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I lost everything! 😭

  • #41
  • Jun 10, 2024 8:57am Jun 10, 2024 8:57am
Quoting Luciel1
speechless ... you try straddle the news ? why at hi time time frame ? ok you still look ok , after the burn {quote}
These big moves that happen in the market offer opportunity. I just tried to take an advantage of it. Time frame doesn't matter much in this case, you just need to know what you are doing.

I am OK. I just lost 20 USD. It is not much. But if my trade was successful I could profit 90 USD (far beyond my expectations).
  • #42
  • Jun 10, 2024 9:01am Jun 10, 2024 9:01am
Quoting BlueKnight
{quote} These big moves that happen in the market offer opportunity. I just tried to take an advantage of it. Time frame doesn't matter much in this case, you just need to know what you are doing. I am OK. I just lost 20 USD. It is not much. But if my trade was successful I could profit 90 USD (far beyond my expectations).
Only now I am seeing I risked far beyond I should. A 0.15 lot position would take approximately 93 pips to wipe my account. I had no idea I risked that much when I placed the orders. It should be much less than that.
  • #43
  • Jun 10, 2024 7:00pm Jun 10, 2024 7:00pm
Sorry for your loss but according to your profile, you have been trading for 13 years now, you should have known better. Trading without a stop loss is such a rookie mistake that most people come to learn in their first couple of weeks.
From what you've written, it sounds like the spread widened due to the news and this activated your buy order. Most traders after a few months would be aware of stuff like this too.

Also it sounds like you may have been over leveraging too. Yes price moved over 200 pips.. but if you were risking 1 or 2% of your account in that trade I'd be willing to guess you wouldn't have got margin called. Yes.. it might of been painful... but probably under 20% of the account lost.

Anyways despite the mauling on friday , you live to fight another day. The one thing you did actually do right was to not put all your life savings in that account and only use money you can afford to lose ..so good luck on the next account.
  • #44
  • Jun 10, 2024 7:39pm Jun 10, 2024 7:39pm
Quoting kain775
Sorry for your loss but according to your profile, you have been trading for 13 years now, you should have known better. Trading without a stop loss is such a rookie mistake that most people come to learn in their first couple of weeks. From what you've written, it sounds like the spread widened due to the news and this activated your buy order. Most traders after a few months would be aware of stuff like this too. Also it sounds like you may have been over leveraging too. Yes price moved over 200 pips.. but if you were risking 1 or 2% of your account...
My first contact with Forex was in 2011. It does not mean I have been dedicated to trading since 2011. I spent years out of trading. I started to put some effort into this just recently.

As for live trading, I am not crazy to put big money before I have a solid performance on a demo account first. But I confess it is tempting to trade live when you do well in demo. But when your live experience fails you know you have more to learn. Patience is needed.
  • #45
  • Jun 10, 2024 8:37pm Jun 10, 2024 8:37pm
Yeap , you need to know what time frame to get the opportunities to flip 20 to 90 ... but still 350 % a trade is chump change , seen a guy doing 500 to 85k a month , 1 st ask him where and how he did it , he said micro time frame ....

Quoting BlueKnight
{quote} These big moves that happen in the market offer opportunity. I just tried to take an advantage of it. Time frame doesn't matter much in this case, you just need to know what you are doing. I am OK. I just lost 20 USD. It is not much. But if my trade was successful I could profit 90 USD (far beyond my expectations).
  • #46
  • Jun 11, 2024 3:12am Jun 11, 2024 3:12am
High volatility demands that we go up the higher time frame/use smaller position sizing in order to survive these news events whiplashes. Some brokers even have absurd spreads that other brokers don't experience and they would just call it liquidity issues and they will be technically right. There is nothing much we can do about it.

I have compared chart by chart between different brokers during news when one specific broker's spread ran off by 120 pips compared to others during an aussie rate announcement and still my broker would not acknowledge it was just them.

In such high volatility events, if your position is right, sure. your profits can skyrocket but these moves could easily reverse within minutes, so either use a trailing stop loss or take partial profits to get ready for such movements. And if your position is wrong, to begin with, make sure that position sizing was at least half of usual to account for the spreads/volatility so it doesn't drain our account that badly.

Just note that professionals would call it gambling because technical analysis goes out the window during these news events. Sure, on our part we deem it a calculated risk in terms of profit risk ratio but remember, news trading is about surfing the volatility, no longer about technical analysis for that half a day or so. If we cannot survive the spreads, there is no point talking about the PRR.
  • #47
  • Edited 11:32am Jun 11, 2024 9:46am | Edited 11:32am
Quoting Bullseye Jem
High volatility demands that we go up the higher time frame/use smaller position sizing in order to survive these news events whiplashes. Some brokers even have absurd spreads that other brokers don't experience and they would just call it liquidity issues and they will be technically right. There is nothing much we can do about it. I have compared chart by chart between different brokers during news when one specific broker's spread ran off by 120 pips compared to others during an aussie rate announcement and still my broker would not acknowledge...
The floating spread really is a problem. I can clearly see that when the market is at opening and closing hours, the spread increases 10x or higher. My mistake was to think that wouldn't happen during news; and it happens. Lesson learned.

Maybe if I try a fixed spread broker that claims no change in spread during news is the way to go? Or they lie about it? I don't mind paying higher spreads or even commissions. But I need a guaranteed margin so I can better plan my trades accordingly.

Thank you!
  • #48
  • Jun 11, 2024 1:54pm Jun 11, 2024 1:54pm
Well dear ... not showing to you how to trade ... , every things you see and think in your chart is TECHNICAL ANALIZE , entry point , Where ? sl where , tp where , thats is the most microminimum of TA in your chart you are living breathing rubbing yourself . unlesss use back door to trade .

these a picture of a long lasting Forex factory news trader id vvFish look at it good
IF you can learn 1 or 2 thinggy of where , what and how he execute his news trading arsenal

trade safe trade well
Attached Image (click to enlarge)
Click to Enlarge Name: VVFISH news trader.png Size: 18 KB
  • #49
  • Jun 11, 2024 6:33pm Jun 11, 2024 6:33pm
Quoting Erebus
{quote} You should follow me I'll take a look, thanks, {quote} I love Sell Stop and Buy Stop Orders, take a look, no clue about direction here. {image} {image} {image}
bro!!! Can you share this strategy? Thank you so much!!!
  • #50
  • Jun 11, 2024 7:37pm Jun 11, 2024 7:37pm
Quoting nguyenoni
{quote} bro!!! Can you share this strategy? Thank you so much!!!
Damn, I thought I did...

Read again.

It takes a lot for me to IGNORE you, but you can try.
  • #51
  • Jun 11, 2024 8:48pm Jun 11, 2024 8:48pm
Quoting BlueKnight
OK, this time I had the great idea to trade news after a successful experience on a demo account yesterday. But it went bad, very bad. I did not expect the market to react so aggressively. The volatility was so high that it (unexpectedly) activated one buy position before the big drop. Unfortunately, I did not have enough capital to sustain it. If it was not because of this I would end up in profit (or not). It all happened in one second. Experience for next time. Fortunately, I lost what I could afford to lose. ...

Today Jun12 with FOMC you get another shot at making some money and recover your loss,

Attached Image (click to enlarge)
Click to Enlarge Name: FF Cal Jun12 FOMC 12-6-2024 9-42-21 am.png Size: 19 KB



..
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #52
  • Jun 11, 2024 11:19pm Jun 11, 2024 11:19pm
A member here used to have the best EA for news, not sure if it is still supported.

But simply reading the thread in the posts, you will absorb much information about how to trade news releases.

And if you study the settings of the EA, even better.

https://www.forexfactory.com/thread/...expert-advisor

Good Luck
It takes a lot for me to IGNORE you, but you can try.
  • #53
  • Jun 12, 2024 2:07am Jun 12, 2024 2:07am
Quoting BlueKnight
OK, this time I had the great idea to trade news after a successful experience on a demo account yesterday. But it went bad, very bad. I did not expect the market to react so aggressively. The volatility was so high that it (unexpectedly) activated one buy position before the big drop. Unfortunately, I did not have enough capital to sustain it. If it was not because of this I would end up in profit (or not). It all happened in one second. Experience for next time. Fortunately, I lost what I could afford to lose. ...
You need to add ROI indicator on your chart, that's a good way to know if you have a support/resistance, if you see the chart, you can make a box on mt4, double Higher/Higher on two candles and of course, you need a overall direction of the trend (100 EMA on M15). If you gonna trade and lose money, go to FTMO and make the challenges, then you gonna have a 0% risk Propfirm without loading your money.

Chersssssss!!!!
  • #54
  • Jun 12, 2024 8:48am Jun 12, 2024 8:48am
OK, this time I traded on demo and another unexpected thing happened. Fortunately, I wasn't trading live this time.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDM30.png Size: 11 KB

Please, help me understand what happened here (this is MT4 log):

Orders placing time:
Inserted Code
2024.06.12 09:28:38.854    '79115395': pending order sell stop 3.50 EURUSD at 1.07594 sl: 1.07694 tp: 1.07494
2024.06.12 09:28:39.291    '79115395': order was opened : #195456238 sell stop 3.50 EURUSD at 1.07594 sl: 1.07694 tp: 1.07494
2024.06.12 09:28:39.323    '79115395': pending order buy stop 3.50 EURUSD at 1.07734 sl: 1.07634 tp: 1.07834
2024.06.12 09:28:39.760    '79115395': order was opened : #195456240 buy stop 3.50 EURUSD at 1.07734 sl: 1.07634 tp: 1.07834
Order activation time:
Inserted Code
2024.06.12 09:30:02.838    '79115395': order #195456240 buy stop 3.50 EURUSD at 1.07734 activated at price 1.07902
Order closing time:
Inserted Code
2024.06.12 09:30:03.995    '79115395': order #195456240 buy 3.50 EURUSD at 1.07902 closed due take-profit at price 1.07752

