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NFP 10/6

  • #161
  • Oct 9, 2006 8:34am Oct 9, 2006 8:34am
Quoting MoneyMa$ter
My Fellow Newstraders,

I'm amazed at the carnage wrought by NFP this month. And Mr. Trend my friend, you too? Say it ain't so.

Would anyone believe I made a very, very healthy profit? As usual? On all my trading platforms? Despite one broker adding a 20 pip premium (or was it 25?) on buy/sell stops? Despite slippage? 'Tis true indeed, true indeed.

It's why they call me "MoneyMa$ter"; everything I touch prospers.

Maybe I'll post my accounts jus' fo' da haters, doubters and naysayers. Posting accounts and results for hundreds of dollars is cool; posting at my level I think is tacky which is why I don't do it.

Pipscooper makes an excellent point. In order to adapt, improvise and dominate, one must have confidence, without which thou shalt surely perish.
MoneyMa$ter - It would be great to know how you managed to make money on the NFP - would you care to share?

I myself was in profit by about 30 pips before letting it go against me - a harsh lesson learnt!!!
  • #162
  • Oct 9, 2006 10:49am Oct 9, 2006 10:49am
Quoting fxdm1
MoneyMa$ter - It would be great to know how you managed to make money on the NFP - would you care to share?

I myself was in profit by about 30 pips before letting it go against me - a harsh lesson learnt!!!
FXDm1,

Nothing personal but there's quite a history in regards to my sharing newstrading techniques, something I did freely once upon a time, something that helped many traders profit.

To make a long story short, the last time I shared, some noob contacted my broker, first calling then via email, with my name listed in the cc. The noob told my broker how I was trading and asked how could that be. Since then, that particular broker has changed its policy during news announcements. For example, you can no longer arrange buy/sell stops, let's say 5 pips away from market, within 15 minutes of an announcement. That was part of my strategy (straddling) and it generated tremendous profits.

I've since adapted and improvised so I continue to dominate but sharing my specific newstrading strategies is no longer an option. I encourage others and help tweak what they do but that's about it.

My former strategy and trading philosophy as well as the long version are documented in FF under an old thread entitled "How Do You Trade the News?".
  • #163
  • Oct 9, 2006 10:59am Oct 9, 2006 10:59am
Thats fucked up Money on how that noob would actually call a broker and ask them to see if a trading style is appropreated or not, and esp with news trading, it is hard enough as is for the little man to make a living with the current conditions for news trading. Still that noob is a retard to actually talk to a broker and give YOUR info out, which is yours and yours only.

Well lesson learned on this non farms. The next one should be the same, i am hoping that there is going to be another revision on this months numbers. I mean 50k? That is pretty crappy if i do say so, so i feel strongly that there will be a revision, but my feelings shouldnt get into my trading mindset, which will totally destroy me if i gamble on my feelings. Time to build up on my account agian.
  • #164
  • Oct 9, 2006 11:16am Oct 9, 2006 11:16am
the bottom line is guys forget the news use it if you can but stick to the technical the news is just noise and emotion keep it in mind but look at the technical picture on the chart. keep the bigger picture in mind.
  • #165
  • Oct 9, 2006 11:22am Oct 9, 2006 11:22am
Quoting MoneyMa$ter
FXDm1,

Nothing personal but there's quite a history in regards to my sharing newstrading techniques, something I did freely once upon a time, something that helped many traders profit.

To make a long story short, the last time I shared, some noob contacted my broker, first calling then via email, with my name listed in the cc. The noob told my broker how I was trading and asked how could that be. Since then, that particular broker has changed its policy during news announcements. For example, you can no longer arrange buy/sell stops, let's say 5 pips away from market, within 15 minutes of an announcement. That was part of my strategy (straddling) and it generated tremendous profits.

I've since adapted and improvised so I continue to dominate but sharing my specific newstrading strategies is no longer an option. I encourage others and help tweak what they do but that's about it.

My former strategy and trading philosophy as well as the long version are documented in FF under an old thread entitled "How Do You Trade the News?".
No problem MoneyMa$ter - totally understand why you wouldn't want to share. Some people just can't help ruining things for others!

I am learning all the time from my own experiences - which perhaps is the best way to learn sometimes!
  • #166
  • Oct 9, 2006 8:34pm Oct 9, 2006 8:34pm
Quoting enoc2g
the bottom line is guys forget the news use it if you can but stick to the technical the news is just noise and emotion keep it in mind but look at the technical picture on the chart. keep the bigger picture in mind.
E, I respectfully disagree.

Trading the news is FAR TOO profitable to "forget", if you know what you're doing, both on the spike and certainly on the retracement (can you say fibonacci?). Or as merlin says, "play the fade baby"!

