Wow, you do all this 30 seconds before , great stuff for not making any mistakes so far. I was having a profitable run, I was using an ea that automatically places a stop loss, so it saves me time. I would enter like 5 seconds before a news announcement. The combination of getting stopped out prior to the news and even getting it wrong was about 50% because I did lots of research prior. It worked because of the win to loss ratio which im sure youa re aware of.
There was however one problem, in fact it happenned twice for me. At 7am Australia, Sydney time when the news anouncements occured for the RBNZ rates etc, for some reason my stupid broker freezes at that time, because that's when the new trading day starts. So I enterred, it didn't process for like 10 seconds well after the market reacted, hence my stop loss couldnt be enterred. And I was wrong in terms of the market. I lost so much. That pissed me off so much, and my broker didn't find themselves responsible.
The broker was Pepperstone. They have freezes like that twice a day. I'm sharing this because, whilst the strategy may be sound and fit with probabilities, at the end of the day it might be your brokers slow processors that ruin your profit potential. I'm looking to be profitable in both price action and news trading so that I can move to more reliable and larger brokers such as Citi so that this problem doesn't occur.
Do you experience any freezes from your brokers?
There was however one problem, in fact it happenned twice for me. At 7am Australia, Sydney time when the news anouncements occured for the RBNZ rates etc, for some reason my stupid broker freezes at that time, because that's when the new trading day starts. So I enterred, it didn't process for like 10 seconds well after the market reacted, hence my stop loss couldnt be enterred. And I was wrong in terms of the market. I lost so much. That pissed me off so much, and my broker didn't find themselves responsible.
The broker was Pepperstone. They have freezes like that twice a day. I'm sharing this because, whilst the strategy may be sound and fit with probabilities, at the end of the day it might be your brokers slow processors that ruin your profit potential. I'm looking to be profitable in both price action and news trading so that I can move to more reliable and larger brokers such as Citi so that this problem doesn't occur.
Do you experience any freezes from your brokers?
HMSR