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  • #821
  • May 22, 2018 7:54pm May 22, 2018 7:54pm
We had some bad news come over night about trump being unhappy/unsatisfied with trade talks.

Metal tarrisffs to remain on chine also Mnuchin says.

NZD also stated it had significant room for easing.

I did actually wake up and see the news via Ransqauwk in real life time, but was half asleep and the market chose to react bang on 2am at the start of the Asia session. Sometimes you have to be able to critically think and act fast!! Could have had a 100 pips to my name
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  • #822
  • May 22, 2018 8:49pm May 22, 2018 8:49pm
Quoting Samson85
We had some bad news come over night about trump being unhappy/unsatisfied with trade talks. Metal tarrisffs to remain on chine also Mnuchin says. NZD also stated it had significant room for easing. I did actually wake up and see the news via Ransqauwk in real life time, but was half asleep and the market chose to react bang on 2am at the start of the Asia session. Sometimes you have to be able to critically think and act fast!! Could have had a 100 pips to my name {image}

Just closed the trade for some profit as it looks like we may have a bit of a retracement.
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  • #823
  • May 22, 2018 8:52pm May 22, 2018 8:52pm
Quoting Samson85
{quote} Update on USD/CAD which was bought on clean suport levels. The trade is now 45 pips up {image}
Pretty much 100 pips up from yesterdays USD/CAD long

May take 25% profit from the table on this one for safety measures.
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  • #824
  • May 22, 2018 9:45pm May 22, 2018 9:45pm
Nice bro! which kind of pivots are you using in your chart? can I see your trade performance on your trade report just to learn? Thanks
  • #825
  • Edited 12:41am May 23, 2018 12:02am | Edited 12:41am
Hi Samson,
a) Did the markets start going into "risk-off" mode due to trump's comments? Looks like CHF and JPY strengthened across the board.
b) Trump's comments came in after London markets closed (per Reuters) but markets reacted only after Asian session started and not sooner?

Thank you for your valuable comments.
  • #826
  • May 23, 2018 3:47am May 23, 2018 3:47am
Quoting PowerH
Nice bro! which kind of pivots are you using in your chart? can I see your trade performance on your trade report just to learn? Thanks
I use Cmc markets platform and they have superb pivot points which you can use for targets and entries. Perfect example the recent usd/cad trade perfect support level and it happened to be on a pivot point S level.
  • #827
  • May 23, 2018 3:49am May 23, 2018 3:49am
Quoting FundmntlTrde
Hi Samson, a) Did the markets start going into "risk-off" mode due to trump's comments? Looks like CHF and JPY strengthened across the board. b) Trump's comments came in after London markets closed (per Reuters) but markets reacted only after Asian session started and not sooner? Thank you for your valuable comments.
Yep 100% risk off but I didn't anticpaite it would be this powerful and only made peanuts on it it thus far.

Although my usd/cad trade has benefited from the sentiment as the string dollar and trade was has weakened oil which means cad loses strength
  • #828
  • May 23, 2018 4:08am May 23, 2018 4:08am
Update:

The managed accounts took a 0.4% hit due to me trying to trade a risk event yesterday on the gbp inflation report. The traade was right but it retraced quickly (trading live speeches instead of pretext before the start of it is risky hence why I dont trade live press conferences). The account is currently 0.4% in profit.

I just wish I had applied the usd/cad trade to the managed accounts properly and not the personal as I thought I could get away with a 10 pip stop loss lol which we can see my personal account has banked over 100 pips on it. Still getting use to the psychology of the managed account as I am more cautious with it.

On the flip side it has been a very good week thus far
  • #829
  • May 23, 2018 5:36am May 23, 2018 5:36am
I traded the GBP CPI live today and banked 40 pips on the managed accounts which brought it to 0.9%

I dont see it breaching 1.33 today but I may trade the FOMC minutes live today via USD/CAD as I am not sure if pound traders will pressure cable down via the minutes.
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  • #830
  • May 23, 2018 6:43am May 23, 2018 6:43am
Closer usd/cad for well over 100 pips
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  • #831
  • May 23, 2018 7:47am May 23, 2018 7:47am
Quoting Samson85
Closer usd/cad for well over 100 pips {image}
Good trade on USDCAD. When we trade news within seconds after the news, the spreads widen and orders get filled late. I got filled like 15+ pips later for GBPUSD and 25+ pips for GBPCAD and GBPJPY - not happy about it.

I am thinking - if it is better to trade after the initial move and retracement - if the initial move itself is not huge - and we do get smaller moves in the fundamental direction with pull back presenting us a good opportunity. By the time, the retracement happens, even the spreads come down and we do get orders filled faster. - to me this approach seems to be better...

Also, "black and white" new events where we do not have multiple reports is simpler and less riskier to trade.

