In my previous post, we identified the Forex news reports that are trade worthy. Knowing what the tradable news items are is one thing, but knowing how to trade these news releases is another.
With this at the back of our minds, I would like to share with you two highly profitable Forex news strategies that I have used with great success over several years. Both are highly profitable and can be mastered in a short time.VN:F [1.9.22_1171]
Every month, there is a calendar of the release of certain important socio-economic and political news items that tell a story of the state of the economy of the nation where that release emanates from. These Forex news releases usually provide the benchmark for market sentiment, which ultimately determines the direction of the currency pairs.
Trading news releases provides great opportunities because of its ability to increase volatility in the short term.VN:F [1.9.22_1171]
Yes, it is! Don’t get me wrong. I am really totally serous about this. I’ve been trading currencies since the first cars were invented (and I am still in shape) I know what I’m talking about. Let me show you how I trade Forex news.
5 minutes before the news release I prepare some nice cup of coffee and make sure everything is on its place.
3 minutes before the news release, I do some final checks on the Forex news calendar, noting the previous numbers, the forecast and my trigger numbers.VN:F [1.9.22_1171]
The craze for Forex trading in many parts of the world is beyond imagination. As people look for alternative ways to make money in the face of dwindling incomes and disappearing jobs, more people are discovering online Forex trading as a potential way of making “easy” money. In some countries, you can hardly walk into three streets without seeing some form of Forex-related advert. This situation is not helped by the glittering adverts you see on some websites and financial TV stations, where Forex is depicted as next to picking dollars from the street.VN:F [1.9.22_1171]