taskfries posted: Refreshing up with everyday news is cool but while making trading decisions it’s important to consider all aspects and not just news. Everyone knows, forex trading is affected by more than just news.
This is the complete truth that every 'News Trader' and every other style trader should understand. News is just one of the factors while, I repeat, it is difficult to predict.
Yes indeed not easy to predict News effect, sometimes forecast and actual data should make the currency being stronger, but what happens is opposite, because this reason not all news giving exact impact into currency but reading the news is important because the trader can make preparation trading, like as technical trader usually stay away from the market if there are news high impact like as NFP
UweMoench posted: News trading seems exciting. But it is not easy to predict the move. It happens so quick. Novice traders do news trading due to the fear of missing a movement.
Yes like as NFP news on the last Friday of this month, effect the news giving high impact to the market, where suddenly some pairs move rapidly, like as EURUSD move up only a few minutes then bounce back and then up again, it can make confused to handle position, because this reason some technical trader prefer no trade.
karlaelliott posted: @ MarcellusLux I absolutely agree with you. Always going with the news would not prove to be a good idea. It is of course very essential for all other aspects while trading forex.
Those traders who are keen to trade only the news races are just looking for ways to make money fast in Forex, but forget that this is day-to-day hard work. Analyzing news, possible risks, risk plan and money management, calculating entry points, analyzing related markets and political events, looking for possible options for exiting the market and making the most profitable decision, these are, in general terms, what is important.
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