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EasyTrader's News Trading

  • #21
  • Aug 11, 2010 9:10pm Aug 11, 2010 9:10pm
Quoting Togu
Good, so ur gap was 10 and it didn't get hit?
No... as soon as the release was out not meeting my triggers... I closed them.

I took a trade after the spike retracement.
  • #22
  • Aug 12, 2010 12:19am Aug 12, 2010 12:19am
I have a question.

When playing the News or EDR's, what exactly is meant by playing the retracement?

Lets say that it spikes up 60 Pips, are we going Short after the spike?

Or are we waiting for after it spikes up 60 Pips, then retraces 40, is it then that after we feel that first initial retracement has taken place that we put in a Long?
  • #23
  • Aug 12, 2010 5:44am Aug 12, 2010 5:44am
Quoting Astroman
I have a question.

When playing the News or EDR's, what exactly is meant by playing the retracement?

Lets say that it spikes up 60 Pips, are we going Short after the spike?

Or are we waiting for after it spikes up 60 Pips, then retraces 40, is it then that after we feel that first initial retracement has taken place that we put in a Long?
TRADE THE RETRACEMENT

We wait for the news release to come out. Based on the release number we will determine “where” to get into the market if our expected deviation is hit.
We will wait for the market to retrace back within 10~15 pips of the pre-release price level. Sometimes when we have a huge deviation, we can enter the market at 20~30 pips from the pre-release level, but it would be based on discretion. Market will usually retrace within the first 5~30 minutes, if a retracement is to take place. A lot of times it is important to take consideration of the context of the news when trading.
A stop/loss will be placed 20~25 pips from the entry price. Therefore, it is very important to wait for the market to come back because if we enter too soon, we might get stopped out.

It is all explained here:

http://www.forexpeacearmy.com/forex-...d-part-ii.html
  • #24
  • Aug 12, 2010 6:05am Aug 12, 2010 6:05am
Do you plan to get in to the Unemployment Claims?
I'm having Server is not responding on OT. Do you get the same?
  • #25
  • Aug 12, 2010 6:33am Aug 12, 2010 6:33am
I'm sorry to inform you guys, but dustin's software is terrible.

It will get you into orders late often enough, resulting in bad trades.

Very bad idea to use this junk. He used to call it RSS back in the past,
  • #26
  • Aug 12, 2010 6:40am Aug 12, 2010 6:40am
Quoting qwertymyfx
I'm sorry to inform you guys, but dustin's software is terrible.

It will get you into orders late often enough, resulting in bad trades.

Very bad idea to use this junk. He used to call it RSS back in the past,
Well we are straddling though, personally I think it's over rated software, perhaps maybe little faster than regularly pushing the refresh button on our internet explorer.
It's almost the same price as bloomberg anywhere. lol
  • #27
  • Aug 12, 2010 6:58am Aug 12, 2010 6:58am
Quoting Togu
perhaps maybe little faster than regularly pushing the refresh button on our internet explorer.
haha, so true!
  • #28
  • Aug 12, 2010 7:00am Aug 12, 2010 7:00am
Quoting Togu
It's almost the same price as bloomberg anywhere. lol
i think bloomberg is quite a bit more expensive.
  • #29
  • Aug 12, 2010 7:05am Aug 12, 2010 7:05am
Quoting qwertymyfx
i think bloomberg is quite a bit more expensive.
Hmm I think if you purchase bloomberg for quaterly usage you get little bit discount if I remember correctly.
  • #30
  • Aug 12, 2010 2:45pm Aug 12, 2010 2:45pm
Quoting qwertymyfx
I'm sorry to inform you guys, but dustin's software is terrible.

It will get you into orders late often enough, resulting in bad trades.

