Rags to Richessort of strategy for news, but what I found was a bunch of blocks.
For example, the platform would freeze only during news times
and that actually made it completely impossible to trade efficiently.
The specific news release that I use to trade was nonfarm payrolls.
I had so many problems technologically that I just told myself it
wasn’t worth it to trade the news anymore.
Q: A lot of people don’t trade news because of the same prob-
lems, and they realize that if they have a solid strategy, money can
be made in any sort of timeframe.
A: Yes, that is right.
Q: So, basically, would you say that most of the resources that
you use are free?
A: That’s right, yes. The trading platform and live charts are free.
Q: Do you feel that it is necessary for someone new to invest
in something that’s expensive? Like one of the premium charting
packages?
A: No, don’t invest in expensive charting packages. Live charts
are available at no cost with equivalent information. I love reading
and I love learning. I think that’s part of the challenge of working
in FX. I spent like$90 here,$150 there, etc. But what I found was a
lot of the books that I purchased were quite honestly not worth the
paper they were written on. They taught the standard issue such as
the moving average crossover or stochastic. I don’t even think these
guys took the effort to actually thoroughly test the strategies that
they were teaching. Admittedly, the strategies would work once or
twice. But more times than not, they would not work.
This actually leads me to my next point, which is that just over a
year ago, I backed off trading for a while and turned to my current