Mistake or right start - news trading for newbies

Andy4rum

Member
63 29
Hi all,

It's been a while since I write here something. Most of new traders want to make profit fast.
There are 2 possible ways to make it - scalping and news trading.

As for scalping - I suppose, it's too risky and still very good for brokers to cur commission on
each trade while you get Pips by Pips.

News trading - is much better IMHO. No need to sit all day long next to computer, just make
some notes regarding upcoming news and spend 5 mins.

I suppose, both ways are quite risky for newcommers, but we all need to make own mistakes.
That's make sense, otherwise, you won't believe that :)

If you wish to try news trading, here is good tool attached. You can play with it on demo, but
just to relise how it can be. News sources - there are many of them. I can share if needed.

news_ea_1pic.png


 

Attachments

  • NEWS_EXPERT_ADVISOR.pdf
    442.2 KB · Views: 16
  • NEWS_Expert_Advisor_v1.ex4
    74.2 KB · Views: 17
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Andy4rum

Member
63 29
I think news can be quite hard as sometimes it’s all ready factored in

agree. Also, missed that time when price changes 100+ Pips on big news... nowadays EURUSD is quite slow, I'd prefer
GBPUSD, GBPJPY and other with GBP pairs - otherwise too slow :) Gold is new passion, slowed down a bit and more
predictable now (IMHO)
 

sebking1986

Active member
190 65
I day trade and don't spend all day looking at the charts. I set alerts and have specific times of the day I want to enter trades. Trading news is not something I do. News is a useful driver but often it is used to swipe stops before the big boys send price the direction they want.
 
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Andy4rum

Member
63 29
I day trade and don't spend all day looking at the charts. I set alerts and have specific times of the day I want to enter trades. Trading news is not something I do. News is a useful driver but often it is used to swipe stops before the big boys send price the direction they want.

sounds good, how many pairs & trade per day do you do normally? Daily TF is quite slow, but with good number of pairs - could be better
 

tomsmiths

Junior member
28 7
@dutchy1986 Trading news can be difficult because of the volatility but we can’t deny that the currency market is driven by the short-term movements brought by the release of economic news. Traders can really reap the rewards if they learn how to trade on the market moving data.
 
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Andy4rum

Member
63 29
glad to read your thoughts on it. Thx.

I find it pretty interesting, still... we can't predict it exactly, but actually, news is the way to push price in any direction.
This type of EA works as break out idea, we don't try to catch news affect by waiting and analyze the news data. We
just take a trend by using that strategy. I think, by considring it in that way it won't be that risky or annoying.
 
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RachelFX

Active member
100 27
Thinking back to when I started trading both these styles would terrify me!
 
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hedleyhowarth

Junior member
34 6
I don’t think that you need to consider news when you are scalping. A little knowledge of the latest news won’t hurt much but instead of shifting the whole of your focus to news, you must consider the market fluctuations because that’s what will get you profits.
 
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rochellcurtin

Junior member
20 3
The biggest problem with news releases is that spreads get wider especially on minor pairs. So traders end up trading major pairs. To get the most out of their news trading strategy, a trader should be prepared beforehand with a strong trading plan.
 
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pipfighter

Junior member
33 6
The biggest problem with news releases is that spreads get wider especially on minor pairs. So traders end up trading major pairs. To get the most out of their news trading strategy, a trader should be prepared beforehand with a strong trading plan.
This is one of the common issues that anybody, especially newbie can easily fall into.
 
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cfdpiee

Junior member
28 4
There is no need to follow the news when you are scalping, but if you are trading for a larger time frame, then it is necessary. But if you are day-trading or swing trading in the news direction you should keep a close watch on how it will impact your trade.
 

peto

Established member
969 110
There is no need to follow the news when you are scalping,
Um you might want to check an economic calendar before scalping, to avoid trading over news announcements, a random 100pt jump could change your plans somewhat.

As for trading news, you would be competing with institutions who have fast direct connections into exchanges and bots which will buy /sell on news within microseconds. As a retail trader the news is already priced in before you have pressed a button.
 
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