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  • #1,181,741
  • Sep 1, 2020 8:44pm Sep 1, 2020 8:44pm
Quoting VuLe
{quote} nope.. you will see people say this all the time.. ”The fkn new is green number, positive... why is it dropping?!?! Isnt it suppose to go up???” if numbers on forex factory are easily to follow and trade... everyone would trade respectively to in and we would all be winners... then there wont be any loser.. so who is losing??
its not that simple....green numbers don't mean its supposed to go up....usually do; but you have to understand the bigger picture and how those numbers will affect sentiment on that currency...your right its not just that easy to trade you have to understand much more.
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  • #1,181,742
  • Sep 1, 2020 8:45pm Sep 1, 2020 8:45pm
Quoting Techanalyst
{quote} We as retail traders, need to stay away from news trading. Stick to technical analysis and use your strategies. Take everything into consideration but don't buy/sell base on everything especially news. News is reaction. That's it. Imbalances between buyers and sellers or in supply and demand cause price changes in FX markets. If those imbalances persist, then they can form either an upward or downward trend. The Bottom Line: The forex market is ultimately driven by economic factors that impact the value and strength of a nation's currency....

Yup... to me news will help move the market where it needs to be... I like news trading because I anticipate the movement and the spike to make the quick money.... in and out... I already expect aud gdp to not run because I skim through their last 4 news on gdp... June 2, march, 3 December 3.
10-15pip movement. So if no jump, Im out.
Trade what you see, take what the market gives you.
  • #1,181,743
  • Sep 1, 2020 8:49pm Sep 1, 2020 8:49pm
Quoting Techanalyst
{quote} We as retail traders, need to stay away from news trading. Stick to technical analysis and use your strategies. Take everything into consideration but don't buy/sell base on everything especially news. News is reaction. That's it. Imbalances between buyers and sellers or in supply and demand cause price changes in FX markets. If those imbalances persist, then they can form either an upward or downward trend. The Bottom Line: The forex market is ultimately driven by economic factors that impact the value and strength of a nation's currency....
I don't know what you mean by stay away. I use it, as I just did. I think its important to understand how these things tie into the economy and how they affect perceived value of a currency.

Best to understand it....I wouldnt trade news alone but would want to know how it may move market especially if i am in it or take take advantage from it

EDIT: long term retail usually gets by with technical....but you should know how news events will/possibly move markets
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  • #1,181,744
  • Sep 1, 2020 8:51pm Sep 1, 2020 8:51pm
It is tempting to sell EURUSD, but I will stick with the trend from the Daily. I have learned the hard way not to trade against a strong trend. Even if EURUSD goes down 200 pips, I don't care. I would rather miss the move than risk getting caught in a bear trap. At some point, the trend will resume and then I will be ready to get in. There is no need to FOMO.
Learn from your mistakes and march on.
  • #1,181,745
  • Sep 1, 2020 8:52pm Sep 1, 2020 8:52pm
Quoting mistaouting
{quote} I don't know what you mean by stay away. I use it, as I just did. I think its important to understand how these things tie into the economy and how they affect perceived value of a currency. Best to understand it....I wouldnt trade news alone but would want to know how it may move market especially if i am in it or take take advantage from it

most people are uneducated. Or prefer safor risk thats why.. for instance powell last thursday.. you saw the spike down bear trAp... shot up... back down... and then up... people get killed in between.
Trade what you see, take what the market gives you.
  • #1,181,746
  • Sep 1, 2020 8:55pm Sep 1, 2020 8:55pm
Got I quick look at the chart, spotted a nice spot to flip.
Attached Image (click to enlarge)
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Only an idiot knows with certainty to where the market is going.
  • #1,181,747
  • Sep 1, 2020 8:56pm Sep 1, 2020 8:56pm
Quoting VuLe
{quote} most people are uneducated. Or prefer safor risk thats why.. for instance powell last thursday.. you saw the spike down bear trAp... shot up... back down... and then up... people get killed in between.
yeah but they probably don't know why it went up then went back down...some do. Plus its almost like a speech what that event was he can say several different things in that time that can move the market....that not the same as the market seeing a number like GDP....things are apart of what you have to consider to your not like those people who got killed.

