HOW TO PROFITABLY TRADE THE NEWS CONSISTENTLY ~ forex cobra trading system
Anyone thats ever traded the forex is aware of the impact news might have on the marketplace. In only a few seconds, the markets can move hundreds of pips can move. In case your money is in the right path, this can bring about bringing in 50%, 25%, 10%, or more. But if youre trading against the marketplace, youll be able to have your account wiped out right away.
Here is some basic tips that may assist you to understand the forex news only a little better.
Every country has certain economic reports that will significantly impact their currency. This is a listing of 3 of the most powerful economic releases in the United States:
1. Employment growth
2. Interest rates 3. Trade balance
Every country has a listing of the economic reports. They can be scheduled weeks and even months beforehand, so you can be completely ready to trade each of the reports.
For all the releases that are economic, before they are released, economists try to predict the results of these reports. When the results are drastically different from the predictions, the greatest movements in the forex will occur. Thankfully, the predictions by these economists may also be open to all.
Occasionally the marketplace can offer you a hint to the way in which the news will turn out. If the market is really quiet (i.e. the price doesnt move much) hours and minutes leading up to the economical release, then you can be rather certain that the resultant move will be fairly dramatic.
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