast…didn’t feel good though psychologically speaking. Also important to note that quite often the market will move the wrong way first on a knee jerk reaction. If the news event and move align with the technicals and price structure it is quite often a good profitable substantial move
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Not a good idea at all. Someday you may make some pips by doing this. But ultimately you would loss money and won’t learn anything about trading skills. For news trading you need to be skilled enough about the economy and all other factors.
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Were you trading the news as I explained it? Waiting for news that could be perceived as good or bad for whatever economy?
Hey at least you made some money though ;D
Hi, my trading system is putting the STOP order before news being released and wait for market to move and take profit. My test account is reaching 5% return for first month. Will start to publish live account from May.