Mario Singh talks about different forex strategies at his site Askmariosingh.com.
Successful forex trading takes into account all factors that contribute to market movement. While conducting technical analysis is a good way of trading, it is just one aspect of formulating a good trading strategy. To truly be successful, we also need to look at the news because it is the fundamental force that creates market movement.
Trading based on the news is a perfectly viable way of trading. But there actually two ways of forex trading using the news – a directional bias and a non-directional bias.
Directional bias means that you are think the market will only move in one direction when influencing news is released. This is hinged on the belief that specific news will only push the market to move in a certain direction.
But first, we should talk about what consensus and actual news. The news that will affect the market is always anticipated, day or even weeks before it is released analysts will already release their forecast – whether the numbers will have a positive or negative [Read more...]