Keeping up with news as a newbie

[Daisy]

One of the thing that newbie should also pay attention to daily is the news release on economic and financial news of major currencies being traded. This will impact your trades daily. So, if you get in during market spike, you could gain or lose significantly. If you know when such news are released like nfp then you will either scalp the news trade or avoid entering the market as you are trying for long term trading. Recently, the shut down of US capital hill affects the usd, making it weaker against the euro. Or the Syria war crisis also caused some affects on Eastern currency, so news do affect the fundamental behind price movement. You should keep up with news daily.

 

[gkintl]

As a beginner it is nice to follow economic or political news. Monitoring price movements that emerge as an outcome of news is also fine. However, it is better to avoid trading during the news time, as a beginner. It would only add up to confusions. It needs a plenty of trading experience to precisely enter and exit on the basis of news. The market volatility may cause stop loss orders to get hit very quickly during news time. So, till a trader understands correlation between currencies, it is better to stay away from trading during news time.

 

[Daisy]

News will hit your trades really hard and it makes you so wrong when you're used to think a certain thing about a certain pair. I mean euro/usd will not perform like it use too in bad news week. Lately, you have seen how erratic it has been. So, in news time, you must use stop loss cause it can empty your entire account over night as you sleep. News cause your pairs to act in very erratic ways that you might have never experienced before.

 

[sindarin]

keeping with the news is one of the most effective way to earn money through internet and if you can you also scalp in this way, there are so many traders that only trade when the news released and in fact gain a lot of profit with following the trend that created by the news.

 

[Daisy]

keeping with the news is one of the most effective way to earn money through internet and if you can you also scalp in this way, there are so many traders that only trade when the news released and in fact gain a lot of profit with following the trend that created by the news.

Yes, in some news, you will get like more than fifty pips per release so its pretty good for scalper. Now, you must watch for those important ones. It can also dip fifty below as well as rise so beware of that as well. I mean what is up must go down as well and what is down will go up. Its the elevator in forex. Just make sure you catch it right. News play a vital role in forex so make sure you have it send to your smartphone or emails or facebook.

 

[Master Forex IB]

There are many things as sigmals robots to trade in forex market. Some provide good signals to get sure pips.A trader should know all updates of market and news release so that he can know the current situation of forex market. I do not believe that 90to 98% accuracy is possible ,Some times they are use full but not forever.

 

[Daisy]

Some bots are just bots and some signals might not be that accurate or good and some signals services are actual scams to sell to forex traders. I think just understanding news and market psychology can help us trade. We will see why price will move a certain way. I mean there are so much news movement so you must watch out for that or else you will lose a lot of money due to lack of current knowledge in the market.

 

[Decub]

News is the hub and the main determinants of how the market will be or look like. Some traders even wait for it as a sign and reason to enter the market and as a newbie, it is one of the things he just have to stay with. It is ideal that the been trader understand which news has high and low impact on the Forex market.

 

[Daisy]

I think we all need to be aware of high impact news as I can see how it devastated my predictions. Even if the best pairs have been performing for you, during bad news, it will reverse like a storm and it will not help so watch out for that. As long as you know what is going on to your current currencies you will know how to react to it.

 

[barood4money]

As a trader it is always advised to stay updated with the news. As news states the economic condition of the country. It will be very beneficial to make strategies and plannings. And you will be flexible on taking decision.

 

[ryuken]

Newbie mindset is difficult to manage because it keeps you from taking some harsh decisions in the life. You end up making some strong choices yet some of the time you lose money and some of the time make money. so you have to make sure that news also have a good source of information.

 

[Ruchibhar]

being a newbie, one has to follow recent news and for cast to understand the market.

 

[anosocialnet]

If we are not informed, is likely that we will be deformed. So News is one of the easier ways to know what the Markets will look like, As Japan had a very terrible disaster, called Tsunami, I think that's had an effect on their currency in the Market. So that's why we need to stick to News as to get informed, and in time.

 

[ryuken]

Most of the time newbies can take a look at the news and understand how they can use the news for their trading decision. not all the type of the news are going to help the person to trade. In some cases people end up not taking serious action and sometimes they take wrong actions.

 

[barood4money]

Well, not only for newbies but also for experienced traders it is very necessary to stay updated with the news. Because it will help you to trade at specific timing. For newbies it is more necessary to stay updated.

 

[Daisy]

Well, not only for newbies but also for experienced traders it is very necessary to stay updated with the news. Because it will help you to trade at specific timing. For newbies it is more necessary to stay updated.

Yes, newbie and old traders all need to keep up to date with news that they're trading cause they will lose out a lot when they don't keep up with news. News can impact them significantly in every single way and so to avoid surprises they should keep up with news. As traders we should not be surprise at all. We shall know how our currencies will behave.

 

[Decub]

It is the news that makes the market. That is the more reason why you find out that a lot of experienced traders are not just trading everyday. They quietly and carefully watch the news releases and have a feel of what the market would likely bring and channel their trades towards that. It's not about trading all the time but about how many of those trades eventually became profitable.

 

[anosocialnet]

To becoming a good trader is not all about trading every day, so he or she can make profit from the market, he that does so will not be a smart trader. But a smart trader has to know the market very well or the future behavior of the market but before commencing his trading, so he can be on the profitable side because he has been informed about it and in time.

 

[sindarin]

It is true that news will give some impact to the market and without doubt will make sentiment in the market depend on the result of the news, and ia agree with TS that we should keep up wqith the news, and if you still don't confident with the news trading you should skip your trading during news, at least about 5 or 10 minutes.

 

[anosocialnet]

We really have to keep up with News every day as a smart trader or if we want to be a smart trader; we have to, because that will give us in details on how the market condition will looks like. And from the News that we get daily, which is the best alert to inform traders when to trade and when not to trade in the Forex Market. It is better keeping up to the News about Forex Trading, mostly it pays.