edit: it would be wise to know how to trade feds talking vs.. seeing numbers. some wait until the dust settles or poeple fully digest what is said...not to mention sometimes event are mostly priced in and some times not so much.....sooooo much to consider in trading which is why its not easy
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  • #1,181,748
  • Sep 1, 2020 8:58pm Sep 1, 2020 8:58pm
Quoting mistaouting
{quote} yeah but they probably don't know why it went up then went back down...some do. Plus its almost like a speech what that event was he can say several different things in that time that can move the market....that not the same as the market seeing a number like GDP....things are apart of what you have to consider to your not like those people who got killed.

I watch 0 crap about powell speech... I failed to ride it up... bc I abort my plans.. but I called for 1.1890 and sold it.. exit at the bottom and bet on it to jump up.. and break 1.1900... all through techinal read... none from watching his news or what he have to said...

I seem to trade news very well and have never listen to powell or trumps speech or follow the numbers on forexfactory. I just know if its red, Im trading it.
Trade what you see, take what the market gives you.
  • #1,181,749
  • Sep 1, 2020 8:59pm Sep 1, 2020 8:59pm
Quoting here2there
It is tempting to sell EURUSD, but I will stick with the trend from the Daily. I have learned the hard way not to trade against a strong trend. Even if EURUSD goes down 200 pips, I don't care. I would rather miss the move than risk getting caught in a bear trap. At some point, the trend will resume and then I will be ready to get in. There is no need to FOMO.
200 pips trap....

TRAP ME ALL DAY
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  • #1,181,750
  • Sep 1, 2020 9:02pm Sep 1, 2020 9:02pm
Quoting VuLe
{quote} I watch 0 crap about powell speech... I failed to ride it up... bc I abort my plans.. but I called for 1.1890 and sold it.. exit at the bottom and bet on it to jump up.. and break 1.1900... all through techinal read... none from watching his news or what he have to said... I seem to trade news very well and have never listen to powell or trumps speech or follow the numbers on forexfactory. I just know if its red, Im trading it.
You did good! Some people watched it and did the same thing.
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  • #1,181,751
  • Sep 1, 2020 9:05pm Sep 1, 2020 9:05pm
Quoting mistaouting
{quote} 200 pips trap.... TRAP ME ALL DAY
Did I say a 200 pip bear trap?

You misunderstood me.

My point is to trade against a strong trend is risky, because price can suddenly turn against you when you least expect it and trap you. In my mind, I can see it's possible that it could go down 200 pips. However, I can also see that it's possible it could violently turn against anyone who dares to go against the trend.

If you want to trade against a strong trend, then feel free to do so. But I'm not.
Learn from your mistakes and march on.
  • #1,181,752
  • Sep 1, 2020 9:06pm Sep 1, 2020 9:06pm
Quoting here2there
{quote} Did I say a 200 pip bear trap? You misunderstood me. My point is to trade against a strong trend is risky, because price can suddenly turn against you when you least expect it and trap you. In my mind, I can see it's possible that it could go down 200 pips. However, I can also see that it's possible it could violently turn against anyone who dares to go against the trend. If you want to trade against a strong trend, then feel free to do so. But I'm not.
got it! sorry buddy....your right risky to trade against trend...but what define trend?!?!
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  • #1,181,753
  • Sep 1, 2020 9:09pm Sep 1, 2020 9:09pm
Quoting mistaouting
{quote} got it! sorry buddy....your right risky to trade against trend...but what define trend?!?!
I go by what I see on the Daily.

See...

