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Anyone trading news here?

  • #1
  • First Post: Sep 22, 2008 10:21am Sep 22, 2008 10:21am
any good broker to recommend??

Just contacted ODL, they have fixed spread, but they do not allow news trader.
  • #2
  • Sep 22, 2008 10:45am Sep 22, 2008 10:45am
Quoting ustcer2001
any good broker to recommend??

Just contacted ODL, they have fixed spread, but they do not allow news trader.

Try forex club they do exact orders execution on news releases. It's hard to get a quote but you can place opening stop and two OCO linked to that stop. Works.
  • #3
  • Sep 22, 2008 7:18pm Sep 22, 2008 7:18pm
There's alot trade the news, but no one would share his broker.
Charting Markets into the Future...MǎҖ€¥.
  • #4
  • Sep 22, 2008 8:47pm Sep 22, 2008 8:47pm
lavatrader...what do you mean you cant get a quote? The bid and ask go blank...if thats the case I would just watch MB and use them. As far as a broker for trading the spike with the secretnewsweapon??? It took me two years and about 10 brokers to find one that finally fills on the spike and dosent widen spreads. If you can get a broker that has spreads that get normal right after news you could trade the afterspike. Forexdiamonds.com trades the after spike...I have been a member for a couple years and you can make consistant profits if you trade every trade. I wasent getting up for every trade and as you well know if you do that you will miss every goods one and hit every bad one. hope that helps some.
Founder of Day Trading Forex Live
  • #5
  • Sep 22, 2008 9:03pm Sep 22, 2008 9:03pm
Quoting MaXeY
There's alot trade the news, but no one would share his broker.
Why is that so???
  • #6
  • Sep 22, 2008 9:26pm Sep 22, 2008 9:26pm
Quoting ustcer2001
any good broker to recommend??

Just contacted ODL, they have fixed spread, but they do not allow news trader.
Why should they ?
They are a price maker who gets feeds from other sources and if they cant get quoted why should they wear the risk ?

The only way you can do it is from non price makers ie ECN's.
Even then their price feeders may widen but you have a choice of sticking your bid or offer in in hope of getting hit.

Trading news or economic data is risky stuff and what you feel maybe good can turn out bad as the market is positioned the opposite
  • #7
  • Sep 23, 2008 12:29am Sep 23, 2008 12:29am
Quoting ustcer2001
Why is that so???
they wont share there broker because if there getting fills on the spike then why would they ruin such a good thing. I wont thats for sure. If everyone goes to the same broker and starts killing them on the spike there going to start widening spreads huge, slipping you, requotes, ect. Then its ruined for everyone. Atleast thats why people that get filled on the spike are tight lipped about there broker.
Founder of Day Trading Forex Live
  • #8
  • Sep 23, 2008 12:30am Sep 23, 2008 12:30am
Quoting ustcer2001
any good broker to recommend??

Just contacted ODL, they have fixed spread, but they do not allow news trader.
Don't allow news traders, what do you mean?

If you're going to trade across volatile economic data releases then be prepared for slippage and requotes, bucketshops are kinda funny about giving money away......they don't!
  • #9
  • Sep 23, 2008 2:25am Sep 23, 2008 2:25am
Quoting lostinspace
Don't allow news traders, what do you mean?

If you're going to trade across volatile economic data releases then be prepared for slippage and requotes, bucketshops are kinda funny about giving money away......they don't!
they will terminate your account if you behave like news trader...

(open opposite positions before or during news release)
  • #10
  • Sep 23, 2008 7:58am Sep 23, 2008 7:58am
Quoting stersuhr
lavatrader...what do you mean you cant get a quote? The bid and ask go blank...if thats the case I would just watch MB and use them. As far as a broker for trading the spike with the secretnewsweapon??? It took me two years and about 10 brokers to find one that finally fills on the spike and dosent widen spreads. If you can get a broker that has spreads that get normal right after news you could trade the afterspike. Forexdiamonds.com trades the after spike...I have been a member for a couple years and you can make consistant profits if you trade every trade. I wasent getting up for every trade and as you well know if you do that you will miss every goods one and hit every bad one. hope that helps some.
That's what I was trying to say. They have fixed spread and price freeze for 4 seconds. But, right after the news, let's say every first friday of the month at 8:30:10 am EST it might be hard to jump in using a simple market order but if you placed opening stop before that time, you'll be filled at exact price in your order! So, you can set a strategy there. For example:
Current market is 1.4140. You placing a set of contingency orders:
Buy 100,000 EUR/USD @ 1.4160 - Active opening
Sell 100,000 EUR/USD @ 1.4190 - Limit pending
Sell 100,000 EUR/USD @ 1.4145 - Stop pending

And you can do the same for down side. So, now you need marker to jump from 1.4140 to 1.4190 or higher - then you make money guaranteed.

