Trading Forex News

Trading Forex News can be rewarding and also devasating, it is important to learn and understand some basics. Knowing how to trade Forex news can be very challenging,  especially to the new Forex Trader. There are many factors when Day Trading Forex to consider,  in this article we will discuss some ways for you to successfully learn how to gain and edge in Trading Forex News.

Open a Forex Account

Well assuming you understand already how to open a Forex account, this section will be brief.  In order to Day Trade you must have a Forex account of some kind. This can be a "Live Account" or a "Demo Account". A Demo account is the same as a live account except it is 'pretend money' ..this is a great way to learn Forex Trading without paying the big tuition money that many Forex Traders do when they lose. Since most traders lose money when they start trading, this may be the best thing you can do to begin your trading Career. You can download a Forex Demo account and get started. Once you are able to understand Forex better, all you need to do is simply fund the account.

Know When Forex Trading News will be Released

News is often scheduled weeks or months ahead of time. We like to trade the Non Farm Payroll in our Trading Room as well as the FOMC meetings, however their are many other Forex News that you can learn how to trade. DO a google search for Forex news websites and you will see many, many brokers also supply News to customers such as Fxprimus and Finfx. We also post important articles on How to Trade Forex News in our Members Section.

Read the Forex Trading News

If you are serious about Forex News Trading, then you should start off with a Forex Mentor. In our Forex Trading Room we go over each Forex News element for the day giving numbers specific to each event. For example if import prices are expected to be 1.5% and we get .07% what may be the  impact on this? Is this bullish or bearish? Should we or should we not trade this news?  These are just some of the  questions we will answer in the Forex Day Trading Room. We sometimes post info on our non-member twitter Account

Get Ready For Action

When Trading Forex News  you want to already have a plan in place when the news is released. Trading Forex News at this time is fast and furious, you never want to day trade Forex news without a plan. This may be a devastating event if not done properly. In our Forex Room we have specific indicators on the extreme numbers if they come, and how we will react to these numbers to place or not place a trade in Forex.

Conclusion: Trading Forex News is not for everyone. Typically, one has to be able to stomach the fast moves and spikes that may come from a news release. It is best not to Trade Alone during these times. We offer a Forex Trading Room service for those looking to trade  Forex News.