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Do you check news all day?

  • #21
  • Nov 12, 2012 8:56am Nov 12, 2012 8:56am
Hi, Fxassassin, if what you said that everything is already factored into price before the time news come out, how do you explain the upward reaction if news are better than expected but havn't hit the desired deviation? Why price move?
  • #22
  • Nov 15, 2012 9:48am Nov 15, 2012 9:48am
I would recommend to at least know when will be released any relevant news that may affect the volatility of your open trades. At those moments it is very important to be aware of the risk that you are taking with your open trades. Even more, if you want to open a trade, i would wait until the market calms down after the news release. It is very easy to get nervous during such big movements, and close/open trades that you get regret later.
  • #23
  • Nov 19, 2012 4:21pm Nov 19, 2012 4:21pm
Quoting javicolonbo
I would recommend to at least know when will be released any relevant news that may affect the volatility of your open trades. At those moments it is very important to be aware of the risk that you are taking with your open trades. Even more, if you want to open a trade, i would wait until the market calms down after the news release. It is very easy to get nervous during such big movements, and close/open trades that you get regret later.
The problem is two fold, one in gauging on how the said news item will affect the currency market and two, getting the timing right..So if you are fast asleep when the fed makes a surprise announcement, chances are you are going to miss out on some great movements in the market,
  • #24
  • Nov 21, 2012 10:46am Nov 21, 2012 10:46am
I try to follow news as often as it possible. It's not only for trading it's just because of my habit to stay always informed. The platform I use allows me easily to categorize news in such a way to finв the needed information quickly. It's very convenient.
  • #25
  • Nov 21, 2012 11:27am Nov 21, 2012 11:27am
The only reason I watch the calendar is because it tells me when price moves are likely to happen...I don't based my trades on fundamentals at all. Most days I check the calendar in the morning and note down when important news comes out, other than that I hardly ever check the news.

PS: Not trading full time, but I made more than $5k/mo for the past 2 months...and didn't have a losing month in 9 months.
  • #26
  • Nov 21, 2012 12:07pm Nov 21, 2012 12:07pm
Trading on just fundamentals is never easy, case in point, Euro..we all thought euro was going to zoom to the basement when the EU crisis broke out but that did not happen [but can happen soon given the failed talks on Greece]. So apart from getting the news and making moves at the right time, the challenge would be in deciphering how it will impact the majors..
  • #27
  • Nov 21, 2012 12:26pm Nov 21, 2012 12:26pm
Quoting Forexnuts
Trading on just fundamentals is never easy, case in point, Euro..we all thought euro was going to zoom to the basement when the EU crisis broke out but that did not happen [but can happen soon given the failed talks on Greece]. So apart from getting the news and making moves at the right time, the challenge would be in deciphering how it will impact the majors..
Germany can't afford to let Greece go bust (which is why Merkel just said that a few minutes ago), so the smart money knows that at least for now the EUR isn't going to die. They also can't afford to let Spain go bust as the outcome would be worse for Germany than having to throw more money at those countries. And since Germany is Europe's powerhouse, what they say goes...even if the smaller players act up for a bit before giving in to Germany.

Zerohedge wrote a pretty good article about who owes what to whom: LINK

Either way, if you trade based on fundamentals, you are essentially playing a guessing game given all that government intervention. The markets are "broken" and I rather trade based on price action rather than guessing how people might or might not react to news.
  • #28
  • Nov 23, 2012 4:18am Nov 23, 2012 4:18am
It can be overwhelming for anyone who is just starting Forex trading to ‘connect the dots’ on various news releases and form a holistic picture of the market. It'll be good if you can find some reliable source where market analysts share their overview of the market performance. One of the blogs that I can suggest is Ask Mario Singh blog. You can read the Daily Market Report and Market Brief of the Week there.
  • #29
  • Nov 23, 2012 4:21am Nov 23, 2012 4:21am
Quoting 4exNinja
Germany can't afford to let Greece go bust (which is why Merkel just said that a few minutes ago), so the smart money knows that at least for now the EUR isn't going to die. They also can't afford to let Spain go bust as the outcome would be worse for Germany than having to throw more money at those countries. And since Germany is Europe's powerhouse, what they say goes...even if the smaller players act up for a bit before giving in to Germany.
Thanks for the link, will be checking it out later today and sure it will be along the lines of "wink, wink"..
None of the EU countries can afford let Greece go to the dogs but the prob would be either UK or France since they are both against it. And if no agreement is reached, expect both UK and France to make a big announcement regarding Eurozone..of course Germany will apply pressure but there's only so much Merkel can do at this point.
And no, it is not a good idea to trade on just fundamentals..*sigh*
  • #30
  • Nov 23, 2012 9:36am Nov 23, 2012 9:36am
Quoting MapleLeaf
I wonder if people who are doing a LIVING OFF FOREX (at least 5K per month) check NEWS all day and base a lot of their decissions on NEWS?..

Sometimes I hear people trade exclusivelly watching the graphics and they hardly check any news to start a trade.. Is that really possible?

