I guess I would call myself tech only mate.

It's a personal preference what you do with your position during NFP. If the pair is going to be significantly affected by the NFP news (any USD cross) then personally, I would exit and take my profits. If there is opportunity to re-enter 30 mins after news, then consider that. Try a few experiments on a demo account during NFP and see what happens to your positions... perhaps you can make an informed decision then. Whatever you do, don't exit the position, watch the news, and then regret your choice because the trade went in your favour. Make a decision, formalise it as part of your rules and then stick to your rules.

If you exit your positions before the news, I promise you this... there will always be another trade around the corner

Chopper wrote: Thu Sep 12, 2019 10:11 pm I guess I would call myself tech only mate.

It's a personal preference what you do with your position during NFP. If the pair is going to be significantly affected by the NFP news (any USD cross) then personally, I would exit and take my profits. If there is opportunity to re-enter 30 mins after news, then consider that. Try a few experiments on a demo account during NFP and see what happens to your positions... perhaps you can make an informed decision then. Whatever you do, don't exit the position, watch the news, and then regret your choice because the trade went in your favour. Make a decision, formalise it as part of your rules and then stick to your rules.

If you exit your positions before the news, I promise you this... there will always be another trade around the corner

Agreed. I like your approach and attitude. Lots of people can learn from this!

Seeing as you're in Oz, do you stay up late and trade throughout the US session?

ChuChu Rocket wrote: Thu Sep 12, 2019 10:16 pm

Agreed. I like your approach and attitude. Lots of people can learn from this!

Seeing as you're in Oz, do you stay up late and trade throughout the US session?

Thanks for the kind words mate. I learnt by making all the mistakes myself (and after 10 years of looking at charts Im still making mistakes haha). I'm getting better though.

This is probably off topic, but one of the best lessons I learnt was to find a trading style that suited my lifestyle. So to answer your question about trading US session - NO WAY! It's much more valuable for me to get a good night's sleep. I once traded an 8HR system (ie I had to check charts every 8 hours); Absolutely ridiculous and it burnt me out quickly. Not sustainable. Personally, staying up late to trade US session is also unsustainable (for me). Much better to have a consistent time period that you're able to trade in and still live your life.

These days, I check charts right before i go to work (which fortunately is right near market open). After 30 mins, I'm done for the day and dont look again till I come home from work (just to have a vague idea of what I can expect in the morning).

Best of luck to you mate. If you stay humble and keep learning, you'll do great, :!:

I think pure technical analysis is not enough sometimes big news can flop your stratigies so it is always a good idea to keep a watch on expected big news events.

Ofcorse you need both, no analysis is complete if you just focus on one part and ignore the other be it news or some other factor.

Tom_23 wrote: Sun Mar 29, 2020 11:23 pm A balanced blend of both is always good and reliable. A traders should never leave any part untouched.

I totally agree to that. A good trader will never skip anything.

Daniel wrote: Mon Apr 20, 2020 5:43 pm

Well said, We just can't minimize the importance of one factor. All need to be taken before we reach a conclusion.

Exactly! Everything is important.

We need everything.

Jimmy wrote: Fri May 04, 2018 3:08 pm You can get away with trading technicals if you're trading higher timeframes (4 hour and above) but you absolutely need to know your fundamentals (news) to succeed.

A fun and easy way to learn fundamentals for new traders is by practicing with the free Forex Hero App. It'll take you through a trading school and give you real historic news scenarios with information and you answer questions on where you believe the trend is heading to unlock more levels and so forth. What's great is that it's an easy to understand app and it doesn't have popup ads or other bullshit either so it's perfect for newbies

Thank you very much, jammy, for providing a channel for learning