Forex Robot Critics

Forex Robot Critics

Trading The News: How Does Your Forex Robot React To Critical News Events?

Technical forex traders like to analyze chart patterns and use indicators and oscillators and moving average lines to find the best trading opportunities. Fundamental traders are more likely to rely on economic data from the various major economic powers and commodity and equity prices as the thesis for their forex trading.

What both styles of trading share in common is that weekly economic news from the countries that are home to world’s major currencies are pivotal to the success of a trader. Whether you know it or not, you’ve probably made and lost money due to an economic news release. Some news events are mundane and won’t do much to move various currency pairs, yet others are watched by traders the world over and these events are followed by periods of extreme volatility and some good pip-making opportunities.

So the question becomes what should you do with your forex robot when you know that a major news event is coming up? Let’s explore the answer in greater detail.

What Are The Major News Events And How Will Your Robot React

As we said, not every news event is a market-mover, but there are few gems that reliably spark the market. The major news events that move forex markets are interest rate decisions by central banks, unemployment news from major economic powers, GDP releases, trade balances, inflation and consumer confidence data and retail sales figures.

Traders can access free weekly calendars at scores of forex Web sites that show the news releases for the upcoming week, so there’s really no reason to be caught be surprise by the event occurring. It is possible to be surprised by the data, but that’s another story.

So what do you do with your forex robot during key economic news releases? If your forex robot has not been exposed to these market conditions previously, consider this to be an optimal opportunity to see just how your forex robot performs under volatile market conditions. Be sure you’re running your forex robot in a live account because a demo account won’t know that news events are being released.

What If The Results Are Bad?

Hopefully, you’ll find that your forex robot is successful trading around critical news releases. These are great money making opportunities and it is imperative you find a way to trade these events profitability. The worst case scenario is that your robot doesn’t perform well. Don’t panic, it may be a matter of making a few small adjustments to your forex robot’s settings. Do that and give your forex robot another try during the next big news event. If your forex robot fails you again, then consider finding a new one.

About the Author

Made a career from Forex and left my profession as a Translator almost 4 years ago; since then I work from home in my small office trading the Asiatic markets during night time, where I found a good niche. I am a fan of www.forex-robots.com

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