Trading the Forex market with the news

There are many people who are spending their day in the newspapers reading what has happened in the country. If you want to make a profit in this industry, you need to know the news. There are some ways that you can use to trade the market with the news. You need to be smarter than working for long hours and this article will give you the tips how you can divide all the news into two parts. Most of the news that you read will fall under these two parts and you can decide when to place the trade and when to stay away from the market. There are two major types of news -

The recurring news: These two types of news are the recurring news and the one-time news. You may have guesses form their name what recurring news. The recurring news is the news that happens almost every year at the same period at the same time. This news is planned in advance and published on a regular basis. Examples of these type of news are Automobile companies publishing their monthly reports of car sales to attract the buyers or the reports of jobless every week.

The one-time news: The second type of news which is the most important news because it does not have any schedule is the one-time news. This news came out of nowhere like a big country leader dies or a country is having terrorist attacks on their capitals. This news has more impact on the market and you can make a good money if you can place the trade at the right moment.

So why do you need to understand the market news even though you have extensive experience in the technical analysis? Technical analysis will only help you to find the potential entry point of the market but when it comes to riding the market trend you have to understand the fundamental factors of the market. For instance, those who have proper knowledge of the fundamental factors were able to save their investment during the Brexit event. On the other hand, the many novice traders in the United Kingdom have lost their entire investment on that event. This scenario clearly demonstrates the importance of market news for the retail traders. Those who are new to this industry should never place any trade in their online trading account prior to high impact news. They should wait on the sideline and understand how the market behaves on different news factors. If required, start using the demo account and see how you can predict the price movement based on the fundamental factors. Once you gain enough confidence start trading the live assets with real money.

Trading with the recurring and one-time news

Now you have known these two types of news, you will find that all the news that you read on the paper could be fallen under these two types. Trading with the recurring is easier as traders know when it will come and how it will change the market. If you are new, there are some tips for trading. Keep a calendar for the news. This calendar will tell you when the reports or analyses will be published that can volatile the market. Develop your strategy to plan the trades in this recurring news. Always use strategy when you are trading with the recurring news.

If you want to trade with the one-time news, the best way to trade is to react as soon as you can. These events can be over and the market can be stable. You only have some moments in your hands and you need to do what you need to do at this time. Do not get carried away with your emotions. Never trade the market in the one-time news with your mind but always with your brain. Emotions never work in any market trading in this industry.

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