Dear Glen,
I would like to know how long we have to avoid news. I triggered 2 hours before the news but it became overlapped with a news due to a long retracement. Although I ended up three small winners, I felt I should have avoided the trades because of news. Could you tell us how you deal with the NEWS, please?
I did three trades last night. When I started looking at charts, I found I had missed a gooood timing. I just looked at the charts helplessly for about an hour.
1. GBPUSD: +26 (TP1), +35 (TP2), +11 (Trailing Stop)
After being triggered, it retraced almost two hours. Although it became a small winner, it could have been disastrous. After my trading, it dropped 170 pips to my opposite direction due to news (BOE Gov King Speaks and Inflation Report). The market gave up all gains last night like a roller coster.
2. GBPJPY 1st Trade: +25 (TP1) +9 (Trailing Stop out)
When TRIX signal appeared so I triggered GJ. Then it retraced (sigh) for about another hour. After checking FX calendar, I found some news coming such as Claimant Count Change (I don't know what that meant but it would be important because it is red). I had to decide to stay (risky) or flee with some loss (about -20 pips). I decided to stay because I wanted to see what happens. I was doing demo so I just wanted to see how news could infuence. Luckly, it went up and TP1 (+25p) was hit and then Stopped out with Trailing stop, which ended up a meger +9.
3. GBPJPY 2nd Trade: +25 (TP1), +7 (TS out)
Right after the above first trading, I reentered due to TRIX Signal. It stopped out: + 7pips (trailing stop was +25 p) before a huge drop due to another big news (BOE Gov King Speaks and Inflation Report).
I would like to know how long we have to avoid news. I triggered 2 hours before the news but it became overlapped with a news due to a long retracement. Although I ended up three small winners, I felt I should have avoided the trades because of news. Could you tell us how you deal with the NEWS, please?
I did three trades last night. When I started looking at charts, I found I had missed a gooood timing. I just looked at the charts helplessly for about an hour.
1. GBPUSD: +26 (TP1), +35 (TP2), +11 (Trailing Stop)
After being triggered, it retraced almost two hours. Although it became a small winner, it could have been disastrous. After my trading, it dropped 170 pips to my opposite direction due to news (BOE Gov King Speaks and Inflation Report). The market gave up all gains last night like a roller coster.
2. GBPJPY 1st Trade: +25 (TP1) +9 (Trailing Stop out)
When TRIX signal appeared so I triggered GJ. Then it retraced (sigh) for about another hour. After checking FX calendar, I found some news coming such as Claimant Count Change (I don't know what that meant but it would be important because it is red). I had to decide to stay (risky) or flee with some loss (about -20 pips). I decided to stay because I wanted to see what happens. I was doing demo so I just wanted to see how news could infuence. Luckly, it went up and TP1 (+25p) was hit and then Stopped out with Trailing stop, which ended up a meger +9.
3. GBPJPY 2nd Trade: +25 (TP1), +7 (TS out)
Right after the above first trading, I reentered due to TRIX Signal. It stopped out: + 7pips (trailing stop was +25 p) before a huge drop due to another big news (BOE Gov King Speaks and Inflation Report).