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  • #15,681
  • Jan 5, 2018 7:52am Jan 5, 2018 7:52am
Quoting Tony112
{quote} You could try cad/jpy, usd/jpy. I don't recommend gbp/cad because of slippage and high spread. With usd/cad you could also hit the jackpot sometimes. I will put 2 trades USD/CAD and CAD/JPY
I tried to do that. I tried to sell both of them.
At 5 seconds before release time, Oanda locked me out of the CAD/JPY sell and accepted the USD/CAD sell.
I got lucky- made money without losing the other side of the straddle.

I am a little concerned about the lockout- the next time it could cost me money. Why did they do that?
  • #15,682
  • Jan 5, 2018 8:07am Jan 5, 2018 8:07am
First time posting on this post .still learning this method.So far so good. Just a one question Do you guys always use two pairs to trade (EU & UJ long for a news for an example ) or just one pair t o flip the coin

Thanks.
  • #15,683
  • Jan 8, 2018 6:27am Jan 8, 2018 6:27am
Piphunter,

one pair traded usually and:
1/ Choose to go with the direction of forecast (you might get a slightly better than even win rate over a decent period of time???)
2/ Choose to go against forecast direction (gives you bigger wins through bigger shock value on the win - sometimes)
3/ wait for price action inside last minute and go against the pre-trade price spike (as the banks often chase weak stops ahead of the news event)

...and 4/ flip a coin....


(some of us also trade two pairs when there is two news events on at the same time- so for NFP I traded USD/JPY and for Canadian news I traded CAD/JPY so one does not impact the other so much... as there was no JPY news at that time)

Hope that helps...
  • #15,684
  • Jan 9, 2018 10:09am Jan 9, 2018 10:09am
Hello guys, thank you Tony for a great thread!

I just wanted to ask you, in first post you are saying that we should go to a last page. I am just little bit confused, if we are trading now just a big news or we are trading that scalping method from the beginning.

Could you please tell me if I should read the thread from the beginning ( I already did 40 pages) or I should start from the end.

Thank you for your help and advices.

  • #15,685
  • Jan 10, 2018 12:03am Jan 10, 2018 12:03am
Quoting chyldom
Hello guys, thank you Tony for a great thread! I just wanted to ask you, in first post you are saying that we should go to a last page. I am just little bit confused, if we are trading now just a big news or we are trading that scalping method from the beginning. Could you please tell me if I should read the thread from the beginning ( I already did 40 pages) or I should start from the end. Thank you for your help and advices.
Ok I got it now, no more scalping , sorry for the post above I saw few more pages and now it seems to be more clear. Green pips to all .
  • #15,686
  • Jan 10, 2018 11:28pm Jan 10, 2018 11:28pm
Hey Tony,
Friday's USD news is about 4 or 5 different releases at the same time.
Is that one we should stay away from?
If I do trade it, would you recommend EURUSD or USDJPY?
Thanks
  • #15,687
  • Jan 17, 2018 8:13am Jan 17, 2018 8:13am
Rolled the dice on Cad Interest rate decision. Came out short on USD/CAD. Will just follow that.
Invest in alarm clocks
  • #15,688
  • Jan 17, 2018 8:21am Jan 17, 2018 8:21am
Quoting Tony112
Rolled the dice on Cad Interest rate decision. Came out short on USD/CAD. Will just follow that.

My coin came up long. One of us should make a little money.
  • #15,689
  • Jan 17, 2018 8:32am Jan 17, 2018 8:32am
Quoting Tony112
Rolled the dice on Cad Interest rate decision. Came out short on USD/CAD. Will just follow that.
Still 16 pip SL?
120 pip TP?
  • #15,690
  • Jan 17, 2018 8:57am Jan 17, 2018 8:57am
Quoting billbss
{quote} Still 16 pip SL? 120 pip TP?

25SL to be safe!
Invest in alarm clocks
  • #15,691
  • Jan 17, 2018 8:57am Jan 17, 2018 8:57am
If long, I will go long after too
Invest in alarm clocks
  • #15,692
  • Jan 17, 2018 9:03am Jan 17, 2018 9:03am
Officer down, officer down
Invest in alarm clocks
  • #15,693
  • Jan 17, 2018 9:03am Jan 17, 2018 9:03am
I'm hit, help
Invest in alarm clocks
  • #15,694
  • Jan 17, 2018 9:03am Jan 17, 2018 9:03am
I'm bleading
Invest in alarm clocks
  • #15,695
  • Jan 17, 2018 9:15am Jan 17, 2018 9:15am
OANDA locked me out of entering a trade 5 seconds before the release.
It saved me money- I would have been stopped out- but I still want to know why it does that.

Message said- "cancellation reason: STOP_LOSS_ON_FILL_LOSS"
  • #15,696
  • Jan 17, 2018 9:32am Jan 17, 2018 9:32am
Quoting Tony112
{quote} 25SL to be safe!
Does that go for the rest of the news this week? 25SL?
  • #15,697
  • Jan 17, 2018 9:36am Jan 17, 2018 9:36am
Newbie question.

I placed order with 20 pips stop loss on CADJPY. broker stop me out stopped me out on 70 pips. That's nonsense.is that happening quite often or is that down to broker ?


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  • #15,698
  • Jan 17, 2018 9:55am Jan 17, 2018 9:55am
Quoting piphunter123
Newbie question. I placed order with 20 pips stop loss on CADJPY. broker stop me out stopped me out on 70 pips. That's nonsense.is that happening quite often or is that down to broker ? {image}

When the market goes from 0-70, there is no 20! The market steps over 20.

If your gonna hold during FF Red NEWS remove your SL, and expect large price swings like this. But also remember you might not be on the right side of the move. If your trading with a 20p SL my advice would be to not hold positions during RED news events.
Learn, a forex trader must, unlearn and relearn he will.
  • #15,699
  • Jan 17, 2018 10:13am Jan 17, 2018 10:13am
  •  Baldi
  • | Joined Jan 2007 | Status: Reading news and comments... | 77 Posts
Quoting COGSx86
{quote} When the market goes from 0-70, there is no 20! The market steps over 20. If your gonna hold during FF Red NEWS remove your SL, and expect large price swings like this. But also remember you might not be on the right side of the move. If your trading with a 20p SL my advice would be to not hold positions during RED news events.
... especially at interest rate decisions! I know that it is very tempting to trade them, but you must always be cautious with these!!! So the question in these cases is not just Buy or Sell, but Buy / Sell / No trade! Today I took the "No trade" and this proved to be wise. Now I am content with this decision.

(I know I did not directly followed Tony's rules - sorry for that-, but today this step was effective).
  • #15,700
  • Jan 17, 2018 10:19am Jan 17, 2018 10:19am
Wishing I clicked on this thread sooner, I do!
Learn, a forex trader must, unlearn and relearn he will.
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