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Read all about it!! News trading!

Discussion in 'Beginners Bootcamp' started by Ricex, Jan 31, 2010.

  1. Ricex

    Ricex Sergeant

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    I'll get to the point straight away, listen up my fellow FPA'ers I want to save you some time and maybe some money.

    Every week underneath the signals put out by Felix, Sir Pipsalot and Crazy cat are the one post wonders who plead and beseech the providers to tell them how to profit from these magical numbers. They ask the same questions almost daily without even bothering to look around for the answers themselves.

    Here is a polite response from our revered Mr Cat to one of the congregation:

    ......I do

    thumb_Safety_safety_sign_slippery_when_wet.

    People get real, professional news trading involves investment and study just like any other trading, yes you might get lucky and pick up a few pips here and there, but that's not trading that's back to gambling and sooner or later you'll give it all back and then some. If you want to make this work then for goodness sake put a bit of effort into it, this is not feeding time down at the duckpond, this is FOREX and it will chew you up and spit you out without missing a beat.

    The service provided free here at FPA is excellent but what if it stopped tommorow..... what are you going to do?

    Come on people get your head out of the clouds and back to earth, if you want to trade profitably and consistently get yourself educated and get businesslike about your forex endeavour.

    If you still think news trading is for you then I suggest you go practice here :

    whack a mole
     
  2. Forexwatchman

    Forexwatchman Sergeant

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    I concur. If you are truly a newbie, then don't EVER trade the news. Use the news to understand the fundamental analysis of a currency, but not to trade off of. I personally believe that news traders work twice as hard for less pips than a technically and fundamentally balanced trader. Both involve intense study, but like you said Ricex, forex is a business endeavor and not just another online casino. So stop looking for the fast money, it's not here!
     
  3. Pharaoh

    Pharaoh Colonel

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    Even though I spend most of my forum time here in a news trading forum, I'm mostly a technical trader. The trick is that I use the FPA signals to warn me about things that could mess up the beautiful patterns on my charts.

    Whether you news trade or technical trade, you need to do some work, not just ask "where's the free source of money". You can make money in forex, but it's not easy. I'll bet that well over 50% of the people who lose money in forex do so because they are only working their way through a long list of get rich quick schemes.

    Do the work. Figure out what tools you need to do it. Check for free ones, but buy the ones you need if they aren't available for free.
     

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