Thanks, Samson.
  • #832
  • May 23, 2018 11:18am May 23, 2018 11:18am
Quoting FundmntlTrde
{quote} Good trade on USDCAD. When we trade news within seconds after the news, the spreads widen and orders get filled late. I got filled like 15+ pips later for GBPUSD and 25+ pips for GBPCAD and GBPJPY - not happy about it. I am thinking - if it is better to trade after the initial move and retracement - if the initial move itself is not huge - and we do get smaller moves in the fundamental direction with pull back presenting us a good opportunity. By the time, the retracement happens, even the spreads come down and we do get orders filled faster....

It's All about your approach and How you see best doing it.

The ways you can trade it: is as soon as you see the number buy or sell immediately. Cmc markets calendar issues the number immediately or myfxbook.

The second way is to trade it after the number. You can either do it on 5 minute chart and wait for the 2nd candle or you can buy the pull back on the next candle that emerges on the 1 hour chart.

If you had held your gbp trades you would have profited but bare in mind the market didnt react rapidly because they are also waiting to see gdp and retail sales. Normally we would get 100 to 150 pip reaction within 1-3 hours.

Trading data releases takes practice but you also need to know how important data is to the central bank otherwise the market may not react.
  • #833
  • May 23, 2018 11:25am May 23, 2018 11:25am
Two trades taken;

Aud/jpy buy
Usd/jpy buy

Reason for the trade is sentiment wearing off on trumps words and also deep retracements on bullish pairs.

I did in fact go long this morning on NZD/JPY after shorting it and unfortunately it cost me 32pip loss
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  • #834
  • Edited 2:06pm May 23, 2018 12:08pm | Edited 2:06pm
Quoting Samson85
{quote} It's All about your approach and How you see best doing it. The ways you can trade it: is as soon as you see the number buy or sell immediately. Cmc markets calendar issues the number immediately or myfxbook. The second way is to trade it after the number. You can either do it on 5 minute chart and wait for the 2nd candle or you can buy the pull back on the next candle that emerges on the 1 hour chart. If you had held your gbp trades you would have profited but bare in mind the market didnt react rapidly because they are also waiting to...

Thanks a lot, Samson. Where do you read if the Central bank is watching the release and if the news release is important for Central Bank of that currency? Can you please post a screenshot of the text that you look for in the article as well?

I am thinking - for now - will use the second approach - wait for retracement after the news release and enter - especially if the results are in the fundamental direction for that currency.

I will check out CMC Markets calendar and myfxbook.
  • #835
  • May 23, 2018 4:47pm May 23, 2018 4:47pm
Quoting FundmntlTrde
{quote} Thanks a lot, Samson. Where do you read if the Central bank is watching the release and if the news release is important for Central Bank of that currency? Can you please post a screenshot of the text that you look for in the article as well? I am thinking - for now - will use the second approach - wait for retracement after the news release and enter - especially if the results are in the fundamental direction for that currency. I will check out CMC Markets calendar and myfxbook.
My advce is to download the Bloomberg app on your phone. There are new currency articles there everyday.

Also forexlive.com is good as they have a good central bank section.

Ransquawk is very good as that's where I get my main info from.

Bloomberg currency articles basically tell you how to put on a trade with key articles.
  • #836
  • May 23, 2018 4:54pm May 23, 2018 4:54pm
Quoting Samson85
{quote} My advce is to download the Bloomberg app on your phone. There are new currency articles there everyday. Also forexlive.com is good as they have a good central bank section. Ransquawk is very good as that's where I get my main info from. Bloomberg currency articles basically tell you how to put on a trade with key articles.

I will checkout both - central bank section on forexlive and articles on blooomberg. Thank you, Samson.
  • #837
  • Edited 5:58pm May 23, 2018 4:59pm | Edited 5:58pm
Quoting Samson85
Two trades taken; Aud/jpy buy Usd/jpy buy Reason for the trade is sentiment wearing off on trumps words and also deep retracements on bullish pairs. I did in fact go long this morning on NZD/JPY after shorting it and unfortunately it cost me 32pip loss {image} {image} {image}
Terminated both trades.

Aud/jpy 11 pips won. Usd/jpy 22 pips lost.

Update: the JPY has since strengthend accross the board so was a good cutting of losses.

#Overtrading.
  • #838
  • May 24, 2018 7:28am May 24, 2018 7:28am
Quoting Samson85
{quote} Terminated both trades. Aud/jpy 11 pips won. Usd/jpy 22 pips lost. Update: the JPY has since strengthend accross the board so was a good cutting of losses. #Overtrading.
The Yen has been exerting strength on the back of political uncertainty amidst trade wars. Yesterday's huge snapback on the Yen means further strengthen of the Yen on trade war rhetoric.
Trade what you see, not what you think!
  • #839
  • May 24, 2018 7:32am May 24, 2018 7:32am
Safe havens in play as the summit is cancelled with North Korea.

I have gone short

Aud/jpy

Usd/jpy

I am hoping the Asia session will also shoot down these pairs
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  • #840
  • May 24, 2018 7:35am May 24, 2018 7:35am
Quoting OMGtrader
{quote} The Yen has been exerting strength on the back of political uncertainty amidst trade wars. Yesterday's huge snapback on the Yen means further strengthen of the Yen on trade war rhetoric.

I hope your shorting right now? or buying gold or shorting Dow
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