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2015-10-24 20:46:47 ใน NEWS » 0 453

Technique of forex trading: How to trade by 'news following' – 2015




There are many strategies in forex trading; one of the strategies is trading by following the news. By doing this it will help you to make a high profit. If you decide to trade by news following, Youshould try to apply these following strategies. Let’s us examine step by step.

 

1.Source of news selection


You need to subscribe some news source in order to keep update your information. You need to select which news database you want to follow and if you do not know, I will suggest you one. I suggest you to look at ‘forexfectory.com’. This source is trustable and the most important about this source is it is able to do an accurate graph analysis.

 

2. Open order by following the trend

 
To open order, you should analyze that what others will do. For example, if the trend is to buy, you should buy and if the trend is to sell, you should sell. Do not do what is opposite the trend.


 

3. Close the order as soon as possible


When we get order by following the trend, it would be better to close the order as fast as you can. By doing this, you are able to get a short gain profit. Do not wait too long because the graph may reverse back. Consequently, you will lose your opportunity to make profit or the worst case is to liquidate your port. Personally, I think 3-5% of your port value is fine.

 

4. Do not multiply too many lots


Multiply lot will cause problems when you open large amount of money. The important thing is the higher number of lot you have opened, the bigger impact you will get. The impact will be not only for gain side but also for lose side. Hence do not let this multiple lots trading happen.

 

5. Keep update news


​Finally, what you should do is to keep update daily news and analyze what affect your forex trading.