If you're a new trader please read this....

If you're a new trader, and wonder what's going on....

Please read this

FOMC Decision And The Markets

In order to make money at trading, you need to know when not to lose money at trading. Many of you will be watching your MA crossover systems, trying to make sense out of every twitch of the charts.

There are times when what is happening, fundamentally, should override your devotion to Technical Analysis. As you gain experience, your ability to apply background information to your chart studies, will enable you to assess a trading decision's risk more accurately.

There are certain times in a trading cycle when Account Preservation is more important than Account Growth.

This is one of those times. Consider if you actually want to be trading at all, at the moment. If you decide to so do, then tread cautiously.

I strongly agree with you that it is sometimes wise to preserve your account rather than increasing what you have in it or wanting to get what you have lost at all means.
However i will need any member's support to explain in clear terms how to use the factory calender with the red yellow and orange fire symbols to trade a pair.
Thanks
George.

It was the best of times, it was the worst of times (A Tale of Two Cities, Charles Dickens) in as much that if you KNOW what you're doing there is money to be made by using the Calendar.

As a trader who works off longer-term charts, I do not trade the news, as such, and would always advise new traders to avoid trying it.

However, it is worth reading the stuff posted around the important releases (Highlighted in Red and Brown) to be aware of when NOT to trade, or wait until the news release rumpus has settled before taking a decision on the direction of your trade.

During normal times (which these are not) the news has very little affect on the longer time-frame charts, but Interest Statements will have. But normally if a Bank Rate is to be raised, or lowered, you'll usually see lots of chatter around the forum so will have an idea of what the effect may be before the event.

Peter
You have a Valuable thread here.
Funny how you 1K folks get smarter as I get older. Kind of like my parents where.
Anyway something I do that helps with the news.
1. When first logging in, go to the FF Calender and place a fat vertical line on your charts at the times of news announcements that may affect your pairs.
2. Recently I have stopped taking any trades 30 minutes on either side of major news no matter how good the setup looks.
3. Just a further note about this to newbies: the news does not have to be about one of the countries in your pair. For example
US non farm payroll if its a big mover can cause movement in CHF/JPY, GBP/CHF etc.etc.
Hope this helps somebody.