Forex trading 4 red news events and winning | How to trade forex 2019
Forex trading 4 red news events and winning.
How to trade forex 2019.
Four red news events spread throughout the NY session. Not giving a lot away but still managed to pull a profit from the markets.
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Some pointers for successfully trading red news events:
Many traders feel nervous, stressed and tense when trading red news. This will be due to the often volatile moves and the fear of losing. There really is no need to feel that way. What’s the worst that can happen if your trade goes against you? You’ll get stopped out. But that really doesn’t matter if you have followed the rules surrounding your risk management.
The key factor behind taking a red news trade or any other trade for that matter is that you shouldn’t feel any kind or discomfort or angst. The key factor behind doing away with those negative feelings is to ensure that the amount that you lose should the trade go against you is well within your overall plan regarding your risk.
If you find yourself with feelings of regret whenever you get stopped out, reduce your lot size to an extent that it doesn’t hurt to lose even if this means cutting back to a 0.01. You can always increase this once you are seeing more winning consistency in your trading.
That fear of losing will be a real stumbling block if not removed. Once you get to a point where the losses are an expected part of your trading plan, even the tension and stress that news trading brings on will disappear.
#ForexForBeginners2019 #ForexPriceActionDayTrading #RedNewsTrading
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