Disliked{quote} Do you also trade medium impact news or just high impact?Ignored
1
- #223
- Edited 1:41am Jul 8, 2019 1:25am | Edited 1:41am
- | Commercial User | Joined Jan 2017 | 1,389 Posts
- #224
- Edited 1:44am Jul 8, 2019 1:34am | Edited 1:44am
- | Commercial User | Joined Jan 2017 | 1,389 Posts
Hi risk trade alert (swing trade) Turkey sacked its central bank governor and replaced him with his deputy who is known for being dovish. Currently, rates are 24% so rollover costs are not cheap and the spread is also a dog's arse. Now we know they are going to cut as the government is now seemingly forcing the central bank's hand and the market is looking at hundreds of basis point cut. The next meeting I believe is around the 25 of July and price is currently 5.7. Just note this is a very high risk trade but the drivers for it to move in our favour...
I agree with you for the most part... but anyway, a valid "proof" is always welcome, encouraging and could even be inspirational.
The best overall retail brokers that I know, are both from Oceanía: Global Prime (Australia) and FXPig (New Zealand). They are true A-Book STP/DMA/ECN brokers, and don't "freeze" their platforms during news events, but the spreads and slippage almost always tend to increase, mostly due to their liquidity providers.
Thanks for your input!
{quote} Hi Viktory I am not an educator, its not my business model or vision. I am a data vendor bringing together central bank research, market data, and news feeds and will be primarily for traders that know what they are doing but want the convenience of having the information they use to trade at hand, without needing to research to the extent they would otherwise. What I offer for free on the educational side is a set of guidelines that help people find trading opportunities. It isn't a red light green light process that can be replicated and...
I know being an educator it's not your main purpose, but besides being a "data facilitator", but saying this:
I will teach people how to source this info on their own and trade it successfully so when you learn how to do this you can be completely self-sufficient. The subscription side of things was only ever intended to be a convenience factor saving traders the headache of spending hours each week researching this stuff and being prepared to spend a little money for the convenience of having someone else do it for them.
And I perfectly understand everything else you said. Thanks for your detailed explanation (of course it's more than what I expected
).BTW:
Years ago, I used to trade spikes caused by news releases with OCO/brackets and auto-clickers, until it became risky and inconsistent due to spreads widening and slippage among all kinds of both "A & B Book" retail brokers. What do you think about this kind of "strategies" nowadays?
- #229
- Edited 11:32pm Jul 8, 2019 11:15pm | Edited 11:32pm
- | Commercial User | Joined Jan 2017 | 1,389 Posts
If the trades I show on this thread, my site, or my previous threads aren't enough, or if seeing it for yourself in real-time when these events happen isn't enough, then perhaps this isn't for you Viktory and moving on might be the best way forward. I mean no disrespect, but every week news are released that offer trading opportunities, and I explain those trades on the site and in this thread. You don't need to see an account to see that it works and you can research every historical trade as well.
Now, pardon me for repeating myself for the third time in a row, but I'd really like to know your opinion about this:
"Years ago, I used to trade spikes caused by news releases with OCO/brackets and auto-clickers, until it became risky and inconsistent due to spreads widening and slippage among all kinds of both "A & B Book" retail brokers. What do you think about this kind of "strategies" nowadays?"
- #231
- Edited 1:23am Jul 9, 2019 1:11am | Edited 1:23am
- | Commercial User | Joined Jan 2017 | 1,389 Posts
- #232
- Edited 2:13am Jul 9, 2019 2:00am | Edited 2:13am
{quote} Years ago, brokers used to widen spreads significantly and slippage was bad and some brokers are still bad because they are either a bucket shop or have too few liquidity providers. You have to shop around to find a professional broker where slippage is minimal and spreads aren't widened to an extent that it makes trading the event difficult. That aside, I think a strategy that sets a buy\sell OCO orders on news is doomed to fail. There is another thread on this commercial category (https://www.forexfactory.com/showthread.php?t=930576)...
Aside from OCO-brackets, what do you think of spike auto-clickers (triggered by volatility just in one direction) within "proper" brokers?
Although maybe a little better, I suppose it's practically the same case, right?
And also apart from that, do you know something about this free "service"?:
https://www.forexpeacearmy.com/commu...ng-signals.19/
https://www.forexpeacearmy.com/commu...signals.49883/
(Planned/reaction directional continuation trades just after the news, based on general somewhat proven statistics).
- #233
- Jul 9, 2019 3:05am Jul 9, 2019 3:05am
- | Commercial User | Joined Jan 2017 | 1,389 Posts
{quote} Thanks again for your kind reply
- #234
- Jul 9, 2019 5:34am Jul 9, 2019 5:34am
- | Membership Revoked | Joined Jul 2020 | 7,294 Posts
Closed this trade.
{quote} There is definite value in triggers that can execute a trade for you but they need to be able to properly decide on the outcome and to do that you need to be able to configure various outcomes to trade. If you can only configure a buy and sell based on just looking at one thing then it is just an automated version of lazy trading the news. I can't comment on those services quality. By the looks of it, they trigger a trade after a spike and on a pullback. This to me seems a bit better than an OCO strategy but it also isn't ideal as the market...
