BRV, Iron-Man or anyone
While I have been trading this method I’ve noticed that news often comes out pushing price right up/down to my limit order (often to the pip) and then reverse creating a very profitable trade.
I am not at my charts all day to monitor news ect and if I had removed my limit orders due to news I would have missed many great trades.
Do you think this is just luck or is this often the case? Do you always remove limit orders during news or does it depend on the type of news?
It might be worth pointing out that I only take very high No Brainers and nothing much in between, I can understand the need to watch the news when trading the lower time frames as price could bust them far easier.
One other thing, Even though I have traded the forex markets for a couple of years I am still very lacking in the fundamental aspects of the game, I feel a bit like a fisherman who catches fish but has no idea what type of fish they are.. After reading allot of what BRV has said about the markets I have realised that I have to further my knowledge in this area if i want to succeed long term but I struggle to understand little if anything of what i read and I find it even harder to put that data into my trading decisions.
Any advice on these questions is greatly appreciated
While I have been trading this method I’ve noticed that news often comes out pushing price right up/down to my limit order (often to the pip) and then reverse creating a very profitable trade.
I am not at my charts all day to monitor news ect and if I had removed my limit orders due to news I would have missed many great trades.
Do you think this is just luck or is this often the case? Do you always remove limit orders during news or does it depend on the type of news?
It might be worth pointing out that I only take very high No Brainers and nothing much in between, I can understand the need to watch the news when trading the lower time frames as price could bust them far easier.
One other thing, Even though I have traded the forex markets for a couple of years I am still very lacking in the fundamental aspects of the game, I feel a bit like a fisherman who catches fish but has no idea what type of fish they are.. After reading allot of what BRV has said about the markets I have realised that I have to further my knowledge in this area if i want to succeed long term but I struggle to understand little if anything of what i read and I find it even harder to put that data into my trading decisions.
Any advice on these questions is greatly appreciated