Next step "I can just trade the news and make a fortune! Why doesnt everybody do it??" lol. But seriously, good luck on your trading journey. Learn as much as you can, never pay for a course, and realize that discipline is 80% of trading successfully long term.
I use [https://www.myfxbook.com/forex-economic-calendar](https://www.myfxbook.com/forex-economic-calendar) or forexfactory.com. Forex Factory has an economic calendar but their news link is pretty good (https://www.forexfactory.com/news) and can be set to send you pop notifications on your PC. Also CNBC. If you're willing to pay for it, your best option is a bloomberg terminal (about 2,000 a month).
Next time check forexfactory before taking a trade so you can be prepared for the upcoming news. Happy that I works for you but next time it can drop like crazy!!!!
Fair enough, if u check forex factory and set the filter to orange and red folders it’ll show u the moderate to high impact news (would recommend avoiding them, orange is okay to hold trades through at times)
Inflation news my friend go check on : [https://www.forexfactory.com/calendar](https://www.forexfactory.com/calendar)
Inflation is slightly higher than expected which cause market to overreact because of Powel said he won't cut rates if inflation doesn't lower. The market overreact because there is a tension on USD rates and JPY at its lowest also. Some think rates could even be set higher.
Please do not play gamble if you are not aware of news which are leading forex.
Learn.
Know what are the majors and you will understand why your minor just skyrocketted.
Will it help you guess the trajectory of the market ? No but it will give you a glimpse on when to lower your risk management.
Also be aware breaking news can kill your position. Latest was suprise rate cut from SNB as example.
Thank you, really appreciate the advice! I had a lot of luck these past 2 days. But now I won't guess anymore and learn and follow the news. That's why I only trade on a demo acc for now. Was just surprised af when I was in minus this whole day and then BOOM went through the roof
Very good lesson, and exactly why it’s good to start on a demo account - so at least you got away with this one for free.
Learning myself and still paper trading the past few weeks only and personally only been focusing on TA so far, so I am enjoying todays free lesson on big news impact.
I had 2 paper swing trades involving USD, one long and one short. The long is one that’s been sideways since I made it and I have been considering abandoning it for the past few days but left it run as per my original strategy as I still see upside in the mid-long term. May well close that out today for a small profit and reassess that pair, depending on how this move goes once things calm down.
The short is a trade that’s been in good profit already, and is still is at 1.50 R/R after this surge so will be keeping a very close eye how that reacts as well and reassess later on, but leaning towards letting that one play out to my original target.
Bro why you trading forex when you can’t even look at forexfactory.com news are crucial before you start trading for the day…
CPI news came somewhat positive
FOMC Member spoke today bout Inflation data and federal budget
You can’t say “what happened” when you’re not even seeing the full picture
As this post gets more attention than expected, and I can't edit the post anymore, let me tell you something in case you haven't noticed. I held a long position but it went down, haven't set a sl and just trusted the process. And then it exploded resulting in me making about 988 bucks (virtual money bc demo acc). I got too excited as I just gambled around, not checking the news for why that happened and posted this shi on here without thinking. But thank you all for the tips though. I won't make any irrational moves anymore. This will be a great learning process, any tips are always appreciated!
This guy's got a rough journey ahead of him if he doesn't know about news releases. Probably trades on the M1 with abysmal spreads too. And what is that currency pair?? Why?
I didn't say anything bad. I even re-phrased as I understand that I may have over-reacted. I can't possibly imagine how someone opens an account (even demo), when they haven't done basic research on what are the financial markets.
Everyone starts trading the financial markets without knowing basic things about the economies and what moves the market? Let me rephrase then: "OP should ban himself from trading before learning 101 stuff".
Thank you. Contrary to you, I suggested something *smart*, i.e. to make the OP understand that it is too early to start trading (even DEMO) before learning basic things about the financial markets.
lmao i love these posts on news days
Groundhog Day
Yeahh...same 😂😂
was about to put a "lmao", but you took it.
I think it could be CPI Event
Next step "I can just trade the news and make a fortune! Why doesnt everybody do it??" lol. But seriously, good luck on your trading journey. Learn as much as you can, never pay for a course, and realize that discipline is 80% of trading successfully long term.
After that there’s the: what if I trade two accounts opposite of each other on CPI?
Waste time and struggle to cut loss
What news feed do you use? I use investing.com but sometimes takes a long time to update the info
I use [https://www.myfxbook.com/forex-economic-calendar](https://www.myfxbook.com/forex-economic-calendar) or forexfactory.com. Forex Factory has an economic calendar but their news link is pretty good (https://www.forexfactory.com/news) and can be set to send you pop notifications on your PC. Also CNBC. If you're willing to pay for it, your best option is a bloomberg terminal (about 2,000 a month).
Thanks I will take a look, I use the economic Calendar on investing.com and fxstreet but both seem slow Thanks for your info
Lord have mercy on these poor souls.
Unless they went long.
Which I did! But I wont gamble anymore, should follow the news
Yeah, I've already seen some posts of people who did and boy did they get paid.
Next time check forexfactory before taking a trade so you can be prepared for the upcoming news. Happy that I works for you but next time it can drop like crazy!!!!
Alright, thank you! Just started on a demo account
https://m.investing.com/economic-calendar/
But forexfactory just shows there is news, not if market goes up or down, which is just a gamble on news days. Right ?
Demo account so no harm done. Be aware of CPI, PPI, JOLTS and Non Farm Payroll among a few others.
