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Thread: Trading the news - What to avoid, what to know, and how to trade with it

  1. #1
    Registered user Yayami's Avatar
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    Trading the news - What to avoid, what to know, and how to trade with it

    dear fellow members of forum,

    in this opportunity i'd like to share some trading tips for you according to my little experiences. this might be useful for traders who seek for market truth and i'm so sorry if this topic may not appropriate for experts because this actually intended for beginners to advanced struggling traders. hereby i'd like to receive all the critics about this thread later.

    description

    in forex trading, we often read about news trading. what's that all about anyway? briefly, news trading means we're trading by reading news information and gather all data to get the conclusions later. many traders specially those who believe in news, they take news as long term cause which move the market. but remember, understanding this fundamental analysis isn't as easy as it looks.

    what to avoid?

    1. other people's thoughts on any forum discussion. believe in our own analysis and understanding.
    2. many opinions from experts about news could be a trap, exercise caution and don't believe them easily without self-analysis.
    3. only take high impact news for better volatility which usually indicated in red on many news calendar.
    4. avoid news trading if you're not certainly sure about what you read.
    5. only trade when you sure the market become dovish or either hawkish.
    6. don't gamble with news with random trades.
    7. avoid using indicators because they may not work properly during the news release.


    what to know?

    1. news is full of surprise and may cause instant movement within seconds.
    2. it's hard to take orders during news release due to market highest volatility.
    3. pending order works fine but sometime it may costs us some missing pips of opportunity.
    4. the rule of "history repeats itself" isn't always happening with news trading so be careful.
    5. always pay attention to current currencies growth and weakness.
    6. focus in long term progress, not in shorter term.
    7. take times to understand about the same news with its different movements yet the same result.


    how to trade the news?

    1. choose which news we want to trade. example, i want to trade with today's official bank rate of gbp. i use the calendar of forex factory.


    2. analyze the previous result and make some reviews about couple releases back. and don't forget to read another related information below.


    3. make some comparisons between previous releases. gather the ideas later.



    4. look at current price movement, mark the release hour to ease our trading.


    5. later when the time comes, set pending order with buy stop and sell stop 20 pips away from current market price.


    6. let the market runs for you and you can either set the take profits based on your money management or cut the trades later directly by yourself. it's up to us.


    notes:
    1. practice this method many times and experience many news trading in demo first before using it on real market.
    2. stop loss amount may vary and try to set it along with the pending order. try to set the stop loss amount by risking 20 pips only.
    3. never trade the news without stop loss.
    4. i don't explain about how to place the stop loss because i think everyone already aware about the risk of trading. anyway, i also wrote it on my 2nd point above.
    5. stay patience because the reward may be greater good with only by risking only 20 pips.

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  2. #1001
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    Quote Originally Posted by sniper007 View Post
    The news trading is risky to the point where I don't believe that there is a way a trader could have a safe trading method with it. For the traders to become profitable in this business. I will suggest that they avoid news trading because there hasn't been any confirmed means by which the trader can make use of in having a good controlled risks. News trading isn't what I think most of us will want to engage in.
    You cannot avoid news because it is risky if trading the news is something you really want to do, you must look for best ways to make your risk very minimal, that way, whether you enter the trade or not, you will be rest assured that nothing bad will take place, I think we are just not applying the right lot when we trade the news, we easily become frustrated by high risk, news is awesome when we use more patience and less risk.

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  3. #1002
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    I really did traded the news when I was new to the market. But with time I got to learn on how risk it is to trade the news, therefore I stopped making use of it. If we want to become profitable in the business. One thing we have to keep of from is the news trading. I try as much as I can to say away from it, as it also leads to so much mistakes as well, I know the technical trading could be complex but when learned could be profitable.

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  4. #1003
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    for the news reading i think this is a possible way , but the point that there are some points which must e regarded like the predictions for the news , as many times the teal impact can be different from the expectation on the news . also some TV channels try to make some illusions on the manner in which the traders can understand the market

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  5. #1004
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    Quote Originally Posted by Leonvic View Post
    You cannot avoid news because it is risky if trading the news is something you really want to do, you must look for best ways to make your risk very minimal, that way, whether you enter the trade or not, you will be rest assured that nothing bad will take place, I think we are just not applying the right lot when we trade the news, we easily become frustrated by high risk, news is awesome when we use more patience and less risk.
    no doubt that when you enter in news trading you find it more difficult as compared to others strategy as market becomes more volatile but it is the easy way to earn a huge profit from the market you just need to follow the real trend with the good technical and fundamental analysis because it can gives you deeply information about the market positions.

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  6. #1005
    Registered user sniper007's Avatar
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    I think the trader should know that the news is not tradable directly, I only do take time to read about the news and I don't bother taking trades on it. I mean, I also know that at the end of the day, the news will print it's self on the chart in form of the candle stick pattern and then I could analyze it and still trade it, but with technical analysis.

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  7. #1006
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    Quote Originally Posted by sniper007 View Post
    I think the trader should know that the news is not tradable directly, I only do take time to read about the news and I don't bother taking trades on it. I mean, I also know that at the end of the day, the news will print it's self on the chart in form of the candle stick pattern and then I could analyze it and still trade it, but with technical analysis.
    It is a wise thing not to trade news if we are solely making use of the price action and technical analysis otherwise we could lose money. As you say the effects of news really get reflected on the chart and so we can always consider the chart setups for taking our trades. With price action analysis we should look for opportunities to trade when there are no upcoming high impact news in the near time.

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  8. #1007
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    Quote Originally Posted by sniper007 View Post
    I think the trader should know that the news is not tradable directly, I only do take time to read about the news and I don't bother taking trades on it. I mean, I also know that at the end of the day, the news will print it's self on the chart in form of the candle stick pattern and then I could analyze it and still trade it, but with technical analysis.
    I doubt so, because there are some traders that can trade the news actually, the thing is that trading the news is risky for the common retailer trader like you and I, but there are some of the big boys in the market that does the news trading most of the times, they have what it takes and also they are great economist, so we can see the different and why it is better to trade the market with the technical method as the technical trader.

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  9. #1008
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    I think that your thread is an eyes opener for so many traders who are having the interest of trading the news. Many traders do think that trading the news is a cheap thing to do, but it is not so at all, there are some few things that we must understand about news trading before it can become a good one in our hand that can lead to profit making.Most of the things mentioned here are some of the things that we must know about news trading otherwise it can lead to loss of trades.

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  10. #1009
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    Market movement after the news are realeased is unexpectable. It is better to wait for the news to be released and to trade then. Market will find direction and we will be able to follow it with less risk than placing pending orders before the news. It is better to stay away from news and trade when forex market is no so volatile

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  11. #1010
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    what is on your mind it is same with most of traders here, do a trade in news time can be bring a great profit in a short time and most of traders lovely this and for me i prefer to avoid this because it makes me confused and danger due the price have a big volatile and unpredictable and only a traders with a good experience and have a good strategy can able to do this.

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