Forex Factory | How To Trade News?
As we have discussed in previous Blog post that Forex Factory|How To Trade News? Part-2 is now ready to teach you perfect on How To Trade News.
In the Last blog we have discussed all the Profitable and loss factors regarding News Trading, but in this blog we will understand how we ll setup the News Trading Setup.
How To Make News Trading Setup Ready In Live Chart?
1- Check Forex Factory News chart List.
2- If News Going To released On GBP/XXX Pairs than Open GBP Chart.
3- Set your Buy Stop and Sell Stop Before 5 Minutes Of News Released.
What Should Be Our Setup Process?
After Opening the Forex Factory check that list of 3 tables in front of you.
You must aware that you are looking into the exact TIMEZONE Countries, If Timezone is Different than First do it matched with your Country Timezone.
So, In Forex Factory we have 3 Column Tables
As we go into Forex Factory and open the ECONOMIC CALENDAR, we have 3 Columns, Pics given Above.
In This 3 Column we have in Forex Factory
1-Previous 2- Forecast 3- Actual
So, How the news is going to Impact the Market, we ll see from the “Usual Effect”
Please Check into Picture.
So, If We have Notification in Usual Effect that”Usual Effect ‘Actual’ greater than ‘Forecast’ is good for currency;” as well as “Forecast is Greater Than Actual in this case GBP Currency Pair is Strong so all the Pairs with GBP/XXX will go for Buying.
We have buy
and can Sell Opposite Currency Pairs to the GBP.
We are attaching the News Setup In EURUSD. Please have a better look.
We keep 5 pips Down Stop Loss From The Buy stop and 5 pip Up From the Sell Stop, after Releasing the News If Market Moves 5 pips Above than Market will Go Buy and Vice Versa with.