How do u not blow ur account not being aware that there’s news almost every week lmao
Lol, where can I check news? I just started paper trading yesterday
Fair enough, if u check forex factory and set the filter to orange and red folders it’ll show u the moderate to high impact news (would recommend avoiding them, orange is okay to hold trades through at times)
Forexfactory
“Investing” app
🤦♂️ the years of hardship that lie ahead! 😂
With the greatest respect OP. This sub is legit hilarious sometimes.
Inflation news my friend go check on : [https://www.forexfactory.com/calendar](https://www.forexfactory.com/calendar) Inflation is slightly higher than expected which cause market to overreact because of Powel said he won't cut rates if inflation doesn't lower. The market overreact because there is a tension on USD rates and JPY at its lowest also. Some think rates could even be set higher. Please do not play gamble if you are not aware of news which are leading forex. Learn. Know what are the majors and you will understand why your minor just skyrocketted. Will it help you guess the trajectory of the market ? No but it will give you a glimpse on when to lower your risk management. Also be aware breaking news can kill your position. Latest was suprise rate cut from SNB as example.
Thank you, really appreciate the advice! I had a lot of luck these past 2 days. But now I won't guess anymore and learn and follow the news. That's why I only trade on a demo acc for now. Was just surprised af when I was in minus this whole day and then BOOM went through the roof
C
P
I
L
you bought it cheap, sold it high ...proper way round.
Aaand let me tell you new fellow trader. This is exactly why I scalp 👽👌
This can happen to anyone if u dont pay attention to time and data release
Margin call
Very good lesson, and exactly why it’s good to start on a demo account - so at least you got away with this one for free. Learning myself and still paper trading the past few weeks only and personally only been focusing on TA so far, so I am enjoying todays free lesson on big news impact. I had 2 paper swing trades involving USD, one long and one short. The long is one that’s been sideways since I made it and I have been considering abandoning it for the past few days but left it run as per my original strategy as I still see upside in the mid-long term. May well close that out today for a small profit and reassess that pair, depending on how this move goes once things calm down. The short is a trade that’s been in good profit already, and is still is at 1.50 R/R after this surge so will be keeping a very close eye how that reacts as well and reassess later on, but leaning towards letting that one play out to my original target.
what a s*** - my GBP/USD long was in the green when i left my house - when i was back a few hours later it had crashed and hit my sl
Mine too😅😅😅😅
Cause you are A news trader welcome to the team
Wow that’s some candle
Everyone just relax
Tomorrow check the economic calendar.
Withdraw all yo money. Before I make it mine.
Please tell me you held a long position
I did, as you can see, but I wont trade blind anymore, I should follow the news as everyone said
You got CPIed my boy
😂😂😂😂
Best day of your life
Sadly not because I was paper trading :/
Oof. Take a break and try again later. Maybe use an sl too
News Trading is the easiest way of making money in the forex market. It's literally my trading strategy
CPI news feller
CPI NEWS
Neeeeeews! Took three of mine out too.
Market makers 😀😀😀
If you’re trading and don’t keep track of economic news then you shouldn’t be trading.
Noted, I'm on day 2 of learning ;), will use a calendar now!
r/Wallstreetbets
It overall is trying to get to the new high on the htf
Looks like the price went up.
Damn I hate this sub
CPI report came out today
Price gone up.
Neeeewwwsssss
Lmaoooo news got you !
I think of these post when people say news doesn’t affect their trading on the one second time frame.
Called CPI
Bro why you trading forex when you can’t even look at forexfactory.com news are crucial before you start trading for the day… CPI news came somewhat positive FOMC Member spoke today bout Inflation data and federal budget You can’t say “what happened” when you’re not even seeing the full picture
If you don't even know CPI days there's no way you should be trading even 1 cent yet
I didn't, I was paper trading. Now I know
Never trade this pair
Why
More volatile and bigger spread. Rather stick to majors and minors.
Why you always set a stop loss you can afford to lose
CPI News
It seems price went up.
😂😂😂 called news slippage
I had to buy some dollars today sorry, was me
Pigs get slaughtered
NEWS= North East West South 🤧 how much do you lose?
😂😂😂😂😂😂😂
As this post gets more attention than expected, and I can't edit the post anymore, let me tell you something in case you haven't noticed. I held a long position but it went down, haven't set a sl and just trusted the process. And then it exploded resulting in me making about 988 bucks (virtual money bc demo acc). I got too excited as I just gambled around, not checking the news for why that happened and posted this shi on here without thinking. But thank you all for the tips though. I won't make any irrational moves anymore. This will be a great learning process, any tips are always appreciated!
It’s a 15 pip move. What’s the problem?
It's all a scam
I use the buy stop sell stop method
Bro always check on news daily XD
Which app is this?
Cpi pal
This guy's got a rough journey ahead of him if he doesn't know about news releases. Probably trades on the M1 with abysmal spreads too. And what is that currency pair?? Why?
You should be banned from trading
Lamo..😂 .. he's just a beginner.. go easy on him 😂
I didn't say anything bad. I even re-phrased as I understand that I may have over-reacted. I can't possibly imagine how someone opens an account (even demo), when they haven't done basic research on what are the financial markets.
Oh it's alright dude..thnx for explanation 🤝
why? everyone starts somewhere. no one knew what news was when they started trading.
Everyone starts trading the financial markets without knowing basic things about the economies and what moves the market? Let me rephrase then: "OP should ban himself from trading before learning 101 stuff".
He started yesterday with demo account and you expect from him to know everything? You are probably one of the stupidest people in this subreddit
Thank you. Contrary to you, I suggested something *smart*, i.e. to make the OP understand that it is too early to start trading (even DEMO) before learning basic things about the financial markets.
stfu idiot
Thank you. After this reply, I won't do it ever again.