If we look at your strategy it is quite structured. I wish you luck. I hope that you turn that 1.2750 stop in an stop and reverse, targetting at least 1.27 if the market goes against you
- #62,406
- Feb 6, 2009 6:56am Feb 6, 2009 6:56am
- Joined Aug 2007 | Status: TARFU... | 7,015 Posts
FUBAR...
he is talking about USD jobs report ( http://www.forexfactory.com ) that will be published in 35 minutes;
so, in this case USD go down
- #62,412
- Feb 6, 2009 7:04am Feb 6, 2009 7:04am
- Joined Jul 2008 | Status: Trader | 1,722 Posts
OK, instead of that, here's a novel idea... why don't you try some research on your own right here on the Forex Factory? Why don't you try that more than 30 minutes ahead of time? This thing has been coming for 4 weeks now, every month, like clockwork, and you want other traders to bring you up to speed in the final half hour? Not.
If one has to ask how to trade a major release, one should not be trading that release. Period.
Up or down, gimme a ticket
thank you. I was just waiting for this answer not a long one telling me what to do
Hey Tangothettt:
Forget about the not so kind answers to your question.
For sure experience is the best teacher, so go through several months and see how the market reacts instead of asking people what to do because quite honestly and frankly, no one ones even if they sound like they are the cats whiskers in forex. They aren't!!!!
The best way to trade if you are new, is not to trade real money.
If you do decide to go ahead anyway, try this.
Wait till the market stops its knee jerk reaction to the data release.
This could take five minutes or ten or fifteen. But watch carefully and you will find that the market finally takes off in the actual direction in which it will travel. Then you make your move. Get in decisively. For sure you will have to suffer a wider spread and some slippage too, because this is a fast moving market. But if you decide to trade the news, (and this is the one news announcement that makes the market swing most) this is part of the game.
Good luck to you and ignore the arrogant answers. Everyone is new and young when they just start out, but that's no sin. Hope you make more money today than everyone else.
- #62,417
- Feb 6, 2009 7:17am Feb 6, 2009 7:17am
- Joined Aug 2007 | Status: TARFU... | 7,015 Posts
he is talking about USD jobs report ( http://www.forexfactory.com ) that will be published in 35 minutes;
thank you. I was just waiting for this answer not a long one telling me what to do
You asked that someone explain it to you, that sounds like you wanted someone to explain it to you.
Sorry if I misundertood that you did not want someone to explain it to you.
BTW, you do understand that in your quote of ppxdf where it says "USD will go down" means that the pair EUR/USD will go UP, right?
And BTW again, the part about USD going down isn't even in his post at all, so... ???
FUBAR...
- #62,419
- Feb 6, 2009 7:19am Feb 6, 2009 7:19am
- | Joined Nov 2007 | Status: Trader | 2,903 Posts
Last night when I closed my Aussie long, I accidentally went short the EURAUD. In a fit of frustration I closed the position immediately booking a 10 pip loss, most due to spread.
I wake up to find out that not even should I have left the AUssie open, but the EURAUD short would ahve netted over 200 pips by now...
Coin Flip Anyone? NFP should provide a nice cion flip opportunity. Maybe a options strangle is in order
I wake up to find out that not even should I have left the AUssie open, but the EURAUD short would ahve netted over 200 pips by now...
Coin Flip Anyone? NFP should provide a nice cion flip opportunity. Maybe a options strangle is in order
- #62,420
- Feb 6, 2009 7:27am Feb 6, 2009 7:27am
- Joined Aug 2007 | Status: TARFU... | 7,015 Posts
FUBAR...