Should I depend on market news?

Question

Ryan · Accepted Answer

The forex market is a global market, so every significant economic or political event worldwide will affect it. To make sound trading decisions, a forex trader must be aware of numerous news events. Every time there is a big news release or financial statement, the market becomes much more volatile.All traders should understand the fundamentals. Markets are heavily influenced by news, making trading extremely unpredictable. It is possible for a trader to fail even with the strongest trading strategy if he or she is unaware of recent news. Economic reports are also important to be aware of.

Anthony · Answer

You should read Forex news daily, but remember that the news itself holds little significance. The trader's analysis of the same is also valuable. The related news may be used by traders to make modifying deductions. Due to the fact that forex news analysis is not objective, you should take a summary of the news and make your own deductions. Forex news can help you trade like an expert. Simply review the news from highly recommended websites like Bloomberg, Forexlive, and Fx Leaders and assess how it affects currency prices. When bullish news fails to increase prices or bearish news fails to decrease prices, keep an eye out for possible trend changes.

Derrick · Answer

It is generally not a good idea to rely solely on market news to make trading decisions in the foreign exchange (forex) market. This is because market news can be unpredictable and subject to change, and can also be influenced by various factors such as political events and market speculation. Instead, it is generally more effective to use a combination of technical and fundamental analysis to make informed trading decisions. Technical analysis involves using past price and volume data to identify trends and make predictions about future price movements, while fundamental analysis involves analyzing economic and financial factors that can affect the value of a currency. It is important to carefully consider all of these factors and to develop a well-rounded trading strategy that takes them into account.

Should I depend on market news?

6 Answer

6 Answer

Should I depend on market news?

6 Answer

6 Answer

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