how about news trading, can it work?

Quoting malcolmb14

Disliked

yup those straddle trade are a way to trade news .... never been a fan of them myself , as price can move up 100 pip , catch the long straddle trade then whipsaw back down stop that ine out fill the sell stardlle trade , then whipsaw back up , happened in gj last week ... 3 x 100 pip 5 min candles ... could not get into a trade ... so I just let market settle down and then waited for volume to tell me what was going on and sold her for a 200 pip trade in US session

[color=Blue][b]thats PRECISELY why they WORK --- but only if you obey the correct...

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Quoting malcolmb14

Disliked

yup those straddle trade are a way to trade news .... never been a fan of them myself , as price can move up 100 pip , catch the long straddle trade then whipsaw back down stop that ine out fill the sell stardlle trade , then whipsaw back up , happened in gj last week ... 3 x 100 pip 5 min candles ... could not get into a trade ... so I just let market settle down and then waited for volume to tell me what was going on and sold her for a 200 pip trade in US session

cant comment on that one as it was an "overnite" and i was already long during the action with no straddle -- took out the long and 2 others that were waiting for later, and of course I took the shorts !

thanks for the bollinger bands info , I have used keltner bands before that were ok .... I like volume though ... I use both vsa and volume foorptint in ninja trader. Nothing like it. Often I can get into trades on gj with max 20 pips drawdown for 50 - 100 pips trades. There are many ways to skin a cat

could never get ninja to work with my feeds so dumped it and stuck with quotetracker, but i agree completely --- there are numerous ways to dress your mistress (and vice versa !)

I use the bols ONLY for their support and resistance lines and ignore the rest of the time --- each timeframe i trade has at least 5 areas of significance, and i set trades for each one of the tp points. If Im not being lazy, I'll take the short on the retrace and then average down for the upside continuation --- depends on how i feel that day !

by the way check out EJ daily bollinger bands 2 standard deviations 21 .... good time to sell about now for 500 pip trade .
Not too excited about EJ past 125.34 with the potential to hit 124.88 later in the move -- dont like the remaining strenth of the move that im seeing --- will have to break 128.50 strongly for me to remain through all of next week as i believe we see topside before going way down.

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