well, some lessons are worth learning and did I learn an expensive one today. Took a short on silver, I did realise that it was NFP release day so i looked back a few months and calculated that the whipsaw action should fall within the SL I had placed so i let it ride.
On the release I was almost immediately stopped out despite my charts showing that the price came within 10 pips of my stop and then plummetted nearly 80 pips. Anyway, i emailed Alpari for an explanation, they sent back their tick spreadsheet which showed that after the release the spread jumped from 7 pips to an incredible 122 pips for a few seconds and then settled down again.
needless to say I'm not a happy bunny. I've re-entered at the same level and i'm in profit again. I think i will leave NFP alone in future.
beginning to understand why Steve Hopwood refers the them as criminals now.
On the release I was almost immediately stopped out despite my charts showing that the price came within 10 pips of my stop and then plummetted nearly 80 pips. Anyway, i emailed Alpari for an explanation, they sent back their tick spreadsheet which showed that after the release the spread jumped from 7 pips to an incredible 122 pips for a few seconds and then settled down again.
needless to say I'm not a happy bunny. I've re-entered at the same level and i'm in profit again. I think i will leave NFP alone in future.
beginning to understand why Steve Hopwood refers the them as criminals now.