Probably not a good thing for noobs, particularly those with small accounts and great fear. Besides, we all know news often creates fundamental trends used by TA (pun intended).
  • #167
  • Oct 10, 2006 12:37am Oct 10, 2006 12:37am
And I should accept that last October 2, the supposedly 100+ pips Long GBPUSD move before ISM report was caused by TA?

WOW! Next time, I'll consult with a Numerologist, Geomancer, Tarrot Card Reader. But I'd prefer flipping a coin instead!

I started trading using TA but finds News Trader far more reliable. Currently, I am doing pseudo TA with Mouteki + Carry Trade in between news.
  • #168
  • Oct 10, 2006 5:42am Oct 10, 2006 5:42am
Quoting BurgerKing
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Last Friday, Northfinance did not execute my order properly. After writing a complain to them, they fixed it up in my favor.

This is the 2nd time NorthFinance decided in my favor. This one listens and decide objectly unlike GFT/FXCM. I defintely will stick with this broker even if they have some downs.
dude..
how long does it takes for them to respond...? I mean NF...?
  • #169
  • Oct 10, 2006 12:21pm Oct 10, 2006 12:21pm
Quoting BurgerKing
And I should accept that last October 2, the supposedly 100+ pips Long GBPUSD move before ISM report was caused by TA?
As I said, trends are usually caused by fundamental events. TA uses those trends for predictions. No one meant that 100+ pips prior to ISM on October 2nd was caused by TA but TA showed it coming and allowed traders to get in on it early.

But you go ahead and flip a coin; soon you won't have many coins to flip.
  • #170
  • Oct 10, 2006 12:36pm Oct 10, 2006 12:36pm
Money, I think they both play a role a boost each other but what I mean is on the pound for instance you already had a toppping pattern TL break to the downside im looking the daily and weekly charts so the news which can shake out many traders is noise in comparison to the overall bearish tone, even if the news is bullish price or TA needs to display bullish breakout characteristics as confirmation. I know what u mean, but I think using both is more effective but personally I prefer using TA its def a tricky topic as far as what pushes what the fundamentals or the technicals because if enough traders see a TL break or 123 top on a chart they all think short or long.

Your point is well taken fundamentals can shift trends, at times but not all the time... I think pure TA price action can drive moves as well. Either or can add Fuel to the Fire or quench it for that matter...
  • #171
  • Oct 10, 2006 12:44pm Oct 10, 2006 12:44pm
I noticed that the ISM move was just retracement of the previous down move on the pound the topping pattern had already formed it would have been a good add in opp for another leg down which is exactly what occured, in this case the NFP number wasnt that good yet the dollar gained strength.

It was an exact 61 percent fib retracement from the pin bar up at 9050 on the 4 hr chart. it basically turned into a three wave down pattern from there.

again im looking at things from a swing trading multi day perspective not trying exploit short term news driven moves. which i personally view as noise in the overall trend or market price structure.
  • #172
  • Oct 10, 2006 12:57pm Oct 10, 2006 12:57pm
Guess im in the wrong forum since this is more news trading but its interesting how news can help develope or hamper a strong swing type trend.
  • #173
  • Oct 10, 2006 10:39pm Oct 10, 2006 10:39pm
Quoting enoc2g
Guess im in the wrong forum since this is more news trading but its interesting how news can help develope or hamper a strong swing type trend.
Say E,

You're in the right forum; question was what's going to happen with the next NFP? Several methods to reach an answer, including TA or FA or TA/FA together, or coin toss.

Great price action stuff. I noticed the beautiful pin on the 4H chart on 9/11, where cable's low was 8643, near the current pivot point, running to 9050 by 9/25, where it essentially bounced of the daily TL for the third time. Great. Triple top. Prices declined.

I also use daily TLs and 4Hs or 1H charts. What signaled an imminent long to me, was that after the decline: (a) prices had bounced off the lower TL and (b) emas had crossed to the upside. So I entered long....before the ISM. At the time, others wondered why the long happened, prior to news. My (paraphrased) response was that the charts indicated a long was imminent, traders discussed it that morning and we got in, prior to the announcement. So not to say that TA caused the move, but TA (either your approach or mine) indicated it was soon to come. Price touched the 61 fib and here we are today, with price stalled at S1.

If prices break S1, next stop is 8345. Fundamentally, USD will remain "strong" absent inflation, relatively stable/low crude oil/gold, nuclear proliferation by N Korea and the November elections. As unemployment grows, recession becomes a reality and lower interest rates in Q1 2007 (which is the government's 2nd quarter, FY 2007). When the fed lowers rates early next year, the dollar will decline again.

Enuf said.
  • #174
  • Last Post: Oct 19, 2006 2:35am Oct 19, 2006 2:35am
Quoting Blast234
dude..
how long does it takes for them to respond...? I mean NF...?
Same story was with me, but they replied to me in 1 day!!
They covered my losses. But since they installed new servers inc. proxy, the connection is perfect. Hope it will 4 ever
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