Three things that you should follow while trading the high impact news
The forex market is an extremely volatile market and every single day the number of retail traders is increasing at an exponential rate. Most of the people consider forex trading as their full-time profession since they know that this market can secure their financial freedom in life. The market becomes extremely volatile during the high impact news release and most of the novice traders lose money. In this article, we will give you three amazing tips to execute high-quality trades during the high level of volatility.
Use price action signal
Price action trading strategy is considered to be the most reliable and profitable trading strategy in the world. If you truly want to become a profitable trader then you should go for forex price action trading course. When the high impact news is released in the market don’t just jump into the trade rather wait for price action confirmation signals in the market.
Use the smaller time frame
When you trade the news releases in the market you need to look for price action signal in the smaller time frame. The experts use the minute 5 and 15-minute frame to trade high impact news release. But you should draw the key support and resistance level in the higher time frame and look for candlestick confirmation signal in the smaller time frame.
Limit your risk
No matter how well you do the technical and fundamental analysis there is always a chance that you will lose the trades in the market. So when you trade news release never risk more than 1 percent of your account capital in single trade.