Forex news calendar ”High impact” events: what’s actually news and what’s just noise?
I’m having a hard time figuring out what news events I should be avoiding, and what news I should be holding my trades through. There’s some “High impact” events on forex news calendars (like German IFO business climate) that did almost nothing to The Euro, as compared to other “high impact” news events, like Jerome Powell speaking last week that made huge moves in the US dollar. Generally speaking, are there specific news events that you pay really close attention to vs others that you’d consider just noise? Any advice would be greatly appreciated!
https://www.youtube.com/watch?v=1hgJiLr7uZ0 In this Nadex 2 hour trade I am doing a news trade riding momentum for a little twist on how I usually do these trades. I lost Audio on the entry of the trade but I salvaged the last few minutes of this live trade and I am going to talk in detail about how I planed this trade at the beginning. I am trying to help fellow traders know how to avoid and how to use news on your side when trading forex pairs on the Nadex platform. Key Points: A: I rarely trade around news but when I do then I like to look for strong trends on the longer term price action charts. If there is really a trend you will see it. If you do not see it yet then wait and do not force the trade. We had been having nice down days all week. This may mean some of the report was priced in but when momentum keeps flowing in the same direction after the report then you are not just trading a news pop alone. Instead you are following an established weekly trend with news on your side as well. B: Wait for the news to get out of your way before entering.I had to wait for the high impact news to see how the market would react. Check on our site: http://www.binaryoptionstutor.com/view_forex_news_calendar.php set it for your timezone and make sure you are not going to trade around news unless this is your intent to do so. C: Understand the news: When you get in a trade and it goes against you. It helps to understand all the reasons that you got in. That is why I talk a little about correlations and fundamentals in this video. 98% or more of traders just ignore fundamentals and correlations. I explain the Base and quote of a currency pair and how the news will effect money flow out of Europe and into the USA on a day that the news plays out with bullish sentiment. This will make USA markets strong and banks moving money for large clients will sell Euro Dollar bringing that base side down. Banks and forex flows are at the top of the food chain and can help your trade even if it is a short term trade. D: I was trading the momentum and had to wait at least half way into the hour to get the news so this means I was only in for like 20 minutes or so. When I am trading momentum I want to get in closer to expire time and just ride that last bit out, I want to see the behavior and be sure it will hold for the remainder as best that I can do so. E: Pricing: Notice that on this bet in a live account I was only able to get in at $21.25 / contract and I really like shooting for $20 - $25 bets in a live account because I would sooner wait for confirmations of what I am trading around than to try and get those extra $5 - $10. Please watch the video carefully and feel free to write if I covered something in the fundamentals of the news or price action that was not so clear to you.
Hello, looking for alternate forex news calenders that show past price reactions.
I'm currently using and only familiar with http://www.forexpeacearmy.com/forex_news_calenda However the website isn't reliable sometimes the lookback function is down, like right now. The site is great as it allows you to track the reaction news had on the graphs by event, for example BOC rate, click the event, look for the date you want to look at and it will show you what happened on price graphs at that time. Any similar alternatives?
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This weird trick can transform your trading during news ...
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