Is Forex Real Time News Trading For the Little Guy?
Can forex real time trading really boost your profitability?
Forex real time trading is a way of profiting on the foreign exchange currency market from current affairs news stories and events that are happening on an international front. If you are able to predict the way these events can affect the currency markets, it could prove to be very profitable and lucrative, at least in theory. Of course as with all things, predicting the future with any certainty isn’t always as reliable as it might seem.
Of course the “big guys” in the international banks are always at the forefront of any major news item, leaving the “little guys” waiting in the wings for the news to appear on the TV or the internet. In a situation like this every second counts and the little guy finds his chances of benefiting from the situation are dramatically reduced minute by minute.
One of the main problems with this type of situation is that the markets can change so quickly, leaving very little opportunity for you to successfully jump in at the last minute and make money. As always the banks will dominate the markets. There is always a chance that luck will be on your side but then again you could just as easily find that the news goes against you and you could lose out big time.
One way to benefit from a future event such as a parliamentary election, would be to open a trade before the event has been announced. Although you can never be 100% sure, if you are prepared to bet on the outcome, you could be lucky and make a good profit.
It is very easy to let our emotions run away with us and allow any rational thought to disappear through the window. But remember to keep a business head on your shoulders as there is also a lot to lose in situations such as these. Try to console yourself with the fact that a system that makes steady profits over a period of time is the best way forward for most small forex traders to operate.
It is probably wise to ensure that you close out on your trades before these major happening occur rather than trying to make money from these events. Forex real time trading is really for the big guys, so exercise your self control and keep ahead of the game