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Beginners In Trading News

  • #1
  • First Post: May 29, 2007 9:44am May 29, 2007 9:44am
This thread is set to help those who are beginners in trading news (forex ) and new in the forex buissness in general . i am one of the beginners so id apprecaite any help provided here from people who know .
thanks a lot

- How is news traded ?
-when is it better to trade : after the news by 5-10-100... minutes ?
- is the economic calender in forexfactory enough to give traders the ablility to trade news ?

and whatever u people can give , we are thankfull

EsCaD
Keep Trading - €sÇaÐ | • Mα7мoυÐ •
  • #2
  • May 29, 2007 10:10am May 29, 2007 10:10am
Generally speaking the news should never be traded by someone new to forex/trading. The way the "pros" do it is seconds after the data is released (FF calendar is good, but not quick enough to do actual news trading) execute their trades. Then there is slippage and a whole whack of other things that could go wrong, so what I am trying to say is, that IMO, news trading is not worth it unless you have a huge account, and a ton of experience, it is just too volatile and it is very likely it will wipe your account out if thats what you first jump into. I'd try to conquer just daytrading first.
  • #3
  • May 29, 2007 1:37pm May 29, 2007 1:37pm
Quoting EsCaD
This thread is set to help those who are beginners in trading news (forex ) and new in the forex buissness in general . i am one of the beginners so id apprecaite any help provided here from people who know .
thanks a lot

- How is news traded ?
-when is it better to trade : after the news by 5-10-100... minutes ?
- is the economic calender in forexfactory enough to give traders the ablility to trade news ?

and whatever u people can give , we are thankfull

EsCaD

Aye would echo the above don't try it on a live account. Best to watch and learn the fundamentals, patterns and price action involved. On a demo or paper trading. Generally don't trade the first movement on high impact news, it can be a false move, normally in the first few minutes. Use nice tight stop losses and just watch and learn. FF calendar can be alright for the bigger moves, but the smaller 20-30 pip moves you want something faster. Trading the news is very risky, it's about the fastest way to lose your money. So be overly cautious when trading the news and focus on fundamentals and price action.
  • #4
  • May 29, 2007 9:09pm May 29, 2007 9:09pm
the news are connecting each other, find the correlation first.

individual news release are only piece of the puzzle
  • #5
  • May 29, 2007 10:07pm May 29, 2007 10:07pm
Quoting EsCaD
This thread is set to help those who are beginners
Anecdote:
I have heard that good Football/soccer players can make a lot of money.
Tell me how to "Bend It Like Beckham" OR "Stepover like Cristiano." Please... I really need some help here.

Answer:
First = the inherent Ability.
Scnd = the Desire
Third = the Practice.
Fourth...
Fifth...
.... ....

Sorry But...
I actually want to save you money even though your losses may be my gains.
  • #6
  • Last Post: May 30, 2007 12:43am May 30, 2007 12:43am
Quoting Bemac
Anecdote:

Sorry But...
I actually want to save you money even though your losses may be my gains.
Your exagurated self confidence is going to shred you appart.
I dont think that your the only trader who might gain , though i know not if u do in the first place.
You once were a beginner and not sure if your still, you did not learn through the extraordinary abilities of your sofisticated mind, but through what others wrote and suggested.
If your that great of a trader , what the hell are u doing reading beginners posts , rather than bying some island .
Thanks for the help anyway
Keep Trading - €sÇaÐ | • Mα7мoυÐ •
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