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You’ll be able to benefit from one on one support from our specialist team and develop your expertise with our professional Forex trading resources and insights. Meta Trader 4’s trading tools and easy-to-use interface are the reason why it is the platform of choice for most traders around the globe. The transaction or operations in the forex or fx markets does involve a substantial degree of risk, and should not be undertaken until the user has carefully evaluate whether their financial situation is appropriate for such transactions. The Authority’ on Price Action Trading. In 2016, Nial won the Million Dollar Trader Competition. This is Probably One of the Most Crucial Aspects of Trading. To trade the news or to trade the price action ?
Today I share my views on this interesting topic which can often be the main reason a trader fails. I am not a fan of trading the news or fundamentals, and this article explains why. Make a Nice Comment Below or Post it To Twitter. Forex news and Forex fundamental variables are topics that many traders email me about each week. The fact of the matter is that as a price action trader I believe that all fundamental variables are reflected in the price action on a plain vanilla price chart. The primary reason that I believe this is because price action is the final result of all catalysts and participants in any financial market. Now, there may be some diehard economists and fundamental traders who will disagree with what I am saying here.
So, let me make myself clear, I am not saying that news cannot be used or that fundamental traders can’t make money in the markets. What I AM saying, is that the effectiveness and relevance of price action trading cannot be disputed. As price action traders we want to make our trading simple, and in order to simplify we remove the news, economists, and so-called market gurus. Many traders over analyze the news and this ends up confusing them and causing them to second guess themselves. There are just too many variables each day as far as news and fundamentals are concerned for any individual trader to have enough time to make effective use out of them. It’s only going to introduce more variables for you to over-analyze and take your focus off the price action of the market. Once you learn how to identify and trade a handful of simple yet high-probability price action trading strategies, you will have an effective trading edge that you can use to achieve success in the markets over a period of time.