I'm not really talking about "trading by news".. Just wondering if you take NEWS into consideration and what kind of analysis you apply to news, because sometimes a number doesn't say anything.. For example the same number of UNEMPLOYMENT, can sometimes take the...
If you base your decisions on NEWS, that means you are gambling. Better go to casino instead.

I check the news calendar once before starting to trade, and if there are major news on some pairs, well i dont trade these pairs. Yes i can be on the winning side but i dont take the risk. I prefer sticking to my strategy. Thats my 2 cents
If you aim for the stars- but miss, you still get the moon...
  • #31
  • Nov 24, 2012 11:03pm Nov 24, 2012 11:03pm
Quoting aiming4stars
If you base your decisions on NEWS, that means you are gambling. Better go to casino instead.

I check the news calendar once before starting to trade, and if there are major news on some pairs, well i dont trade these pairs. Yes i can be on the winning side but i dont take the risk. I prefer sticking to my strategy. Thats my 2 cents
When trading the news, rule of the thumb is never trade when market movements are uncertain..
And that is the golden rule for all those who trade on this market - the flip side, most of the fundamental traders think they can predict the movements just as the news makes the headlines..in other words, they would want to trade just when the market may be quite volatile.
  • #32
  • Nov 24, 2012 11:23pm Nov 24, 2012 11:23pm
Quoting MapleLeaf
I wonder if people who are doing a LIVING OFF FOREX (at least 5K per month) check NEWS all day and base a lot of their decissions on NEWS?..

Sometimes I hear people trade exclusivelly watching the graphics and they hardly check any news to start a trade.. Is that really possible?

I'm not really talking about "trading by news".. Just wondering if you take NEWS into consideration and what kind of analysis you apply to news, because sometimes a number doesn't say anything.. For example the same number of UNEMPLOYMENT, can sometimes take the...
to reply to your question, news are not that important when taken separately but a good understanding of the macroeconomic context is very important and it s that macroeconomic study that lead to focus attention on a particular news because it s a potential game changer after only few retail trader have access to news used by pro (Bloomberg terminal cost ~ 1500buck/month ) after news release time is a good time window to open/close XXL orders opposite side of the news because of the liquidity flow of the one converting their currency to play on the indexes or stock of the country concerned by the news will absorb the order

hint: do you think that the Japanese tsunami was good reason for the yen to strengthen and justified a 300+ pip down move on usdjyy and eurjpy or that EUR and USD holders converted massively into YEN to short japanese index and stock to profit from the consequences of the catastrophy ?
Sic Transit Gloria Mundi ~ Thus passes the glory of the world
  • #33
  • Nov 27, 2012 4:17am Nov 27, 2012 4:17am
I think what you are referring to is fundamental analysis or technical analysis.

Technical analysis has been gaining huge popularity in the past decade and it comes in tandem with the tremendous growth in retail trading.
The great majority of retail traders are amateur traders. Learning to trade using technical analysis and reading price action off a chart is much easier to learn compared to fundamental analysis.

Fundamental analysis consists of reading markets events, geo-political issues and economic numbers. From there, a trader will form an opinion on where a currency might be heading.

Generally, traders who rely on fundamentals tend to trade on higher time frames and tend to hold on to their trades for longer period.
Traders who rely on technical and price action tend to trade on lower time frame and hold their trades on much lower time period. This also applies to traders who utilises EA or trading robots as these automated systems trades on chart patterns and price action only.
  • #34
  • Nov 29, 2012 3:27pm Nov 29, 2012 3:27pm
I know traders that make 6 digits income and they don't look at news at all, all the news is engraved in the chart. On the other hand there are some who would not trade without it. It's a personality thing.
  • #35
  • Nov 29, 2012 9:53pm Nov 29, 2012 9:53pm
Yup! It is challenging to just trade on the fundamentals, a lot more risky than just using the technical indicators..but that's the fun. And let's face it, nearly all traders have tried their hand at trading on fundamentals - you can chalk this up to human nature. We hear some news and immediately think "Oh, the market will react to this etc" and we make our trades.
The point is that there are a few traders who trade only on fundamentals whereas a big chunk of all traders do trade using fundamentals sometimes when a big newsmaker hits the screen - like when the Greece debt crisis broke out.
  • #36
  • Nov 30, 2012 1:30am Nov 30, 2012 1:30am
I always avoid news when it released; cause you know price going crazy and hard to predict.
  • #37
  • Nov 30, 2012 2:19am Nov 30, 2012 2:19am
Quoting MapleLeaf
I wonder if people who are doing a LIVING OFF FOREX (at least 5K per month)
  • #38
  • Nov 30, 2012 5:27pm Nov 30, 2012 5:27pm
True 'dat..and that's what makes it so alluring. Think of it in terms of the russian roulette and you'll get the general idea.
That's why you need to have the experience to trade only on fundamentals..quite a few traders do so but these guys have years of experience under their respective belts..
  • #39
  • Oct 19, 2014 7:39am Oct 19, 2014 7:39am
stop looking at news which is the past look at price which is the present
  • #40
  • Nov 10, 2014 9:01am Nov 10, 2014 9:01am
i check the economic calendar every time before i start my platform. it never hurts to know whats coming ahead found a very detailed calendar that made me profit several times
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