Keeping up with news as a newbie

[Pettyeve]

News is very important for the trader. It is some thing that the newbie trader will be keeping an eye on, listening to foreign economic news is very necessary for him or her to know how the movement of the market will be. Even if he or she is not to be a fundamental trader who will be trading by news, knowing about the news is important.

 

[anosocialnet]

Knowing about the News is very very important, and the more informed we are, then the more smarter we work. So that will help us to know and predict the future in the Market. That's mainly why we need to keep up with News every time or else, we get deformed because of not informed.

 

[winuga]

fundamental news playing big role in affecting market movement, big news awaited by many traders to make decission what and when to trade and to enter the market, but spike may occur while some big news releases and usually makes beginner traders confuse do not know what is the correct trend because market moves fast up and down uncertainly... better using small volume to trade to avoid bigger lost or just wait until trend seem start to appear

 

[Decub]

Yup and this form of trading requires quite some good knowledge of Forex. I guess trading around news time isn't something any trader would just bash into. It requires a good understanding of how the market would move at each news and studying well, the economic calendar.

 

[anosocialnet]

That is right, i think that the News is really meant for the knowledgeable traders and though Newbies can get some thing from it because it well help them too in trading ... but it will work best with a good trader, which will apply that to work to get good result out from those News.

 

[gkintl]

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.

It is very difficult to stay focused as a newbie. There are plenty of chances to get distracted towards new strategies and suggestions. Thus, it is better to avoid trading news in the beginning stage of ones forex career. It demands not only fundamental knowledge but also about currency correlation. Even professionals fail sometimes trading news. This is because technicals over ride fundamentals in extremely short time frames in the market. So, unless and otherwise a trader and in particular, a beginner, has the financial muscle and nerves to stand the stress, it is better to avoid trading the news.

 

[Faal]

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.

News trading is critical, so new traders need to pay attention here for a long time! Actually, news trading doesn’t mean only data based trading, traders have to understand the actual meaning of it! I have learned news trading basic tactics by one month demo practice!

 

[Lee Mark]

Knowing about the News is very very important, and the more informed we are, then the more smarter we work. So that will help us to know and predict the future in the Market. That's mainly why we need to keep up with News every time or else, we get deformed because of not informed.

When I was a new Forex trader then I didn’t follow fundamental events, as a result my profit ratio was below 50% but now it’s around 70%! That’s the power of the fundamental analysis! But, it’s not easy to understand the real meaning of fundamental events!

 

[The trader]

As a newcomer I fall a great loss , sometimes has lost almost whole balance especially when tried to recover instant loss by revenge over trading.

 

[Tom Latham]

Please, don’t go for any particular monthly return! Because, there is no guarantee! In addition, here you can’t force yourself to make money. Be flexible and always try to use good opportunities; that’s the principle of Forex trading.

 

[Eduardo Lucchese]

Broker choosing is a crucial step in Forex and if you make a mistake here, you will have to suffer in the very long time.

 

[Oscar Shumack]

Indeed, traders are getting habituated to seeing all fake things and they are adjusting with the situation. A scam and unregulated broker make things even worse.

 

[The trader]

as a newcomer that is really important to make sure psychology of school including a practice account.

 

[Alexander Hudson]

Scalping is at the peak of its popularity and a growing number of traders are falling on this type. Scalping has become a center of attraction among traders and I also like this type of trading.

 

[LouBega88]

They are very much indifferent to taking low risk and most of them have other professions beside Forex trader.

 

[Gito Dinev]

Flourished trading techniques work as a weapon in Forex. If a trader is flexible about trading styles, it’s the best for him. This quality works as a weapon to the way of traders’ success.

 

[Nayek Pichai]

Forex seems complex initially but it gets familiar over time.Trading will get easier to you over time and never brood over losses because it weakens a trader.

 

[LouBega88]

Many traders focus on news for news trading because news trading helps traders earn big. But you have to be cautious enough before news trading.

 

[Bahiya Shinam]

The better your price prediction is, the more flourishing your performance will be. A trader’s performance is compared to evolutionary process as it goes through several stages to reach the stage of development.

 

[Gito Dinev]

Be strategically armed before entering forex. Without building such qualities, achieving trading success is a far-fetching target for traders.