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The market for intra-day traders has gotten larger, and is fast becoming the modus of choice for forex traders.
One method of intre-day or short-term trading is called "event risk" trading, or, financialy known as trading economic surprises.
An economic surprise is basically a term used in fundamental trading, whereby an event is unfolded or a news item is released that is opposite to a market prediction. It can sometimes also be an event that is much more favourable than is predicted or expected.
A typical proactive trade setup takes into account that the event or news item will triger a surprise reaction in the directions predicted, and the price will react in the direction of that reaction.
A favourite event for such trades is the release of interest rates by Central Banks... market analysts frequently predict the interest rate with a high accuracy, therefore any interest rate decision that is different from expectations will move the market quite quickly and predictably.
Event risk trading is a short term approach to the currency market with most trades typically lasting no more than 24-48 hours.
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