1. You don’t need to trade any interesting events
Try to master a few specific events rather than many events.
2. Monitor the most important events
You do not need to trade them - but you definitely want to see the big picture. Sometimes a shocking unemployment rate release in the morning affects the behavior of the market for the whole day. You shouldn’t trade a different event for one hour after the unemployment rate without taking it into account. Get started with economic calendar - the most important events pre filtered for you (free, no credit card needed).
3. It’s about analyzing the statistics to gain an edge
There is no foolproof strategy that will work every time, but by preparing ourselves and making good decisions based on our data, we should win more often than not.
As a trader, you can improve your performance if you:
- Know how the market reacted in similar situations
- Get control over your trading