Market news and analysis
Below is the professional news application by London’s Newsquawk. It delivers market’s real-time news, analysis and so-called inside knowledge on a 24/5 basis. News trading has its own section on our page, there also is a deviation app and tradeable releases’ notes in our extra content. Upcoming news releases’ analysis: FEN and FPA. Additional info section, at the bottom right part of this page, contains real-time overview of major stock markets. It shows the current risk sentiment. Strong risk sentiment is a logical confirmation to any technical analysis strategy. If the content of MarketView’s service providers has loading issues, “reload” usually helps. Frame views are intentionally limited to show only the essential information, in a most compact, user-friendly way. There are some useful trading notes and suggestions in a random order below:
Use money that you can afford to lose. This will help removing emotions from trading.
Always use a stop-loss. Set the maximum limit of a loss as 3% of account balance.
Pay main attention to technical analysis and confirm with the fundamentals.
Do not overtrade. Spend only a couple hours per day, but stay highly concentrated during that time.
Greed is the direct way to poverty. Even if the entrance to market is very good, act strictly according to the rules.
Don’t enter the market if you have any doubts.
Close your positions before the market is closed for weekends or international holidays, so you won’t face a gap.
Cut your losses short, let your profits run.
When things don’t work out right, when your best forecasts fail you – get away from the market and take a trading break.
Never add to a losing position.
Never increase your risk with success nor reduce a proper risk level after a losing trade.
Don’t let your emotions (despair, fear, anger, greed) control you and affect your decisions.
Regularly take profits from your account. Reward yourself and make use of the results of your successful trading.
Learn to look at the market through the same lenses as big players, active traders, and other major influences.
Don’t be caught unaware by the market, do not try to predict or anticipate it. Only react to it.
Plan your trade and trade your plan.
If you get a sign that the market wants to reach a level, usually it will.
Never chase the market. If you just missed a correct setup, wait for another optimal place to get on board.
Be confident and positive. Uncertainty and negative emotions are your most dangerous enemies.
Patience makes the difference between winning and losing. It is the most important attribute a trader can have.
There should be a good and clear reason for entering any trade. Be prepared, wait for the market to come to you, then act.
Never change your trade plan mid-trade.
Learning takes time and dedication but it is well worth the effort for financial independence.
The patience required increases the higher up the timeframes you trade.
Trader’s most important work is watching, waiting and being patient, not the trading part itself.
Do your own research and come to your own conclusions. Trust yourself and your decisions.
Write notes and regularly analyze your performance, so you can improve your trading.
Consider the risk and the potential reward before taking a trade.
Exits from the market are at least as important as the entries.
When adding to a winning trade, start with the largest position and then add in smaller increments each time.
Inaction usually makes the trader anxious to trade and take average looking, losing setups.
Indicators are illusions of control which lead to very poor trading habits and prevent a new trader from developing.
Greed interferes with patience and discipline. Where there is money, greedy traders see the potential, not the probability.
Treat Forex as a business. Trade professionally to make money, do not trade just to trade.
Try your hardest to trade without emotions.
Anger causes traders to compound losses by revenge trading.
Selling into strong support and buying into strong resistance is always dangerous.
Look for the most obvious and take only the best setups. Never try to justify a trade when it’s not clearly there.
There are times, because of lack of liquidity, or excessive volatility, when you should not trade.
Never trade when you can not concentrate or generally do not feel well.
Measure your performance by profitable days in a row or by weekly profit, not by individual trades.
Don’t ever regret a missed opportunity. There is always another one just around the corner.
If you look for market secrets you will only find things that no one cares about. Use the conventional tools.
When you make a mistake of discipline, write it down, analyze it and tell someone about it.
Buy the first pullback from a new high. Sell the first pullback from a new low.
Don’t buy up into a major moving average or sell down into one.
Price has a memory. What did price do the last time it hit a certain level? Chances are it will do it again.
Selection of reliable informational sources
The idea of MarketView section is also to present some high quality informational websites, from personal experience. From these, reader can select the most suitable ones. Above there are links to the best news/analysis websites. Although the economic news flow is generally the same, trader will soon notice, the differences in websites’ ways of interpreting and analyzing the data. Economic and financial analysis of news agency Reuters’ is used by many informational websites as a source. For example ForexLive, ForexFactory and FXStreet pick out the essential forex related releases from Reuters’ news flow and present them with own comments. Bloomberg’s free TV-feed is a respected news source among traders. Its feed covers major events like central bank’s statements and large-scale geopolitical news. ForexLive’s comments and forecasts can be extremely helpful in trading. During the day time, the economical and political news flow gets quite cluttered also at ForexLive, so readers must to pick out only the essential, tradeable information. ForexLive’s experts analyze general trends of the market and forecast the effects of the upcoming news releases. They also suggest tradeable zones and inform about the banks’ and investment companies’ intentions and current trading positions. During the quieter period (morning, evening and night) all this valuable information is much easier to spot and to acknowledge. ForexFactory’s news section conveniently collects informational releases from various sources and let the readers discuss them in comments section. For all the informational sources above it should be noted, that although others’ analysis could and sometimes should be utilized, trading decisions must be made based on own final analysis and strategy terms!