There are many factors to consider when trading the economic news releases - part number crunching, part guesswork, part experience. Especially in the forex market, the more you know, the less chance you will mess up.
Lately, I have given it lots of thought and really wanted to automate my news trade entering technique. Using an expert advisor program, I am able to adjust and adapt my entry criterions when dealing with the different types of forex events.
My news trading method is currently in the final phase of testing and it is going to be tested fully via backtesting and forward testing. Hopefully from now on, I will be sharing my experience on how to trade the forex news successfully.
When everything is automated, I'll be relying on its "discipline" to help me make a lot more pips for my trading accounts. Today, the news trading program has been put into good use. As a good example, I give you the price action from the ECB press conference following Trichet remarks after leaving the Euro rate on hold .
Screenshot attached below:
No comments:
Post a Comment