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Trading news and sentiment with technical analysis

  • #21
  • Mar 19, 2019 3:31am Mar 19, 2019 3:31am
i will close this trade in a few minutes if it can't break through this level
  • #22
  • Mar 19, 2019 3:32am Mar 19, 2019 3:32am
out for a small gain - sentiment not strong enough at the moment (likely due to the major risk event tomorrow but it is still early in the session so things might pickup)
  • #23
  • Mar 19, 2019 5:43am Mar 19, 2019 5:43am
well it turns out the trade was right, entry timing was right but sentiment took longer than desired to play through - not concerned about getting out early on this as it could just as easily have turned south and taken me out. Would have been a profitable trade if the market responded faster.

So far 100% accuracy on setups with minor downfalls of market volatility and slow sentiment reducing overall success. Lets see how this develops over a course of a month and assess a full months testing. My goal is not to maximise the strategy but to ascertain if i can add an additional 2 to 5 percent on a month which would boost my overall gains when including my main strategy.

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  • #24
  • Mar 21, 2019 12:00pm Mar 21, 2019 12:00pm
i wanted to update the thread on a trade i missed (i was out driving at the time) and would otherwise have taken today. I made 40 pips this morning on a Nok trade and could have added at least 80 pips with this. The two square boxes represent my entry and the location where my trade management process would have taken me out. Adding it to this thread as i will be using this for reviewing at the end of the month.

sentiment in the $ has been stronger today and Brexit news hit the pound hard.
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  • #25
  • Mar 22, 2019 4:36am Mar 22, 2019 4:36am
Bad German data this morning sent the Euro south. Yen gained on the news and with the Fed's dovish data out recently, the Dollar doesn't have a lot going for it at the moment. Yields were dropping as money flowed into treasuries. There was my setup this morning and I took a long gold position with a target at the highs
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  • #26
  • Mar 22, 2019 6:10am Mar 22, 2019 6:10am
booked profit - price just sitting there and I am not happy hanging around so booked 20 pips
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  • #27
  • Mar 23, 2019 1:19pm Mar 23, 2019 1:19pm
I am suscribed to this thread! I have been trading with technicals for some years but only on demo.. I have recently started live trading. Being kinda profitable but not as desired. I would like to start getting involved with some fundamentals, altho its is not my strength. I want to learn properly but I really dont know where to start and there is hard to find good information in Spanish (mother language)

Would you mind giving a basic and short explanation on how you do your analysis and how you get the sentiment for currencies? Also where do you find that Currency mover vs usd chart??

I know I might be asking a baby spoon here (if its the correct term), I really want to study fundamentals, but I am struggling a bit.

I will be forever thankful.

(I am learning the fundamental language since its probably my main reason of getting confused)

Regards,
Guillermo.
  • #28
  • Mar 25, 2019 3:21am Mar 25, 2019 3:21am
Quoting guiyee
I am suscribed to this thread! I have been trading with technicals for some years but only on demo.. I have recently started live trading. Being kinda profitable but not as desired. I would like to start getting involved with some fundamentals, altho its is not my strength. I want to learn properly but I really dont know where to start and there is hard to find good information in Spanish (mother language) Would you mind giving a basic and short explanation on how you do your analysis and how you get the sentiment for currencies? Also where do you...
have a read here to get an idea of how it is done

https://www.forexfactory.com/showthr...1#post12144901
  • #29
  • Mar 25, 2019 3:41am Mar 25, 2019 3:41am
Long NOK

info on chart
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  • #30
  • Mar 25, 2019 4:14am Mar 25, 2019 4:14am
out +30
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  • #31
  • Mar 25, 2019 9:14am Mar 25, 2019 9:14am
global concerns about growth have returned and the market is very nervous. Bought a a technical breakout of gold to coincide with market sentiment
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  • #32
  • Mar 25, 2019 9:24am Mar 25, 2019 9:24am
out +20
That's me done for the day
  • #33
  • Mar 25, 2019 9:34am Mar 25, 2019 9:34am
Quoting EcoTrader
global concerns about growth have returned and the market is very nervous. Bought a a technical breakout of gold to coincide with market sentiment {image}
Thanks for your replay Eco! I just posted something on a thread where you participate. There is a discussion of technicals vs fundamentals as usual, but I posted my technical approach. I trade on the Daily chart and I would like to add some fundamentals to it.

What kind of fundamental Analysis do you recomend for Daily chart trades that might take 1 day to 1 week for profit?

By the way I am going to start studying right now all the things you mentioned.. Starting from understanding Central banks statements, monetary policies, interest rates, inflation, cpi, etc... Then I will take that small course from UDEMY for having a better interpretation of the NEWS. I am really liking this approach of yours in this thread!

