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Scalping economic news, testimonials?

  • #1
  • First Post: Oct 28, 2022 6:42pm Oct 28, 2022 6:42pm
Hello,
I am getting very good profit scalping red economic news.
Most of the time I set buy stop/sell stop at some levels, then if triggered, I manage profit the best I can (try to BE entry and maximize).
If the trade is going red, I cut loss early.
My enemy is mostly slippage that happens. For now I only had slippage when I tried on a non-major pair like EURAUD, it slipped much. Now I concentrate on majors. For now not too much slippage but I guess it will happen...
I wonder if some had experience trading the economic news, if we could exchange regarding this. I think it is very profitable.
Thank you for your help.
  • #2
  • Nov 1, 2022 5:08am Nov 1, 2022 5:08am
Hello, what time frames do you use? I use the 1-15 min time frame's when I scalp. With news trades I set pending's on either the 1 or 5 min frames. Yes, it's a good idea to stick with major's, the spreads are too high with exotics. I really like trading AU, the spread is thin and occasionally I trade GBP pairs.
  • #3
  • Nov 3, 2022 9:22pm Nov 3, 2022 9:22pm
Quoting elvis1
Hello, I am getting very good profit scalping red economic news. Most of the time I set buy stop/sell stop at some levels, then if triggered, I manage profit the best I can (try to BE entry and maximize). If the trade is going red, I cut loss early. My enemy is mostly slippage that happens. For now I only had slippage when I tried on a non-major pair like EURAUD, it slipped much. Now I concentrate on majors. For now not too much slippage but I guess it will happen... I wonder if some had experience trading the economic news, if we could exchange...
Yes, I see pending order is such a popular strategy on high impact news; but till now I completely avoid news trading since, the market reacts so fast during the high impact news time! On the other hand sometimes market shakes in the both sides, so it can be dangerous too!
  • #4
  • Nov 4, 2022 1:13am Nov 4, 2022 1:13am
it's too risky. Price movement based on supply and demand flow just it.
  • #5
  • Nov 6, 2022 4:26am Nov 6, 2022 4:26am
If you place pending orders like Buy Stop/Sell Stop right before the news, the price movement can trigger both orders because of volatility and huge spread. And if you set up Stop Loss fro both trades, than you can have two trades closed by Stop Loss.
  • #6
  • Nov 19, 2022 8:09am Nov 19, 2022 8:09am
I have recently started trading the US30 (and pretty much nothing else) at the US open but have found trading the US news very profitable.
I trade/scalp the 5min chart and never use a stop loss.
I usually trade just the one candle and on big news I can often trade it up and down many times (in and out in seconds) for some nice healthy profits, probably a very risky strategy but I'm new and still have lots to learn.
  • #7
  • Dec 8, 2022 6:53am Dec 8, 2022 6:53am
Quoting elvis1
Hello, I am getting very good profit scalping red economic news. Most of the time I set buy stop/sell stop at some levels, then if triggered, I manage profit the best I can (try to BE entry and maximize). If the trade is going red, I cut loss early. My enemy is mostly slippage that happens. For now I only had slippage when I tried on a non-major pair like EURAUD, it slipped much. Now I concentrate on majors. For now not too much slippage but I guess it will happen... I wonder if some had experience trading the economic news, if we could exchange...
I scalp trade the news on US30, check my trade explorer to see how I've done the last 3wks.
  • #8
  • Dec 9, 2022 3:55am Dec 9, 2022 3:55am
Quoting kamyab1996
it's too risky. Price movement based on supply and demand flow just it.

I have the response; basically this type of setup works for 3-4 times; but in a long run we need to understand the whole context!
  • #9
  • Last Post: Dec 10, 2022 9:44am Dec 10, 2022 9:44am
I trade news, there are also many EA that set pending orders right before news and when it gets triggered it starts trailing. Sometime the problem is that even though you are in profit the broker closes your trade at loss. It hapened to me on few occasions. Last time I was about 200$ in profit and they closed my trade at loss. When I asked why they replied that the liquidity price at my closure to fill the order was much worse and the LP filled it at that price... So be careful trading big lots with this strategy!
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