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Anyone trading news here?

  • #21
  • Sep 24, 2008 9:22am Sep 24, 2008 9:22am
Quoting lavatrader
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?
wow, very nice tactic!!!

Hmmm, should implement this kind of strategy into my news trading.

Thanks a lot bro!!
  • #22
  • Sep 24, 2008 9:25am Sep 24, 2008 9:25am
Quoting lavatrader
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?
Just one comment, if the market going down from 40, and none of your orders will be triggered...
  • #23
  • Sep 24, 2008 9:56am Sep 24, 2008 9:56am
Quoting ustcer2001
any good broker to recommend??

Just contacted ODL, they have fixed spread, but they do not allow news trader.
News Trade?
Why you want to trade news? That’s too risky.
There are some firms that allow you to do that craziness. For example Tradeview has a gadget which shows you the most important news during the day. I think that is great. But my advice is to stay away from news release.
Life is a party!!! will you seat or will you dance?
  • #24
  • Sep 24, 2008 10:05am Sep 24, 2008 10:05am
I prefer to read the news, fundamentals are .... fundamental... It´s good that the briefing news exists, I´m going to check the tradeviewforwex that you just pointed, by the way what ststem are you using to trade?
  • #25
  • Sep 24, 2008 10:29am Sep 24, 2008 10:29am
Quoting ustcer2001
Just one comment, if the market going down from 40, and none of your orders will be triggered...

I'm not sure lavatrader's strategy has been too well thought out and it's definitely not "you make money guaranteed", lol

lavatrader, price action around something as volatile as NFP could trigger your Buy order 20 pips from market and then your stop 15 pips away......oh, in about 2 seconds flat if not quicker!

And to be honest, any bucketshop who offers guaranteed fills and fixed spreads across data like that is either going to go bust or they're not going to pay out winnings!
  • #26
  • Sep 24, 2008 10:38am Sep 24, 2008 10:38am
Quoting Marcuse
I prefer to read the news, fundamentals are .... fundamental... It´s good that the briefing news exists, I´m going to check the tradeviewforwex that you just pointed, by the way what ststem are you using to trade?
One of my rules is to stay away from news releases but to take advantage of their effect. I don’t predict the effect.
I prefer to ride the wave that news creates. With some indicators and various technical parameters I judge stop/entry points
Life is a party!!! will you seat or will you dance?
  • #27
  • Sep 24, 2008 11:31am Sep 24, 2008 11:31am
Quoting ustcer2001
any good broker to recommend??

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

Maybe you would need this.
It’s a list of the main fundamentals for EUR, USD GBP and JPY.
Hope it help you.
Attached File(s)
File Type: pdf Main Fundamentals.pdf   55 KB | 312 downloads
  • #28
  • Sep 24, 2008 2:09pm Sep 24, 2008 2:09pm
Quoting lostinspace
I'm not sure lavatrader's strategy has been too well thought out and it's definitely not "you make money guaranteed", lol

lavatrader, price action around something as volatile as NFP could trigger your Buy order 20 pips from market and then your stop 15 pips away......oh, in about 2 seconds flat if not quicker!

And to be honest, any bucketshop who offers guaranteed fills and fixed spreads across data like that is either going to go bust or they're not going to pay out winnings!
You absolutely right by saying that market can rip me off just in a second. But that's why I'm using fxclub. They do exact order execution for years, which means you able to control your loses. Believe me, I would never say that if it's not true.
  • #29
  • Sep 24, 2008 2:50pm Sep 24, 2008 2:50pm
Talking about news , do you guys know if is there any fundamental that sustain the dollar going up the rest of the day? Or will the Euro recover at least the pivot point?
  • #30
  • Sep 24, 2008 2:54pm Sep 24, 2008 2:54pm
Quoting lavatrader
You absolutely right by saying that market can rip me off just in a second. But that's why I'm using fxclub. They do exact order execution for years, which means you able to control your loses. Believe me, I would never say that if it's not true.
So I can put in an order of 20M on a news announcement and fxclub will give me the price i click on? How about just 1M? WTF do you mean by exact order execution... ?
  • #31
  • Sep 24, 2008 3:22pm Sep 24, 2008 3:22pm
Any broker that will fill you during news events with no slippage is trouble. Sure you might make some small profits for awhile, but, try to withdrawl any large amounts of profits and you will be in for a shock.

This has all been done before. There were even EAs and automated programs written by people here to do this for you. It all failed because brokers do not like their money being stolen from them.
  • #32
  • Sep 24, 2008 3:28pm Sep 24, 2008 3:28pm
Quoting fxtrader42
So I can put in an order of 20M on a news announcement and fxclub will give me the price i click on? How about just 1M? WTF do you mean by exact order execution... ?

FXClub is the funny one. From their website:

Zero-spreads
No Swaps
No Re-quotes
Pay just $0.6 for every $1,000 traded
Get instant commission refunds on non-profitable trades

I like the "just $600/mio" especially.
  • #33
  • Sep 24, 2008 4:43pm Sep 24, 2008 4:43pm
First off I'm nothing to do with FXClub before anyone accuses me of being a shill

I've just been looking over their website and chatting with one of the reps and it doesn't sound too bad if I've understood what he's said....

