Do you place stop entry orders before the news at your desired level or you enter at market?
Assuming you place entry stops, how are you orders handled when the market gaps by 20-30 pips?
This whole news thing is one of the few things I am still not getting about FOREX.
For example, today I had a short signal on EURUSD with entry @ around 2640.
Prices ranged before trade balance announcement, so at 8am i removed my stop entries and waited for the news to come out.
My rule is that I only participate to news announcements if my order gets filled at least 30 minutes prior to the news. If I am not in the market by then, I'll wait another 15-30 mins after the news and wait for volatility to settle down.
By doing this, I capitalized on many opportunities created by news announcements and exploit new patterns created by high volatility.
However, its pretty frustrating to sit here and watch the dollar make new lows when I had a short signal...
I dont mean to be too conservative, but I feel like trading under news is pure speculative trading which doesnt need tech analysis at all.
Assuming you place entry stops, how are you orders handled when the market gaps by 20-30 pips?
This whole news thing is one of the few things I am still not getting about FOREX.
For example, today I had a short signal on EURUSD with entry @ around 2640.
Prices ranged before trade balance announcement, so at 8am i removed my stop entries and waited for the news to come out.
My rule is that I only participate to news announcements if my order gets filled at least 30 minutes prior to the news. If I am not in the market by then, I'll wait another 15-30 mins after the news and wait for volatility to settle down.
By doing this, I capitalized on many opportunities created by news announcements and exploit new patterns created by high volatility.
However, its pretty frustrating to sit here and watch the dollar make new lows when I had a short signal...
I dont mean to be too conservative, but I feel like trading under news is pure speculative trading which doesnt need tech analysis at all.