- This topic has 11 replies, 1 voice, and was last updated 6 years, 2 months ago by
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Most of the times, there is much news which is being released every day. Most of this news are about the economic world and how the changing economy is affecting our lives. It is no surprise that Forex market is also in the list of newspaper publishing and you can get a lot of news if you just read some Forex newspapers. It is important to know and keep yourself updated with the economy world Forex news, as the Forex market is related to the global economy. But if there is too many Forex news about one market, there is a chance of information overload. Many traders do not like the news released about the market and surprisingly, they are doing very well in the market. So it brings the usefulness of news to questions and you need to know if you should follow news releases or not.
Listen but only important news
You cannot live on the earth if you tried to survive alone. You cannot keep your strategy all time updated without knowing if there is a major economic shift. The Brexit has affected the traders who traded with Great Britain Pounds and if you did not read newspapers, you cannot know what happened in the Brexit. It is affecting the global economy worldwide. You have to listen to the economic Forex news but at a minimum level. There is much bogus news which is published every day just to fill their pages, do not pay heed to them. Only keep your eyes on the major newspaper of the world and some trusted Forex newspapers. Chances are they will give you reliable and Forex related news which you really want.Major market Forex news
You do not need to read the all of the newspaper to know the economic changes. Just a hint is good for you. You can scroll down your eyes on the headlines of this Forex news and you can get the idea. Also, do not try to know all about the world news. Just got news about your trading currency in the market. If there is something important going on, know it. This is all. There is no need to know every corner of the economy and jam your head. Only keep your focus on the major events in the global economy.Most of the professional traders always suggest the novice traders learn the fundamental analysis before trading the live assets in the market.Perfect trade execution
In order to make money consistently in the Forex market, you need to focus on high-quality trade execution. The novice traders execute random trades and ultimately blow their entire trading account. But as a full-time trader, you need to find the perfect way to trade the live assets in the market. And for that, you need to have a very clear understanding of the basics of the Forex market. It’s true that if you are relatively new in Forex trading then mastering the basic trading skills will be extremely difficult for you. Those who strong determination, devotion and dedication in the financial market are sure to success in this industry. As a new trader, you should also learn the price action trading strategy since it will allow you to find the best possible trade setups in the market.Conclusion: Forex news is important to know the global economic movements. Keep your news knowledge at a minimum level to focus on your trading. Always try to execute your orders based on the technical and fundamental analysis. As a novice trader, you should also learn the art of price action trading strategy since it will allow you to find the best possible trade setups in the market.
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Hello Adam
thanks for the clarification. You are almost right for all of it. Keep it simple and stop the EAs on important fundamental Forex news. -
Anyway you will have a lot of losses , sometimes profits but most of the times you will end up loosing :) you know these Forex News are for this reason :))
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Yes, exactly Zack!thats why I agree with Petko to stop the EAs on the important Forex News
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I hope all understand why is hard to say for us with 100% stop it or not?
1. The Forex news affect the markets every time in a different way so we never know what will be the movement before, during or after the Forex news. So by stopping on those we limit the risk.
2. The EAs are created on historical data including the news, so basically they need to stand on these news and if we go on stoping, managing the trades, we do go back to manual trading.
So these are two major issues or theories that you need to choose one.
Also it depends what kind of Portfolio of EAs you are trading. If you are with trend following strategies and the Forex news go strongly against the trend you will expirience a drawdown in you balance.
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totally agree with you…for me that is not the huge dilema, becase i am scalping more (even i hold some Bitcoins in an investors mode:) but the Forex news and not really the issue for me…i mean the market is 24 hour and its so much time to trade, why we need to jump in the fight with the news, when we can trade just when its easy peazy
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How about the biggest Forex news – the NFP that is coming up. Do you guys trade on that or you are out?
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Petko had one article very interesting about Forex news the NFP, where he was saying that it is like the fight in the bar. The smart people are staying on the side and playing chess, and not joining in.
I would like to ask something else in here. Do the Forex news interfere somehow the cryptocurrencies or not? I do not think so and I could not find any information, so I decided to ask in this Forex news topic. -
There are many news that interfere the Cryptos, but those are not the Forex news.
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You are right Thapelo. How ever when it comes to cryptocurrency news, there are much more volatile moves when any comes. Forex news are scheduled and expected, that is why the moves are more predictable.
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I would like to ask something here. I see that there is no exact rule to pause the EAs during the Forex news. Is it possible than to trade Expert Advisors only during the Forex news?
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Hello! Everything is possible nowadays, the question is “Is it worthy?”
You can predefine the hours of trading in EA Studio and FSB Pro. So when you run the generator they will create EAs that are trading only during these hours.
However, I do not suggest you to use the Forex news as a moment of volatility, because the volatility is not stable there, every time the Forex news are different.
I do not think you will end up with robust strategies.
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