They allow you a 4 second window to accept the quote you clicked during which time price is frozen, is that right? That's great for scalpers I imagine unless they freeze price once you're in the trade of course.
They credit your account with $100 when you open an account with =>$100, well that doesn't sound too bad to me either, free money is always good.

They've got an exclusion clause in the T&C's to cover volatile times like NFP "(except for extraordinary market conditions)" so I guess they protect themselves against risk from news traders.

Ok sure, their commission is way out there with the fairies, 6 pips a trade is a bit much but I suppose that can be offset because they refund it on losing trades. 15c per 1k on rollovers is a bit of a rip-off and it doesn't seem like they pay interest on a positive yield trade.

If I've got their NFA ID correct (0358265) then they seem to have a clean sheet. There's a couple of Russian-sounding names among the principals which might be a bit worrying but apart from that everything looks kosher.

I dunno, I must be getting old and past it because this actually doesn't sound like such a bad deal to me....
  • #34
  • Sep 24, 2008 4:55pm Sep 24, 2008 4:55pm
Quoting FrankTheTank
Any broker that will fill you during news events with no slippage is trouble. Sure you might make some small profits for awhile, but, try to withdrawl any large amounts of profits and you will be in for a shock.

This has all been done before. There were even EAs and automated programs written by people here to do this for you. It all failed because brokers do not like their money being stolen from them.
That's what I thought at first but it looks like they protect themselves with an exclusion clause in the Terms and Conditions "except for extraordinary market conditions", which makes sense for any company expecting to stay in business! I guess what they call 'extraordinary' is up to them, extraordinary might be if the trader makes a profit perhaps
  • #35
  • Sep 25, 2008 8:17am Sep 25, 2008 8:17am
Quoting fxtrader42
So I can put in an order of 20M on a news announcement and fxclub will give me the price i click on? How about just 1M? WTF do you mean by exact order execution... ?
The maximum trade size in the platform is 10M, so I can't say anything about 20M. You better ask them. My maximum trade size with them was 7M GBP/JPY. All orders were executed at exact prices (no slippage).
  • #36
  • Sep 25, 2008 8:20am Sep 25, 2008 8:20am
Quoting FrankTheTank
Any broker that will fill you during news events with no slippage is trouble. Sure you might make some small profits for awhile, but, try to withdrawl any large amounts of profits and you will be in for a shock.

This has all been done before. There were even EAs and automated programs written by people here to do this for you. It all failed because brokers do not like their money being stolen from them.
They are NFA regulated. They can't offer anything to public if they can not prove it. Just as a tip to you!
  • #37
  • Sep 25, 2008 1:07pm Sep 25, 2008 1:07pm
And here's a tip to you, the NFA has zero enforcement powers. An NFA regulated broker can close up today and use my funds to pay off their friends, family members, and anyone else who invested in their business.

Why would a broker let people trade the news and take money from their pockets day after day?[/quote]


Here are some reviews on forexclub
http://www.forexpeacearmy.com/public...www.fxclub.com

Why anyone on here would promote this broker blows my mind.
  • #38
  • Sep 25, 2008 1:15pm Sep 25, 2008 1:15pm
Quoting FrankTheTank
And here's a tip to you, the NFA has zero enforcement powers. An NFA regulated broker can close up today and use my funds to pay off their friends, family members, and anyone else who invested in their business.

Please everyone. Ask yourself this. How and why would a broker offer zero slippage when that is impossible on any market, expecially in forex? The truth is that they can't unless they are creating their own "fake" markets and running a dealing desk. If thats the case, why would they let people trade the news and take money from their pockets day after day?
Oh Come on! You sounds like a broker here!! Should customer care how regulated broker will executed his orders and where broker will get money to pay him?? Is that a customer's business?
Please, read carefully the NFA updates on Trading Platforms. You'll find a many interesting things on it. Broker can not state no slippage (and all other sort of things) if this can not be proven. As far as I understand , if NFA will find any orders executed with a slippage a broker get a kick.
And if you will look closer to the NFA regilations you'll find a HUGE difference between regulataed and unregulated brokers.

Cheers
  • #39
  • Edited 8:30pm Sep 25, 2008 1:17pm | Edited 8:30pm
Quoting FrankTheTank
And here's a tip to you, the NFA has zero enforcement powers. An NFA regulated broker can close up today and use my funds to pay off their friends, family members, and anyone else who invested in their business.

Why would a broker let people trade the news and take money from their pockets day after day?

Quote
Here are some reviews on forexclub
http://www.forexpeacearmy.com/public...www.fxclub.com

Why anyone on here would promote this broker blows my mind.

Damn man!:-) You looks funny to me. FF is not a place where you can refer to Felix. lol
  • #40
  • Sep 26, 2008 12:37am Sep 26, 2008 12:37am
Quoting FrankTheTank

Why would a broker let people trade the news and take money from their pockets day after day?

Here are some reviews on forexclub
http://www.forexpeacearmy.com/public...www.fxclub.com

Why anyone on here would promote this broker blows my mind.

They don't "let people trade the news and take money from their pockets day after day", lavatrader gives that impression but he's wrong.

I think both you guys need to read their Terms and Conditions instead of arguing a point which doesn't exist.

As for forexpeacearmy, lol, are you kidding me! Don't tell me you take anything on that site seriously!
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