News trading makes a lot of people a lot of money. There are a few softwares that gives the "BUY" or "SELL" signal a few milliseconds BEFORE the brokers catch on. For those who can afford it, or want to give it a go for 25 days, the SECRETNEWSWEAPON is probably in my opinion the best.
For others who wish to try another method, I would recommend looking for HIGH impact news. The calendar is freely available at FOREXFACTORY .
Use the 5min timeframe and then make a trade in the direction of the 1hr trend. I normally trade the GBPUSD and only for the UK news with this method, buying or selling 2 pips above or below the 5min candle.
For example, if the news is at 0930hrs, then I will look at the 0930 to 0935 candle, and buy / sell using that candle as my base.
With both ways, I first recommend you paper trade until you are confident BEFORE risking any of your capital.
Good Luck
Custom Search
Wednesday, 2 July 2008
Subscribe to:
Comments (Atom)
