the markets reversal after some initial swing. A variety of exotic options are available for traders who want to capture a breakout in volatility without having to face the risk of a reversal. If you dont have a solid trading plan for a particular event, its better not to engage in any trades at all. As a result, it tends to be readily available to just about anyone in the world in the modern information age. How to read economic calendar. Important tips, focus on the most important news that could produce the greatest effect on the market. Dollar is going upward, and vice versa. The actual reading appears at the time of the release. Dont rush into a trade. Non Farm Payrolls and the Unemployment Rate can move the market substantially. If your fundamental reasoning and technical analysis fail and the markets reaction to the news doesnt match your expectations, do not go against the market.
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The trader who uses this strategy will build up his positions slowly, and will attach greater value to low frequency releases (such as GDP reports and will wait until the overall picture offers clarity, before he makes his trade decisions. Sometimes the market will move within a range of fifty or more pips in response to data released. EST until Friday,.M. . Source: eSignal Can I Avoid Getting Hit by Volatility When Trading News? A variation on this technique involves placing a stop loss immediately on the losing position and waiting for the stop loss to be hit. Needless to say, a very extreme value can create massive price shocks in either direction, but the real use of this data is for the guidance it provides for predicting the much more important data that is released towards the end of the week. Another key news item that can prompt significant forex market volatility is central bank intervention that is usually announced over major news wires. If you trade, forex during the times of these releases, you have a chance to make a lot of money.
Trade forex on news releases