I am a purely technical trader and I never ever trade the news or a big fundamental event. Some traders might say that it’s a mistake but trading news is like rolling the dice and it’s pure gambling. When traders trade the news, they will usually wait for the actual numbers to be released and then bet on the direction of the news. Such traders usually have to make decisions quite quickly because the price can take off fast on news events. Why this is a really bad idea, we will see shortly. Some traders told me that they don’t even wait for the news to be released and just place pending orders in the market before the ... (full story)