{quote} Hmm I agree with you to an extent. I trade risk events constantly and profit from them, but I will be frank in saying when trading them for SEK, NOK, TRY, MXN, RUB, ZAR they can fly up and down like crazy. For example I would not trade a TRY risk event because you cannot use hard stop losses and the wrong drive can blow your account. In regards to USD/TRY I think its going back up.
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I was thinking about it, how is it possible to profot from news events when you do not have the information. But maybe that is statistics and probabilities I guess. Like if the release is lets say positive for eur and price moves 5x SL then it is profotable probably. Nees to find good sl because it happens that price moves for some time to the wrong side. Need to investigate that. So if you lose , you lose 1 dollar, but if you win, you win 5 dollars, so you do not need to be right that often
Haven't gotten a response yet I have heard good things about oanda respecting stops so hopefully they will offer some relief. I do use the squawk that's where I got headlines about the presidents Comments on the rate decision. Also tried exiting the trade but wouldn't let me. I've traded central bank decisions live for 2 years now and usually had pretty good results but I've always traded the major pairs and had stops respected so definite lesson learned
{quote} Have they refunded you? Also I suggest you use Ransquawk or at least have forexlive.com paired on your phone for free. A few banks were expecting a hike today, its just that TRY did not hike the last time and it spiked.
{quote} I was thinking about it, how is it possible to profot from news events when you do not have the information. But maybe that is statistics and probabilities I guess. Like if the release is lets say positive for eur and price moves 5x SL then it is profotable probably. Nees to find good sl because it happens that price moves for some time to the wrong side. Need to investigate that. So if you lose , you lose 1 dollar, but if you win, you win 5 dollars, so you do not need to be right that often
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You need Ransquwk to get the information fast.
Watch this mini documentary and watch how he makes 50k in minutes by getting the info fast. All my trades are based on the squawk and the analysis Ransquwk provide.
Haven't gotten a response yet I have heard good things about oanda respecting stops so hopefully they will offer some relief. I do use the squawk that's where I got headlines about the presidents Comments on the rate decision. Also tried exiting the trade but wouldn't let me. I've traded central bank decisions live for 2 years now and usually had pretty good results but I've always traded the major pairs and had stops respected so definite lesson learned {quote}
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Well if you know the process then it sounds like you took a massive risk then because the analysis said them hiking was a strong chance
Definitely took a massive risk but I got in at 6.4446 SL at 6.2509 and got taken out at 5.9728..... 2781 pips of slippage just seems a little crazy to me
Definitely took a massive risk but I got in at 6.4446 SL at 6.2509 and got taken out at 5.9728..... 2781 pips of slippage just seems a little crazy to me
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Not crazy at all when the spikes are moving that quick it breaks your stops. Especially with exotic pairs
i got to say i dont look at the charts much anymore, just for price action and volatility. fundamentals is the way to go. I have a simple technical setup where i set buy/sell stops as well tps and sl's. Its hard to lose trades with fundamentals as long as you have good risk management. its mind boggling how people will dismiss fundamentals simply because they dont understand and feel like its hearsay but its really not. Its supply and demand, basic fucking economics. ALL profitable traders that i personally know use technical/fundamental analysis. Real economic data does not lie.
Hi all Fundamental-ers out there,
I try to get the Forecast number for future release.
On this site, as of the end of Thursday, forecast numbers for next week are very few.
I find babypips has more information. For example, EUR Final CPI y/y: babypips has forecast number of 2.0% while no information is provided on Forexfactory.
So please comment on the following question:
1- Is Babypips is reliable
2- Is there any other site free/commercial that provide the forecast information?
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Membership Revoked
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Joined Jun 2017
|1,576 Posts
I am also long on eur/USD and and aud/jpy. Sentiment continues for those weak cpi numbers and we have less risk for aud and some decent data from China.
Hi all Fundamental-ers out there, I try to get the Forecast number for future release. On this site, as of the end of Thursday, forecast numbers for next week are very few. I find babypips has more information. For example, EUR Final CPI y/y: babypips has forecast number of 2.0% while no information is provided on Forexfactory. So please comment on the following question: 1- Is Babypips is reliable 2- Is there any other site free/commercial that provide the forecast information? Thank you. HHC https://www.babypips.com/economic-calendar?timezone=America%2FNew_York&week=2018-W38...
I am also long on eur/USD and and aud/jpy. Sentiment continues for those weak cpi numbers and we have less risk for aud and some decent data from China. {image} {image}
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closed both these positions for a tiny loss as the volume was nill
Sentiment from yesterdays weak CPI for USD. I was 15+ pips in profit but then the volume went, but doesnt matter as I made big profits on USD/RUB & EUR/SEK
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Membership Revoked
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Joined Jun 2017
|1,576 Posts
I will be positing trades from TRY, ZAR & MXN, but before I post the trades I need to see that they close out properly because holidng them accross the weekend is risky. These will be swing trades just like how I did with TRY. TRY is in a similar place where I got my 1st entry 3 weeks back.
Reason for Trades:
TRY - Central bank hike not enough to save Turkey and their president is talking down the Lira as much as possible.
ZAR - They are headed to a recession and their politics is a shambles.
MXN - General dollar buying vs it as traders have taken profit from it and continue to do so.
If these trades do not close healthy I will cut the positions 9.59pm today.
I will be positing trades from TRY, ZAR & MXN, but before I post the trades I need to see that they close out properly because holidng them accross the weekend is risky. These will be swing trades just like how I did with TRY. TRY is in a similar place where I got my 1st entry 3 weeks back. Reason for Trades: TRY - Central bank hike not enough to save Turkey and their president is talking down the Lira as much as possible. ZAR - They are headed to a recession and their politics is a shambles. MXN - General dollar buying vs it as traders have taken...
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I will wait to see what they unveil as a economic plan to right the ship for TRY. Sept 20th is the release date... Any short comings can see an resumptions of the trend of Lira selling. Anything before that... is mostly just technical movements.
Not to mention... those rollover rates for holding TRY overnight... it is a killer.
Fundamental Trading Always beats Technical Trading 100%
