What are the importance of following the news events in forex?

[Potuse]

Some Forex traders trade news and it is a very good strategy to adopt if you want to make a significant money. The traders would follow the relevant news events to predict the market. However following news events has advantages and disadvantages. Share your thoughts.

 

[Riberet19]

I think the importance is key especially if we want to operate day by day if the person does not follow the news daily can cause capital losses by not executing operations well, one can not go through the financial market blindly, this would be a brutal mistake.

 

[Planbizzle]

News events can also have an effect on market sentiment, which can affect currency values. Traders who stay current on current events are better positioned to foresee and capitalize on fluctuations in market mood.

 

[eenya00]

there was this trader i know of that is very profitable, one of the strategy he use is following the news thereby making informed decisions which always results to profit most of the time's.

 

[Yohanna]

It is very important to follow news event because this is what we'll project your trading abilities and you will be able to make a better decision while trading in the forex market.

 

[Potuse]

It is very important to follow news event because this is what we'll project your trading abilities and you will be able to make a better decision while trading in the forex market.

It is crucial to follow news event in forex because that is what will help you in making fundamental analysis which will help your technical analysis and you will be able to make good decision

 

[Danny4cash]

Following news is very important in forex trading. What some people don't understand is that happening in the world can affect forex market. Basically, forex market is a market where world currencies are being exchange.

 

[Grant]

I think it's a good idea to keep up on up to date news on the forex world. It can't hurt to keep up on it, especially since it can help you learn new things and get into new investments.

 

[Ononivami]

If you are not up keeping close eyes on the news event in forex, it is going to be difficult to carry out fundamental analysis . The news event form an integral part of the fundamental analysis in forex trading.

 

[Nomad]

The price of currency depend son economy and politics, therefore, by following news you can predict which currency will go high and which currency will go low.

 

[hastral45]

Even if your system is technical analysis, you must be careful of occurrence of any special news event released during the course of your trading. This news event do briefly change the direction of currencies before they are restore back to their erstwhile direction.

 

[Mayorla]

Following news events is very important in Forex trading. News events affect the Forex market. Though, not all news events affects it, but most news events have effect on the Forex market.

 

[eLdavis]

The news plays an extremely important role in forex trading, i remember some time back there was a day i decided to trade, so i went on to buy gold only for me to find out in the news later on that gold would be on strong sell. I ended up loosing that account in the end.

 

[Mostee501]

The importance of following news in forex can't be overemphasized, it keeps you upto date and it makes you avoid some common mistake that would have been made if not for the update.