Trading Major News Events
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Every month there are upwards of 500 Economic news releases coming out of a variety of countries. However only a select few are worth watching and trading, because only a select few move the forex market with any consistency. In addition to that knowing how to interpret the numbers is a skill that on your own takes years to master. Through years of watching other pro forex traders, and developing my own forex trading strategies, I now watch and trade the major news events in a live forex trading room where I call live trades.
Trading major economic news events in the forex market can be one of the most profitable forms of day trading. In addition to that, it only takes a very small amount of time. The price can move over 100 pips in seconds! Many forex traders simply stay away from the economic news releases because of this increase in volatility, and without a forex education in trading major news releases I would recommend doing the same! But, with the proper day trading education, trading the news can be very profitable. In addition to that you gain a more indepth understanding of each countries current economic condition.
Well how does it work you might ask? For every economic news release, also known as an economic indicator there is an expectation or prediction of the number. When the actual number deviates or is different from expectations the price moves rapidly to adjust for this surprise. Huge surprises in the actual number can even start trends that run for days or longer. Now each indicator has its own level of importance and with a countries current economic state this level of importance can change and this is something I discuss in the live trading room as well.
How are trades called in the live trading room? First and foremost the trading room is an educational room when my knowledge of trading these economic releases is pasted on to you as best as I know how. The best way for me to show the education in action, is to call my live trades so you can see the effectiveness and profitability of trading the news. So after the number is released and the price spikes, provided there was an adequate deviation from the expected number we will look to enter a trade. If the certain criteria I have laid out presents itself I will then say where I’m entering the market and the direction. In addition to the entry I also relay my take profit and stop loss.
If you are looking for another avenue of day trading the forex market or simply just getting into this market, news trading in our live forex day trading room is a great place to learn. In addition to that I also run day trading sessions from 8:00-10:30 AM EST where I also teach my day trading strategies and call out my exact entries and exits in the live market. If you are interested in trading the news or trading short term strategies in general come take the free 14 day trial to our live forex room and join me!
Hi,
First off I love the name, it gave me a good laugh!
On to the comment…thank you for it first of all! And I’m glad you found it helpful. I hope it can be of use to your trading. There are many more forex trading strategies on the site that we use in the live trading room. Feel free to give those a look and shoot us an email with any questions!
-Sterling
Hey Jocuri,
I really appreciate the kind words. I hope the info you read is useful to you. Make sure you check out the recent trades section of the site. It shows how we apply the strategies to live market in our live forex trading room. Happy trading!