Victorial
Active member
Trading is a lucrative way of making money online and it is also one of the fastest ways to lose your money. Traders do use two methods to take and hold a position while trading forex (foreign currency pairs). The first method is the news forecast (fundamental analysis) that comes in every day while some analysis may be weekly as they will tell traders what to expect for a particular currency throughout the week.
The analysis can be very useful since you will have a head start and know when how the market structure of a currency will be. For example, it was analyzed some weeks ago that GOLD, a metal will fall in the market price and it did fall massively. The metal and most preferred method of savings other than crypto is trading below 1800 after witnessing a surge a few months ago. Trading against the news could be detrimental.
While the second one is self-dependent which involves the use of indicators that are available to trade forex in determining the entry and exit point. However, when a trader combines both methods of trading, it has a higher chance of yielding results.
Have you ever traded against the news and how did it turn out?
The analysis can be very useful since you will have a head start and know when how the market structure of a currency will be. For example, it was analyzed some weeks ago that GOLD, a metal will fall in the market price and it did fall massively. The metal and most preferred method of savings other than crypto is trading below 1800 after witnessing a surge a few months ago. Trading against the news could be detrimental.
While the second one is self-dependent which involves the use of indicators that are available to trade forex in determining the entry and exit point. However, when a trader combines both methods of trading, it has a higher chance of yielding results.
Have you ever traded against the news and how did it turn out?
Last edited: