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Daily Forex Market News
Daily Forex Market News
Daily Forex Market News
Daily Forex Market News
Daily Forex Market News
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Daily Forex Market News

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Daily Forex Market News - Do You Need It?

Daily Forex Market News - Do You Need It?

Published in: Economy & Finance, Business
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  • I was sent to Market News on the subject of: market news by a friend who told me last Wednesday you contradicted yourself so often it was hilarious but honestly, I can't see it. Can anyone else?
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    Are you sure you want to  Yes  No
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  • 1. Daily Forex Market News Do you really need daily news?
  • 2. Who Are News Traders?
    • News traders are people who trade exclusively on economic news announcements. Their aim is to make the most profit in the shortest time possible. It’s not unusual to have a market movement of a hundred pips of more, just 5 minutes after the news is announced.
    • News trading is a highly risky style of Forex trading, and is generally not recommended for novice traders.
    • Amateurs who think news trading is a way to make easy money are often taught an expensive lesson by the market.
  • 3. What If I Don’t Want To Trade The News?
    • For those who do not wish to trade the news, they often wonder if they should pay attention to the daily market news at all.
    • In my humble opinion, the answer is generally ‘no’.
    • The fundamental daily news is usually slowly incorporated into the market price, so a competent technical trader will already be able to take into account any unusual changes in price action.
  • 4. However!
    • There are of course exceptions to this rule of thumb.
    • While you probably don’t need to pay a lot of attention to the every-day news announcements, there are some economic news data release dates that you should avoid trading in.
    • These are the same economic news announcements that the news traders trade on. Some examples include the non-farm payroll , ISM manufacturing and FOMC meeting announcements .
    • The high price volatility experienced during these periods are best avoided by most traders… it’s better to keep your capital protected than to risk it on highly risky trades.
  • 5. Learning More…
    • Click Here to get your free 26-page Forex trading guide
    • ‘ Forex Trading Traps’

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