How Can One Trade The Forex Market And Most Importantly Trade The News In The Forex Market? | All About Money Online

You have to open a forex acct; FXCM or FXDD or other. Or you can trade the Forex Futures by opening a futures acct. We used to be able to place a buy stop on the upside, 20 or 30 pips away from the current price before the news, and place a simultaneous sell stop 30 pips on the downside (essentially a straddle on the current price before the news), and just wait for one of the stops to get hit and cancel the other. I lived off of those profits for more than a year. But they put a stop to that about a year ago and started running the stops in both directions just before the news announcement. Now you have to wait a minute or two and see where the initial thrust pauses. On the reversal, if there is one, a 50% retracement is a trade signal, and a move beyond the initial thrust is a trade signal. You may want to give the GBP 60% retracement. So it can still be done, but there’s no way to take advantage of the initial thrust from the news w/o guessing beforehand.

In order to play it safe, you have to wait about 5 min for the dust to settle after the news, and just jump on the new trend.

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