Mistake or right start - news trading for newbies

[Andy4rum]

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.

 

[Andy4rum]

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)

 

[Farm Yard Forex]

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.

 

[Andy4rum]

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

 

[Andy4rum]

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.

 

[momo3HC]

Newbies to scalp or news trading? This only can bankrupt them.

 

[RachelFX]

Thinking back to when I started trading both these styles would terrify me!

 

[peto]

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.

 

[Jungletrader]

It's good to be aware of such events but as for trading those events I'd stay clear .
Demo any potential strategy you have before going down such a road

 

[Andy4rum]

Great to share opinions on that case. Most of the time - all newcommers wanna get fast profit. News & scalping are both ways to do that and sure, fast profit is high risks for sure.

As for me, love news trading - but suddenly, there is no such moves as I saw in 2012-2015 years for example. Now even huge news make pretty small affect most of the time, it's enough to reach stop order + BE most of the time.

Scalping is good, M5 and even M15 with the right tool could be fun. But still do that with small account.

As for clear AUTO - not sure, yet... I'm using Samurai robot now on eurusd, h1 with micro lot. Any clear auto
tool should be under control.

 

[Andy4rum]

First of all, a newbie must know that news trading does not demand sitting in front of your system or television for the whole day to watch the news. You need to chalk out those upcoming news events that can have a deep impact on the world of finance. I believe it is risky for a newcomer to judge and analyze those events and predict a price action accordingly. However, you can try and test your analyses on your demo account first.

Totally!

Demo is the best way to try. Or cent account - feel the taste of real money is great way too.

 

[sharabela]

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.

I stay away from news trading. I try to find trading opportunity after the news. Usually the market gets too volatile during the big news events. The trading chart ends up producing big spikes, which makes trading difficult most of the time.

 

[HeavLeighGill]

I see the point here but news trading is a bit difficult for me and made me lose some in the beginning. I think beginners should consider the pros and cons of both and practice before deciding, but either way predicting the news isn't always easy.

 

[ceydababy]

Where is your edge trading the news ?

 

[Andy4rum]

Risk management is very important. It gives you all the necessary tools to handle situations and prevent problems before they happen.

Yes, all trading (especially NEWS or with leverage) should be with the risk management. SL is the simple way to make it risk free. Of course, losses happends - but SL is the way to get no more than you expect to loss.

By the way, I like the full options board behind the mentioned NEWS EXPERT ADVISOR - you set SL/TP and other things
in the panel. As soon as trade happends, EA fill it all by itself in a second... This is important.

 

[Kjell]

Hei

Is this EA still working? Where is the best place to watch the news?

Do I understand correctly that this strategy can be used to break out important levels?

Does anyone have experience using their forex samurai robot? I downloaded it and using
for 2 days by now

thank u

 

[Smith2525]

News trading is not for newbies IMO

 

[Flink]

I have never tried news trading, so I’d definitely check out the tools you’ve attached. I think new trading is one of the easiest ways to predict the price movements of a certain currency pair.

 

[taylorarnold]

Generally, news trading for beginners can be tough because it’s hard to predict how the market will react to a certain news but if you are able to trade on news, it can open a lot of potential opportunities for you.

 

[Kjell]

Hey

Yes, agreed

It's better to try (demo is harmless). News - it can be dangerous, but scalping... and in general, forex is a complete risk.

I tried the news trading tool (which is at the beginning of the thread) - I liked it. In principle, it can be used for a breakout, as a potentially trending strategy (just set a long time for the breakout lines and they are not deleted).

I mean, in addition to trading on the news, you can also use this EA as an adviser for a trend breakout.