forex news vs yechnical

Some traders love to trade off the news, some prefer not to. I steer well clear of using the news or any fundamentals to make a decision on any of my trades.

I am a pure technical trader and I rely on the information I can see coming off my charts to make trade decisions. I believe the news is factored into the price we see anyway.

Remember too much information can really confuse and paralyse us from making clear and correct decisions.

The only news event I consider to be dangerous to place trades during is the Non Farm Payroll. This comes out on the first Friday of each month usually. It’s a very volatile time to trade for the major pairs and in my view a complete lottery.

If you are just starting out, I would recommend to purely focus on the charts and learning how to read price action and mark the key levels correctly. The news is not something we need to bother with.

 

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