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new trader

Discussion in 'Beginners Bootcamp' started by d_raouf, Dec 13, 2009.

  1. d_raouf

    d_raouf Recruit

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    hi i just wanted to ask when the signal comes says that new data is about to release for a currency,.. where can i find these data at the moment it is releasing so i can take a fast order to buy or sell
     
  2. Forexwatchman

    Forexwatchman Sergeant

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    Personaly I would not even attempt to trade the news in that way. If you simply go to forexfactory.com the day of the news event, you can click on a green refresh button that appears where the actual data would go for the specific news event. They will update the data within minutes of the news release, which is good enough to plan your entry and exit.
     
  3. ermer magbanua

    ermer magbanua Private, 1st Class

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    time frame

    what is the best time frame to be use in trading?
     
  4. yourtradingdiary.blogspot

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    Best time frame...

    I used to trade the news but lost BIG money, now agree with the others - STAY CLEAR from trading around the news times.





     
  5. cowmadagan

    cowmadagan Sergeant

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    People advise against trading the news because they go through a broker, and more importantly don't have the supercomputers to execute trades in tenths of a second or faster with slippage of less than one pip. I guess that no one here has those.

    On the other hand, if you really want to trade the news, I'd be prepared to lose about one hundred dollars each time per mini lot and I would not use orders (including stops) and don't go to the bathroom, don't go for a smoke, don't answer the phone, don't listen to your wife, don't even blink.
    The market goes up and the market goes down, and you can't rely on cause and effect to trade the news. In the Dec. 09 US non-farm-payrolls the good news caused the biggest drop in risk currencies in about a year despite good US news causing demand for higher yielding assets (good news indicating more stability in riskier assets) for over ten months.
    News is scary. Slippage sucks.
     

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