so the Market Makers and those in the know then take the opposite trade
(imo) best to just trade the overall trend - on non major news days
and then only trade very select news
its also alot less hassle, and you can take the day off on major news days
Thanks for the reply, WR1. : )
Any idea you can share so that can we estimate the overall trend better without looking at the news?
Why we need to avoid trading in the 1-4 days of the month?
Once you can find the overall trend easily there's really no need to trade volatile news
as there are plenty of other much less unpredictable trades and usually much nicer to trade
you can build a strategy for no.s 1-4 but even then the odds won't always be in your favor
ive tried it, and now prefer just a few news events
it does nt mean to say know one can make money off news, if you read the FX Factory posts for certain news, some are making good money, but you the tell ones that have studied and traded that particular news event, over and over
i have a few particular favorite news events, but some of the others really just are n't worth the hassle
And as most non major news (and some major news) is priced in, just use the Daily and Wkly charts for the overall trend
and also the 4hr sometimes for entry's and exits - and then occasionally look at the Monthly chart as the Wkly trend is multiplied in strength if its in the same direction as the monthly
then just trade the trend and the continuation moves, always in the direction of the main trend (no counter trend)
or hold longs / shorts for most of the trend (until it ends)
you only need a very few good(ish) indis, that can all be quite easily found on this site to trade the main trends
sounds simple - well for the most part it can be, it just takes time to see the trends, but only really once you ve seen a few yrs
and or do alot of back and strategy testing
the Wkly chart is the best of all - then the Daily, master these, and most of the hard work is done
Is someone news trading (like the first minute when the news comes out) and how do you can low your risk but can go with the high profit ratio?
I appreciate the reactions to learn.
There are no news, since the market is rigged. The only thing you can count on is volatility in the time of news. Nothing allse
Forget news trading - that is what they are counting on
Nice idea. Hope it will work for me. I would like to ask that, will it work for demo account as well? As I do not want to take any risk and make it more complicated at the beginning of Forex trading.