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News Trading

Discussion in 'General Forex Talk' started by talk2shefty, Feb 4, 2010.

  1. talk2shefty

    talk2shefty Recruit

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    Hello Member,
    I Am A New Trader And I Use Fpa Information They Send To Me To Trade News. But There Are Some News That Is A Five Star News But Fpa Dont Send Me Anything Regard This. Please How Will I Trade This Kind Of News Or I Should Trade It With An Indicator? Does This Kind Of News Affect Currency.
    Example Of This Type Of News Is Eur Interest Rate Statement Of Feb 4th 2010.
    Please Advice
     
  2. insidetradellc

    insidetradellc Recruit

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    trading the news

    News trading can be great, but it can also be a little shaky, i like to have options in place if i am going to trade the news aggressively and in forex you cant do that ....
     
  3. PipStar

    PipStar Sergeant

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    Yes, you can do that in forex. You can trade currency options.
     
  4. Awais Rasheed

    Awais Rasheed Private, 1st Class

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    If you are new you better avoid news trading for a little while. Get some experience and get acquaint with the news trading. The kind of the news you asked, you should better watch the historical data so that you can know how the data affected the market.
     
  5. cowmadagan

    cowmadagan Sergeant

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    The thread on scalping discusses this with some detail.

    Even if you're successful on a demo trading the news twenty times, don't expect you'll still be profitable on a live account. It can always go wrong.
     
  6. Pharaoh

    Pharaoh Colonel

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    I have a sneaking suspicion that some of those star ratings on news events may be a little out of date. Crazy Cat monitors things very well and only sends on events he considers to be worth the risk in current market conditions.
     
  7. West Coast Pips

    West Coast Pips Sergeant

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    I have been trading news releases for about 5 years now. I would also agree that you should have a sound understanding of forex before embarking down this road.

    News trading can certainly make you a lot of money. Though you have to do a hell of a lot of research and testing to determine which brokers will actually enter you into a trade around news releases. Demo platforms may not necessarily emulate what a live account with the same broker will do. I have opened many live accounts with different brokers. Many of them do not live up to their word about being able to trade the news with them. Bottom line is you just have to figure this out yourself. Open live accounts with different brokers but make sure your deposit is small and that when you do trade you risk as little as possible. Test, test and more test; this will elevate your knowledge about trading in general and ascertaining which brokers are good for you.

    To give you an idea of what news releases are worth focusing on have a look at this website: Forex Calendar @ Forex Factory. I look at this website several times a day. What I really like, and is good for new traders, is that the releases are colour coded to rank them in importance. The column that shows 'impact' rates the releases from yellow to orange to red. Yellow releases are not that significant. Orange ones can have some impact and red ones definitely can be very market moving.

    Also check this website out: Forex Trading Calendar | Currency Events Calendar. It shows you the releases for the week and ranks them low, medium & high.
     

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