Which news website do you read?

Beginner Questions
1

hi all,

i’ve read a lot in the forums how most traders read news to help them decide when to enter/exit a trade.
any suggestions as to which website is best for news.

thank you and good luck to all of you

2

I use this, personally. It’s my secret. I’ll let you in.

You can really utilize this. You can even drop down information (+ sign on far right) on the release with a definition of what each release is, charts showing history, what effect the news release may have if better or worse than previous estimation by economists. And so forth. I just like this calendar, I can’t use the typical economic calendars, I like unique ones

This isn’t the main link to the calendar, this is a frame of the calendar that I separated, because I didn’t like the banners on the site that it is on. So hopefully this link works for you.

ecal.forexpros.com/e_cal.php?duration=weekly&top_text_color=FFFFFF&top_bg=0452A1&header_text_color=333333&header_bg=D0DFE6&bg1=FFFFFF&bg2=F1F5F8&border=3333FF

or

ecal.forexpros.com/e_cal.php?duration=weekly

As far as news, Bloomerberg.com, Freshpips.com.

Haven’t found a better one yet.

3

Revone, thank you very much

4

Np.

Remember trading the news is very hard to do because you never know how price is going to react and, during an initial news push in the market if you have a limit buy or sell set and you get hit, you will not get filled until after that initial push. So if that push hits your limit and you had a buy limit and the push goes way up 60 pips, you will most likely get filled after that. And then say it crashes way down 200+ pips, well, you made a mistake. This happens a lot.

Another detail is the spread increase during news, especially with Oanda. Spreads go out of control so you always have to keep an eye on the spread. I personally, I can trade a spread up to 5 pips profitably. That’s just me, I have that ability. So, if I know a currency is going to be very bullish or very bearish, I can risk that, because the movement, if it’s 100 pips or 200 pips, pays for it.

The best way I found to trade news and the ONLY way, is the pair the strongest with the weakest. Take USD/CAD for instance, I think there is a Trade Release on Wednesday at 8:30 EST. Say CAD is bearish and USD is bullish, well, that’s a great setup.

The reason the EUR/USD crashes 200+ pips last friday was because of the USD on the Nonfarm Payroll wasn’t as bad as the forecast expected, which had a bullish outcome for the USD. And the rough waters that UK PM Gordon Brown is putting on his party and the people. This political uncertainty causes people to sell off the pound, the euro, and so forth. And the two OTHER cabinet ministers who resigned. These fundamental outcomes made a short sell on the EUR/USD a great trade.

Doesn’t mean it’s safe to trade, you must be patient when trading the news, because even with this information, the volatility if you don’t set your stop losses correctly, could blow you out of the water. If I am going long on a news release, I will always set my stop loss below the initial news candle. I set my TP, and if the long reverses and crashes like on Friday with the EUR/USD, I go short.

So yeah, that’s the main economic calendar I use. I’m always looking for better tools obviously, and you should be also, but that calendar works very well and you can customize it obviously.

Happy Trading. Be careful with the news. And yes if your using the Economic Calendar to set points in your chart for WHEN NOT TO TRADE, this is essential. So, just make sure you know what time your Broker’s server is running, and what time the news release is, so you can close any trades before that time, and not be opening any trades during that time, as you will get whipsawed.

5

Revone, thank you so much for the helpful response and for your time.

all the best to you

6

I use ACMs markets news tool. It�s easy to adapt since it doesn�t need any programming skills, it is pretty good�
On the web I check their web site (the news and charts section) and forex pros. Com, dailyfx blog too�:)

7

How to determine the existence of risk appetite and risk aversion. This is my main problem. I have a bad experience trading based on news release. For example the EUR/USD. The economics news for Eur is worst and on the other hand the economics news for USD is positive and good, therefore, based on this i opened trade short for Eur/Usd. However, this pair went on long, i was wondering, then i stumble a news saying that the good data released on USD has triggered risk appetite. Could someone please explain to me.

Thank you.