Very bad idea to use this junk. He used to call it RSS back in the past,
I don't agree, the setting is the point.
Dustin's server is located at New York, so Your broker and your computer shouldn't be far of server, and besides that many brokers is not good to trade on the news.

every week I get at least 50 pips. each 3 safe trigger, 1 my order is placed before the price move more than 5 pips, and 2 I have a requote and don't make profit
  • #31
  • Aug 12, 2010 5:22pm Aug 12, 2010 5:22pm
Oracle Trader information:

Retail Sales m/m - 6:45:00 PM EST
Expected: 0.5
Conditions:
Buy NZD/USD if higher than 1.3
Sell NZD/USD if lower than -0.3
  • #32
  • Aug 13, 2010 7:15am Aug 13, 2010 7:15am
Getting ready for this news release in 15 min...

US adjusted retail sales

Deviation should be > 1 for a safe buy or sell

I'm placing a straddle with 10 PIPS gap 10 sec just before the release with a SL of 20 PIPS.
  • #33
  • Edited 1:20pm Aug 13, 2010 7:36am | Edited 1:20pm
Got stop out for - 20 pips.

Ah well, better luck next time..

So far I am: 6 PIPS -20 PIPS = -14 PIPS

My #3 news trade using this straddle method will be:

UK CPI EU Harmonized YoY
Condition: Sell if Lower
Expected:
Release date: 17-Aug-2010 04:30:00 EDT
Pair: Set for GBP/USD


cheers
  • #34
  • Aug 16, 2010 4:30pm Aug 16, 2010 4:30pm
Quoting EasyTrader
Got stop out for - 20 pips.

Ah well, better luck next time..

So far I am: 6 PIPS -20 PIPS = -14 PIPS

My #3 news trade using this straddle method will be:

UK CPI EU Harmonized YoY
Condition: Sell if Lower
Expected:
Release date: 17-Aug-2010 04:30:00 EDT
Pair: Set for GBP/USD


cheers
I will not be trading this news release with the straddle...

REASON:
We will want to be careful on this release as a couple of times recently the initial move has gone against the deviation by about 20 pips before it moved in the correct direction.

STRATEGY:
Wait for the first candle to spike and then retrace. If we have a SAFE SELL, on the Oracle Trader, we will enter on the retrace and hold the position with 1TP 25 PIPS & 2TP 50.

After 1TP is hit, I will move my SL to BE.

If we have a SAFE BUY, I will stay OUT!!!

Good luck
  • #35
  • Aug 16, 2010 6:31pm Aug 16, 2010 6:31pm
Quoting EasyTrader
TRADE THE RETRACEMENT


It is all explained here:

http://www.forexpeacearmy.com/forex-...d-part-ii.html
Thanks for the reply EasyTrader, I appreciate it.

  • #36
  • Aug 17, 2010 3:27am Aug 17, 2010 3:27am
OK! I'm set up for the GBPUSD

I'm only selling if the actual release is < 2.9. Entry will be on the retrace when the original spike retraces back to 20 PIPS from the pre-release price.

Let's hope we have a runner today...

Good luck
  • #37
  • Aug 17, 2010 3:31am Aug 17, 2010 3:31am
Quoting easytrader
ok! I'm set up for the gbpusd

i'm only selling if the actual release is < 2.9. Entry will be on the retrace when the original spike retraces back to 20 pips from the pre-release price.

Let's hope we have a runner today...

Good luck
its a no trade.... Damnnnnnnnn
  • #38
  • Aug 17, 2010 3:37am Aug 17, 2010 3:37am
My next news trade will be:

UK Retail Sales (MoM)

Release date:
19-Aug-2010 04:30:00 EDT

Comments: Set for GBP/USD

I'll be back on Thursday...

PS. You only need two or three good runners in a month to cash in more than 100 PIPS... It is worth waiting.

Cheers
  • #39
  • Aug 19, 2010 3:06am Aug 19, 2010 3:06am
I'm set for the news release..

here is some info... http://www.forexpeacearmy.com/forex-...sales-m-m.html

Good luck
  • #40
  • Aug 19, 2010 3:31am Aug 19, 2010 3:31am
Quoting EasyTrader
I'm set for the news release..

here is some info... http://www.forexpeacearmy.com/forex-...sales-m-m.html

Good luck
Its a SAFE BUY

Buy on dips....
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