DislikedAs stated, I am a newbie also, but one of the first lessons I learned was DON'T TRADE THE NEWS. Trading801, I forgot to mention on my previous post, but this business (forex) requires discipline like maybe you've never exercised before. I find it to be a great opportunity. It helps me be more disciplined at everything else I do (I'm a lifelong procrastinator). Failing to learn the lessons taught on here COST MONEY.
At about 12:20gmt today, I got out of a long trade at 1.4257, with +10 pips. I was sorely tempted to trade the news, feeling like I had a good guess at where it would lead. There's you clue - all I had was a "good guess"! Getting out caused me to miss 90 more +pips, but guess what? If that NFP would have gone the other way, I easily could have lost 90.
Gotta learn discipline and live to make another trade. There are a million good trades right around the corner.
Got windy, sorry, but good luck.Ignored
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Up or down, gimme a ticket