In FOREX trading, which pair should i choose on Forex News release ?

Friday, May 16, 2014 , Posted by Ryanita at 10:57 PM




Vian'z


Dear Professional Forex Traders that roaming in yahoo answers :D,

I want to trade forex using fundamental analysis, which depends on High Impact Forex News (HIFN). Now, which pair should i chose on that HIFN ? buy or sell ? in which pair ?

ex : 1. There is a news that telling that USD is getting stronger. I know that stronger USD in forex news making the EUR/USD graph/candlestick get even lower, then what pair should i choose to open position sell ? is it EUR/USD ? AUD/USD ? GBP/USD ? or NZD/USD ?
then when the USD is getting stronger, i also can trade buy in USD/JPY, USD/CHF, and USD/CAD to get profit right ? :)

The question is which pair should i choose during that forex news, and which opportunity should i take ? sell or buy ? or i should open position (buy and sell) in all possible pair and opportunity like i mentioned before ?

or you can advice me for some (free) e-book about this thing ? or site ? or everything :)

Thanks before :D



Answer
You're not going to like this answer but here it is anyway. Fundamental trading in currencies is not a straightforward idea. There are a few questions to demonstrate what I mean - how do you define your risk? Do you just buy and hold and hope for the best? Are you aware of the high spread charges that occur during news releases? Do you know that banks like to sucker people into a move before shoving it the other direction so they can fill their orders? Or that the market doesn't always move in a "rational" manner on news? (i.e, drops like a rock on good news, why?)

I do make money consistently from the market with limited, responsible risk. In fact, as of right now, I have a handsome profit from today's FOMC move, but I used the charts to get me in at a good, limited risk place and not a reliance on getting the first bits of news and trying to beat the people with instant news feeds. You can dabble in this if you like but eventually you'll understand what I'm talking about. Feel free to drop by our small community if you want to learn more about trading, we'll be more than happy to help. :)

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MD terp


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Answer
Not Yahoo Answers. There are so many forex spammers here that users would just assume that your product is more of the same debris.




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