Keep on the good work!!

Regards,
Guillermo
  • #34
  • Mar 25, 2019 9:57am Mar 25, 2019 9:57am
Quoting guiyee
{quote} Thanks for your replay Eco! I just posted something on a thread where you participate. There is a discussion of technicals vs fundamentals as usual, but I posted my technical approach. I trade on the Daily chart and I would like to add some fundamentals to it. What kind of fundamental Analysis do you recomend for Daily chart trades that might take 1 day to 1 week for profit? By the way I am going to start studying right now all the things you mentioned.. Starting from understanding Central banks statements, monetary policies, interest rates,...
Start with the central bank and go from there. It might seem overwhelming but it isn't once you cross reference things you don't understand. It took me 3 months to start seeing a major shift in my trading. I was a losing trader when i started and now hit 10% or more a month without a problem, in fact, i just hit 10% today for the month and have the rest if the week still available to add to it.
  • #35
  • Mar 25, 2019 11:22am Mar 25, 2019 11:22am
Quoting guiyee
{quote} . What kind of fundamental Analysis do you recomend for Daily chart trades that might take 1 day to 1 week for profit?
Interest rate path. You don't need to research much for this either. Look at central bank forecasts and read their statements. Replied about this in the other thread which i am sure you have read
  • #36
  • Mar 25, 2019 12:05pm Mar 25, 2019 12:05pm
Quoting EcoTrader
{quote} Interest rate path. You don't need to research much for this either. Look at central bank forecasts and read their statements. Replied about this in the other thread which i am sure you have read
Yes I have read it. Thanks for replying!
I will start studying this and see if I can have and idea of which currency is stronger or should be stronger than other. Hopefully I can apply it well to my trading and lower my margin error.
Where did you get that graph that shows the funds rate compared to US dollar?

On the other hand, I have already started studying the UDEMY course about news that you suggested on the other thread. I am finding it very interesting. Never thought of approaching the market this way.
I hope to contribute to this thread soon!!
  • #37
  • Mar 25, 2019 12:16pm Mar 25, 2019 12:16pm
Quoting guiyee
{quote} Yes I have read it. Thanks for replying! I will start studying this and see if I can have and idea of which currency is stronger or should be stronger than other. Hopefully I can apply it well to my trading and lower my margin error. Where did you get that graph that shows the funds rate compared to US dollar? On the other hand, I have already started studying the UDEMY course about news that you suggested on the other thread. I am finding it very interesting. Never thought of approaching the market this way. I hope to contribute to this...
The image is from the tradingeconomics site. That course, and the way I trade in general, is intraday so might not be suitable to your general approach
  • #38
  • Mar 25, 2019 12:50pm Mar 25, 2019 12:50pm
Quoting EcoTrader
{quote} The image is from the tradingeconomics site. That course, and the way I trade in general, is intraday so might not be suitable to your general approach
I know, I won't interfiere the thread with my trading. I am just open to different views and approaches since I have been Live trading for the last 6 months only. Demo trading for longer tho. But I can't really know if I am going to be able to be profitable on the long run. So I am always willing to learn new things.
I am finding very interesting how you manage to trade with fundamentals and interpreting the news from the economic calendar. Also, you explain your reasoning behind your trades so I find it very helpful to learn this approach of yours.
  • #39
  • Mar 25, 2019 1:04pm Mar 25, 2019 1:04pm
Quoting guiyee
{quote} I know, I won't interfiere the thread with my trading. I am just open to different views and approaches since I have been Live trading for the last 6 months only. Demo trading for longer tho. But I can't really know if I am going to be able to be profitable on the long run. So I am always willing to learn new things. I am finding very interesting how you manage to trade with fundamentals and interpreting the news from the economic calendar. Also, you explain your reasoning behind your trades so I find it very helpful to learn this approach...
Dynamic money management. It is the best strategy any trader can adopt. News flow gets you into a trade but can't get you out of one unless the news is overlapping and contradictory. Stay away from grid or martingale strategies and risk reward is also flawed. The market flows according to news flow and sentiment ebbs and flows. In this environment anything rigid that doesn't take cue from the market will at best be suboptimal, for the rest it will kill their accounts.

Trade after trade i exit at a level where price turns. The few occasions it doesn't (where it carries on ) is not important because i am targeting the many over the few (the exact opposite to risk reward strategies that target the few over the many)
  • #40
  • Mar 25, 2019 1:09pm Mar 25, 2019 1:09pm
The fed interest rate and china goods. Interesting...
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