I had two pending orders. And this time only the desired order (buy) was activated. ️ But I end up in loss anyway. ️

And if I understood correctly, the volatility was so high it interpreted the take profit level in a weird way, ending up in a LOSS (perhaps due to volatility). ️ And I thought the take profit was there to help me (but not in this case). ️

The demo server is XM, with floating spread (and it floated considerably during news, 50%+).
  • #55
  • Jun 12, 2024 9:52am Jun 12, 2024 9:52am
Quoting Erebus
{quote} You should follow me I'll take a look, thanks, {quote} I love Sell Stop and Buy Stop Orders, take a look, no clue about direction here. {image} {image} {image}
Dear Erebus,

Thank you very much for that impressive post! Please help us and tell us the name of that magic broker, that is executing MT4 limit orders with such precision and with 0 slippage during high impact news? Please let us know, I'll make a deposit there immediately. I tried it with a great broker called Switch Markets, however they were not able to achieve such a great execution performance like the broker who was executing the trades in your screenshot.

Thank you very much for your great work her on ForexFactory, looking forward to your reply!

With kind regards
butcher
  • #56
  • Jun 13, 2024 8:43am Jun 13, 2024 8:43am
OK, I did another test just now, on the EUR/USD. In a demo account, obviously (after all the loss it couldn't be different).

I was not expecting a big reaction from the market today, but the movement was strong enough to make a profit. And this time it was a success. I profited 10.50 USD on a 100 USD demo account:
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 6 KB

After the past bad experiences I have learned something: DO NOT set a take profit. Because it might not work as intended in such volatile market conditions and can even make a profitable trade into a loss (as experienced).

This was what I call an easy trade, and the market reaction I consider moderate. But I still have to make a profit when the spike is very aggressive, it is in such market conditions where a very significant slippage and widening of spread occurs, and your account has to survive that (apart from taking the correct position [and spread widening is your biggest enemy here as it can make you enter in the wrong position]).
  • #57
  • Jun 18, 2024 8:26am Jun 18, 2024 8:26am
I did another test just now on the EUR/USD, on a demo account. The trade took place at 15:30 (GMT+3, terminal time). Again, it was a moderate reaction (as expected); but stronger than the previous trade (as expected). And it was a success. I profited 94.50 USD on a 1000 USD demo account:
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDM30.png Size: 3 KB

And this time I have a recording for you to see how the trade was (click on the image):
Attached Image (click to enlarge)
Click to Enlarge Name: trade_eurusd_1530_m30.gif Size: 278 KB
As I said, I still have to test this when the market reaction is very aggressive. But for moderate market reaction it is working well.
  • #58
  • Jun 19, 2024 9:28am Jun 19, 2024 9:28am
Success on a demo account does not guarantee success on a real account, but from the story shared, it seems that he did not place a stop loss. To mitigate risk, stop loss is one of the easiest ways to adjust risk tolerance.
I trade at FXOpen
  • #59
  • Jun 19, 2024 6:31pm Jun 19, 2024 6:31pm
I did one more test just now, this time on the NZD/USD pair. It is the first time I try this on a currency pair other than EUR/USD. And it was a success. The market reaction was moderate again, but weaker than the last two trades. And I profited 7.72 USD on a 110 USD demo account (including 10 USD profit from previous trade):
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 3 KB

I say manual take profit, but in reality it is all done by a script. I could place orders and take profit by hand, but using a script is much more convenient as it does all the required "calculation".
And keep in mind I could profit more in each trade. I am using the lowest risk settings, and it still is quite profitable. And there is still room for reducing the risk/reward ratio, so you need fewer successful trades on average to remain profitable.
  • #60
  • Edited 8:49pm Jun 19, 2024 6:40pm | Edited 8:49pm
Quoting fxtimur
Success on a demo account does not guarantee success on a real account, but from the story shared, it seems that he did not place a stop loss. To mitigate risk, stop loss is one of the easiest ways to adjust risk tolerance.
I know, but it all starts on demo.

I am not using stop loss because the probability of the market going to both directions are very low. But if it does happen, there is a pending order on the other side, and it might be executed. But I am risking everything in the trade, the stop loss is the margin call and stop out.

Edit:
I know this is not optimal. Risking 100% is insane. But a stop loss may be set at 30% (or even lower) if you desire. But I still need to test this.

Edit #2:
I do not recommend setting conventional (server side, MT4 way) take profit and stop loss. Because the price fluctuation in such volatile market conditions may hit your stop and/or take profit level for a very small amount of time before the price reaches the stabilization point.

And when it happens the price changes so quickly it may close your position at the unintended price. What I mean is: By setting a stop loss and a take profit by the conventional way you are risking closing your position when the price is volatile (i.e. not stabilized).

So the stop and take profit may be triggered because of a condition that was only true for a fraction of a second or less.
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