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NFP Analysis-There's A Lot Below the Numbers

  • #21
  • Nov 4, 2006 6:49pm Nov 4, 2006 6:49pm
Rob Booker suggests not trading at all during major news releases. I think he's doing pretty well; so I follow that advice.
JIM
  • #22
  • Nov 4, 2006 7:05pm Nov 4, 2006 7:05pm
Quoting jimyland
Rob Booker suggests not trading at all during major news releases. I think he's doing pretty well; so I follow that advice.
JIM
Hey people! I doubled my money every two months doing TA and no News! Dont trade News anymore and follow me!

And while you are all out of the news trading floor, now I can trade news all for myself.
  • #23
  • Nov 4, 2006 7:14pm Nov 4, 2006 7:14pm
Quoting jimyland
Rob Booker suggests not trading at all during major news releases. I think he's doing pretty well; so I follow that advice.
JIM
I think BurgerKing is doing well, so I'm going to trade the news. No. I won't. Don't believe everything you read on the internet.

By the way, this is not saying that Rob isn't doing well, nor is it saying that Burger isn't doing well. It is simply to make people question stuff before they believe it, and even more before they act on it.

Also, very interesting thread Newstrader.
  • #24
  • Nov 4, 2006 7:17pm Nov 4, 2006 7:17pm
Quoting jimyland
Rob Booker suggests not trading at all during major news releases. I think he's doing pretty well; so I follow that advice.
JIM

Fair enough if this is what you choose to do.
But news trading can be the biggest source of income in forex. No wonder that banks/brokers create all sort of obstacles for news traders. And some other gurus discourage it as it wouldn't sell their books anymore. Sure, news trading can generate losses. But with a stop loss, even in a whipsaw you can come out a winner like in the last NFP where the long straddle produced a loss and the short straddle was a win that covered the loss plus some profits.
No guarantees that this will happen every time though.
  • #25
  • Nov 4, 2006 8:09pm Nov 4, 2006 8:09pm
The initial moves were fast and furious but why try and jump in so early? You'll have plenty of time to jump into the middle of the ride...
  • #26
  • Nov 5, 2006 10:06am Nov 5, 2006 10:06am
I keep saying this because people are talking about it and it's so worth repeating:

There was plenty of time to listen to palin old BB radio, 1130 on the AM dail here in NYC and make a trade that could have gotten you anywhere between 20-50 pips. I've done it before and I did it this time as well.
  • #27
  • Nov 5, 2006 10:40am Nov 5, 2006 10:40am
Quoting twinchell
I think BurgerKing is doing well, so I'm going to trade the news. No. I won't. Don't believe everything you read on the internet.

By the way, this is not saying that Rob isn't doing well, nor is it saying that Burger isn't doing well. It is simply to make people question stuff before they believe it, and even more before they act on it.

Also, very interesting thread Newstrader.
You hit the nail on the head with that one. Go to any self-proclaimed guru (like Rob) and ask for proof that they trade forex successfully (I have). The answer is always the same: "No". I have yet to see a shred of evidence to support that these gurus support themselves on anything other than selling their courses/motivation tapes/seminars/etc etc.
Chance favors the prepared
  • #28
  • Nov 5, 2006 11:55am Nov 5, 2006 11:55am
I just don't see how that works-especially when a whipsaw occurs:

Take last friday's NFP-long trade is good at first-then reverses until your stop gets hit with a loss

Short trade probably got stopped out at first-then ur not in it anymore, or have to try and get back in....
  • #29
  • Nov 5, 2006 12:11pm Nov 5, 2006 12:11pm
How do u deal with requotes. What broker gives u in and out that quickly during annoncements??



Quoting PipRipper
If you are talking to me, it works because you take small gains fast. The price spikes long and stalls.. YOU EXIT IMMEDIATELY. You do not think. You do not hesistate. You only have one or 2 seconds to react. You exit screen is preloaded. You click exit and rip the pips that are there.

Then the price drops. You already have your entry screen preload at your horizontal price target. You click to enter. When the price stalls, you click to exit. Once again, you take what is there. You make more money in minutes than what the banks pay you in interest in a year.
  • #30
  • Last Post: Nov 5, 2006 2:24pm Nov 5, 2006 2:24pm
Quoting PipRipper
Requotes? You must be dealing with the devil.

I have seen people banned for posting what brokers they recommend. I am new here. I am not part of the "in" crowd. If you want more info, you can find a way to contact me. Not trying to be rude or difficult but just being careful.
You can always register again if they close you out

A no! I forgot ! They get your computer mac address when you register !!
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