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9/9/22- Imagine that you are in your favorite car, and by accident, your car is hanging on a ledge while you are inside. You do not have an indefinitely longer period to think about what to do next because the car can fall at any moment.
You have two wide options in your hand only.
To jump off the car and save your own life.
And, To get off the car carefully by taking time and saving the car from falling.
What are you thinking?
Well, you can choose any option, which is entirely up to you, but making a quick decision is the MAIN THING!
But how does it relate to Forex Trading? Or, to be more specific, in Forex News Trading Strategy.
It does, and it vigorously does!
If you go through the Article, you will clearly understand how and why it relates to currency trading and News Trading.
News Strategy in the Forex market is a strategy that includes trading depending on the market state and right after or before a news release. Following the news trading may require you to decide depending on the state.
Trading the currencies have some outstanding precedence, and it is because the Forex market remains open for 24/5.
Yes, 24 hours a day and five days a week while pushing the economic growth.
And as the market changes its shape because of the news or events, the economic report is undoubtedly the most crucial stimulant for short-term movements.
Indeed, the US Dollar is mostly the one side of other major currencies, which is why keeping an eye on US economic releases is important for forex news trading strategies.
An OCO is a couple of orders that are connected together. Whenever market variation takes place, either order to be filled, the unfilled order is naturally dropped. This order management guarantees just one of the orders is implemented.
A straddle trade includes making the two sides of the price move on a short-term basis. When we anticipate a significant price movement yet don't know in which direction, we place BUY STOP/SELL STOP orders around the current level, wanting to get the movement through one of our two unconcluded orders. These are the pillars of the strategy.
How about we dissect the EUR/USD graph above, and we should accept that the market anticipated a few terrible figures for the Euro money.
The market exchanged endlessly lower during the day, and when the real news was published, the price headed down the other path - above- despite the unwanted or bad news published for the Euro cash.
These sorts of movements occur regularly. That is because the market brought together the news before their declaration.
This is why it's so important to investigate whether the market comprised the normal figures for its price before thinking about trading the news.
A straddle trade includes making the two sides of the price move on a short-term basis. Essentially, when we anticipate a significant price movement yet don't know in which direction it will occur, we place BUY STOP/SELL STOP orders around the current level, wanting to get the movement through one of our two unconcluded orders. These are the pillars of forex news trading strategy.
The world currency market is mostly dependent on short-term movements followed by any publication of economic news.
If you really want to trade successfully and want to take a position in the market then you have to ensure some points.
Such as realizing when reports are normal, understanding which publishes are most significant given current economic circumstances, and knowing how to trade in light of this market-moving information.
And I would like to give you some free advice.
“RESEARCH” and “STAY UP-TO-DATE” are the two key things of news trading strategy and the ultimate hack to put a score in the Forex Market.
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