Central Banks & Big Players

2 fails

Even with two minutes anticipation my Pepperstone's spread reached 5,5 pips... Anyway in both releases we did not have this time the "pure elevation"... I think that 7 pips SL is good, this time simply the market did not move enough.

true , 7 pips is enough . 5,5 is way too high not even oanda has those spreads

try too be careful with them

Tight SL is first rule to use Tony's strategy.

got ruined again with 2 whipsaw action + gambling trading after. computer shut down

I guess the market reaction to French and German PMI was a little underwhelming today

Maybe market is waiting for the Initial Jobless Claims - 8:30 am ET, and New Home Sales - 10:00 am ET to make some moves. I suspect that's how it is with such multiple news releases in a day, made complicated by different timings of releases.

yeah, that's why i am going to trade them too

Thanks journeyman , I was hoping to be able to get more historical data. Cheers anyway.

@Oveja: can i ask you how could you manage to put SL at BE on the first new? What broker do you have?

I have oanda , i use an EA on metatrader .

it sets 10 secs before news the orders and places SL to BE at a few pips in profit.

I use oanda for this strategy, even tho the high spread it almost doesn't slip unlike armada (or pepperstone or other ECN)

Tks for you precious feedback... I was considering to use Armada...

trading live with armada i due noticed slippage.

guess you have to read on the broker section of FF if the particular broker refunds your money if your SL gets slipped.

i haven't read much about it, i'll test pepperstone and armada(both demo) with oanda and see what happens.

The Initial Jobless Claims and New Home Sales wee both positive news, however it did not move the market as much as I have hoped. In both cases my stop losses were hit unfortunately. Fortunately 7 pips stops were not a disaster even when it happened twice in a row on the same day. It's painful psychologically, because I was looking forward to a good trading day with important news releases.

Then again, we live to trade another day. Tomorrow we look forward to German DGP, German IFO Business Climate Index, US Durable Goods Orders, three potentially market moving releases. After that I see very quiet days all the way till next Thurs when US will be releasing their GDP data. Good luck fellow traders!

Trading demo will not give you an accurate reading on slippage.

Tough day today and easy to forget the really good ones, keep smiling

Draghi's about to speak.

One neat thing about Oanda is that all your pending orders are Limit Orders, and you can control how much slippage is tolerable.

The difference between Limit and Stop Orders is that with Limit Orders, the price you get filled is pretty much guaranteed, either they are able to fill or not at all. However this can lead to situations when price move so fast there was no chance for the system to fill your order and you missed the opportunity. Stop Orders are not guaranteed, but they can lead to cases where your order gets filled 10 - 15 pips above your initial orders.

I am experimenting with Limit Orders and 2 pips upper and lower bounds. I just can't wait for today's trading sessions!