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Central Banks & Big Players

  • #1,641
  • Mar 17, 2010 4:40am Mar 17, 2010 4:40am
Quoting Tony112
never trade the initial major news candle: spread, whipsaws, pullback, slippage are your worst enemies... can't put a 3 pip SL on that kind of news
Lesson learned indeed. nice entry tony.
  • #1,642
  • Mar 17, 2010 4:43am Mar 17, 2010 4:43am
Quoting Tony112
my entry , 0 SL nothing to lose


floating at 30
Nice entry.
  • #1,643
  • Mar 17, 2010 4:43am Mar 17, 2010 4:43am
1.5315 offers resistance, above that is an entry level;l
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  • #1,644
  • Mar 17, 2010 4:44am Mar 17, 2010 4:44am
floating at 52
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  • #1,645
  • Mar 17, 2010 4:46am Mar 17, 2010 4:46am
withdrew $ - all this with a minimal exposure
Attached Image (click to enlarge)
Click to Enlarge Name: 8.JPG Size: 117 KB
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  • #1,646
  • Mar 17, 2010 4:50am Mar 17, 2010 4:50am
Quoting Tony112
withdrew $ - all this with a minimal exposure
Good trade, cheers.
Time to go to sleep for me
  • #1,647
  • Mar 17, 2010 4:52am Mar 17, 2010 4:52am
Nice entry Tony, but SL couldn't have been 3? spread was still around 8 at that time?
  • #1,648
  • Mar 17, 2010 4:54am Mar 17, 2010 4:54am
Quoting Jostein
Nice entry Tony, but SL couldn't have been 3? spread was still around 8 at that time?

it's true, the spread was 7.5, but not 20.... it's a risk I took, but as soon as I was in profit (4-5 pips)... I set my SL at 0
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  • #1,649
  • Mar 17, 2010 5:03am Mar 17, 2010 5:03am
An old news chart, reminding you of the dangers of trading the news on the first initial spike.... we all wished all news looked like the one we saw today, but we don't live in that kind of world, unfortunately
Attached Image
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  • #1,650
  • Mar 17, 2010 5:04am Mar 17, 2010 5:04am
Quoting Jostein
Nice entry Tony, but SL couldn't have been 3? spread was still around 8 at that time?
Might want to consider getting another broker. 8 pip spread is ridiculous. I had 1-2 pip spread at that time of trade.
  • #1,651
  • Mar 17, 2010 5:08am Mar 17, 2010 5:08am
Quoting stinger88
Might want to consider getting another broker. 8 pip spread is ridiculous. I had 1-2 pip spread at that time of trade.

i agree
a few questions: who's you're broker? what about execution and re-quotes, slippage after news? all things to consider to avoid a mirage
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  • #1,652
  • Mar 17, 2010 5:17am Mar 17, 2010 5:17am
after news, mini resistance entry, 0SL
NADA to lose - 0, stopped out at -1cent
Attached Image (click to enlarge)
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  • #1,653
  • Mar 17, 2010 5:19am Mar 17, 2010 5:19am
possible earlier mini resistance entry level, for the ones that didn't enter in the beginning

Look at the blue line
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  • #1,654
  • Mar 17, 2010 5:21am Mar 17, 2010 5:21am
im out
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  • #1,655
  • Mar 17, 2010 5:26am Mar 17, 2010 5:26am
Quoting Tony112
i agree
a few questions: who's you're broker? what about execution and re-quotes, slippage after news? all things to consider to avoid a mirage
I use Interactive Brokers. They charge commission per trade...works out to about $6 for trading 1 full contract, so you get the lowest spreads. Biggest brokerage in the world. I've used them for trading stocks and forex for many years now. Execution has always been excellent.

As for re-quotes, I've never had that problem. I hit either the bid or offers with two key strokes, so as long as Im fast enough, I get filled.

During big news annoucements, the spreads can get huge, like 10-20 pips, but they quickly return to roughly 1-2 pips once things settle down.

8 pip spread is just way too much, especially when the news has been out for over a minute.
  • #1,656
  • Mar 17, 2010 6:38am Mar 17, 2010 6:38am
Quoting stinger88
I use Interactive Brokers....

looks interesting... I'll try them out...
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  • #1,657
  • Mar 17, 2010 6:41am Mar 17, 2010 6:41am
guys I'll be adding a new entry rule for the 10 pip candles ''in normal times"

there would have to be NO RECENT PRICE BELOW / ABOVE the candle... in that way we'll eliminate a lot of false signals and also hit on the supports and resistances what do you think?????
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  • #1,658
  • Mar 17, 2010 7:02am Mar 17, 2010 7:02am
I think Tony, more new stuff - better
  • #1,659
  • Mar 17, 2010 7:07am Mar 17, 2010 7:07am
Quoting alfred
I think Tony, more new stuff - better

true, optimization
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  • #1,660
  • Mar 17, 2010 7:10am Mar 17, 2010 7:10am
Producer Price Index News Release text coming at 8:30 guys

We're looking for an entry similar as the one for the Claimant count this morning...... afternews entry of course
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