Is it clear?
  • #11
  • Sep 23, 2008 8:25am Sep 23, 2008 8:25am
i've traded the news back when i had an account with fxcm. would advise you not to trade the news with them. huge slippage.
anyway, i don't trade the news nowadays
Twitter: @forexpokerpro
  • #12
  • Sep 23, 2008 9:31am Sep 23, 2008 9:31am
Quoting BBPI_fxtrader
i've traded the news back when i had an account with fxcm. would advise you not to trade the news with them. huge slippage.
anyway, i don't trade the news nowadays
I'm talking about fxclub. They have no slippage at all for years.
  • #13
  • Sep 23, 2008 9:37am Sep 23, 2008 9:37am
FXCM somtimes works, but you adont have to use @best
Just market order + 10 pip slippage



Quoting BBPI_fxtrader
i've traded the news back when i had an account with fxcm. would advise you not to trade the news with them. huge slippage.
anyway, i don't trade the news nowadays
Charting Markets into the Future...MǎҖ€¥.
  • #14
  • Sep 23, 2008 12:07pm Sep 23, 2008 12:07pm
Quoting lavatrader
I'm talking about fxclub. They have no slippage at all for years.

you love pitching FXclub... can I open an account through you?
  • #15
  • Sep 23, 2008 12:40pm Sep 23, 2008 12:40pm
Quoting fxtrader42
you love pitching FXclub... can I open an account through you?
Wow! Take it easy man.
I'm not fxclub rep here. I am just like you.
  • #16
  • Sep 23, 2008 12:54pm Sep 23, 2008 12:54pm
Quoting lavatrader
Wow! Take it easy man.
I'm not fxclub rep here. I am just like you.

did i have a hostile tone? simply stating the facts... you love fxclub...why?
  • #17
  • Sep 23, 2008 1:44pm Sep 23, 2008 1:44pm
Quoting fxtrader42
did i have a hostile tone? simply stating the facts... you love fxclub...why?
Cause I like the way they treat me as a customer! Enough?
  • #18
  • Sep 24, 2008 3:29am Sep 24, 2008 3:29am
Quoting lavatrader
That's what I was trying to say. They have fixed spread and price freeze for 4 seconds. But, right after the news, let's say every first friday of the month at 8:30:10 am EST it might be hard to jump in using a simple market order but if you placed opening stop before that time, you'll be filled at exact price in your order! So, you can set a strategy there. For example:
Current market is 1.4140. You placing a set of contingency orders:
Buy 100,000 EUR/USD @ 1.4160 - Active opening
Sell 100,000 EUR/USD @ 1.4190 - Limit pending
Sell 100,000 EUR/USD @ 1.4145 - Stop pending

And you can do the same for down side. So, now you need marker to jump from 1.4140 to 1.4190 or higher - then you make money guaranteed.

Is it clear?
Hi, Lavatrader,

I do not quite understand your strategy over here:
Buy 100,000 EUR/USD @ 1.4160 - Active opening
Sell 100,000 EUR/USD @ 1.4190 - Limit pending
Sell 100,000 EUR/USD @ 1.4145 - Stop pending

If the market hit 1.4190 and continue goes higher, you are lossing money right???
  • #19
  • Sep 24, 2008 8:01am Sep 24, 2008 8:01am
efxco allows news trading!!!
  • #20
  • Sep 24, 2008 8:49am Sep 24, 2008 8:49am
Quoting ustcer2001
Hi, Lavatrader,

I do not quite understand your strategy over here:
Buy 100,000 EUR/USD @ 1.4160 - Active opening
Sell 100,000 EUR/USD @ 1.4190 - Limit pending
Sell 100,000 EUR/USD @ 1.4145 - Stop pending

If the market hit 1.4190 and continue goes higher, you are lossing money right???
Hi ustcer2001,

If market hit 1.4190, my position opened at 1.4160 will be closed with a 30 pip profit. But if the market reach 60 first and then turn-a-round and go below 45, my position will be closed with a 15 pip loss.

Is that clear?
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