Attached Image (click to enlarge)
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Learn from your mistakes and march on.
  • #1,181,754
  • Sep 1, 2020 9:27pm Sep 1, 2020 9:27pm
Quoting mistaouting
{quote} I don't know what you mean by stay away. I use it, as I just did. I think its important to understand how these things tie into the economy and how they affect perceived value of a currency. Best to understand it....I wouldnt trade news alone but would want to know how it may move market especially if i am in it or take take advantage from it EDIT: long term retail usually gets by with technical....but you should know how news events will/possibly move markets
No one knows how news move the market and how will it happened. With the charts and supply/demand imbalances you can see it but of course it is not 100%. It is all probabilities. As for the trading news, it is pure gambling.

Trading news would be like those "trading experts" on CNBC news they talk about market, they show you charts, but when you have trading experience, you know they have no clue and they speak bunch of gibberish.
  • #1,181,755
  • Sep 1, 2020 9:39pm Sep 1, 2020 9:39pm
Quoting Techanalyst
{quote} No one knows how news move the market and how will it happened. With the charts and supply/demand imbalances you can see it but of course it is not 100%. It is all probabilities. As for the trading news, it is pure gambling.
It's all gambling... But professional gamblers use odds from facts. I think a professional gambler would have taken the bet that aud would go down with a bad GDP number.

Check out the world series of poker.... Those guys are pro gambling using mostly odds and some luck.

I'm not here to sell anyone on understanding economics and debate trading styles. Just I find it advantageous to understand all you can and that includes economics not just charts. If all I took was charts then many Banks are wasting money on put economist on payroll
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  • #1,181,756
  • Sep 1, 2020 9:41pm Sep 1, 2020 9:41pm
Quoting Techanalyst
{quote} No one knows how news move the market and how will it happened. With the charts and supply/demand imbalances you can see it but of course it is not 100%. It is all probabilities. As for the trading news, it is pure gambling. Trading news would be like those "trading experts" on CNBC news they talk about market, they show you charts, but when you have trading experience, you know they have no clue and they speak bunch of gibberish.
Some are just talking heads and some refer to professionals from different fields and expertise....
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  • #1,181,757
  • Sep 1, 2020 9:48pm Sep 1, 2020 9:48pm
Quoting mistaouting
{quote} It's all gambling... But professional gamblers use odds from facts. I think a professional gambler would have taken the bet that aud would go down with a bad GDP number. Check out the world series of poker.... Those guys are pro gambling using mostly odds and some luck. I'm not here to sell anyone on understanding economics and debate trading styles. Just I find it advantageous to understand all you can and that includes economics not just charts. If all I took was charts then many Banks are wasting money on put economist on payroll
The monthly and weekly charts I have been using to buy/sell from those imbalances worked great. Even when they had news it worked to my advantage. EURUSD bearish predicting before covid19 would work. But it worked in bullish favor, and if you look at the weekly and monthly chart, you can find supplies where the price went. For me either way it is a win/win. As for the news, I do pay attention to it, but will not gamble it because that is not what I do. I trade currencies, I do not gamble.
  • #1,181,758
  • Sep 1, 2020 10:01pm Sep 1, 2020 10:01pm
Quoting Techanalyst
{quote} The monthly and weekly charts I have been using to buy/sell from those imbalances worked great. Even when they had news it worked to my advantage. EURUSD bearish predicting before covid19 would work. But it worked in bullish favor, and if you look at the weekly and monthly chart, you can find supplies where the price went. For me either way it is a win/win. As for the news, I do pay attention to it, but will not gamble it because that is not what I do. I trade currencies, I do not gamble.
Call it what you want. But unless you never loose your gambling.
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  • #1,181,759
  • Sep 1, 2020 10:17pm Sep 1, 2020 10:17pm
Quoting mistaouting
{quote} Call it what you want. But unless you never loose your gambling.
We all have losses. It depends how big or small they are.
  • #1,181,760
  • Sep 1, 2020 10:22pm Sep 1, 2020 10:22pm
I had asked earlier also
Who are the one laying Traps for Bulls and Bears ??
PaRaM
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